YEREVAN. – The average market value for one square meter of multi-residential building apartments in Armenia’s capital Yerevan has dropped by 0.5 percent in February 2012, as compared with the previous month, and comprised AMD 250,100 (approx. US$ 635). And as compared with January 2011, the apartment prices reduced by 3.8 percent, Zhoghovurd daily writes.    

“[But] The capital’s most expensive apartments are still in the Central Administrative Region (AMD 400,000 [approx. $1,015]/1m2), whereas the least expensive [are] in Nubarashen (AMD 140,100 [approx. $355]/1m2).

As compared with February of last year, the apartments [prices] dropped the most at the Central [downtown area], with 9.7 percent, and reduced the least in Ajapnyak and Malatia-Sebastia [administrative regions],” Zhoghovurd writes.