YEREVAN. – The real estate market transactions have drastically reduced in November and December, Armenia’s Viva Realty real estate agency director Edvard Harutyunyan told Zhamanak daily, the latter reported.

“He noted that the [home] buyers are passive, and the banks [in Armenia] are not providing loans for this purpose.

“[Harutyunyan said(inlove) ‘Everyone is waiting to proceed with their dealings after the [the New Year and Armenian Christmas] holidays. The situation is truly frozen at this time,’” Zhamanak wrote.