A price rise was registered in Armenia’s real estate market this January-March as compared with Q4 2009. Specifically, apartment prices raised by 2.8% in Yerevan and 1.5% — in the regions. The rates for houses increased by 2.9% in Yerevan and regions of Armenia, Head of Property Valuation Department at the RA Real Estate Cadastre Arman Petrosyan told reporters. He pointed out a lower number of rental businesses unlike disposal deals.

Petrosyan informed that the higher number of deals and price rise in real estate market started last September. The number of deals in Q1 2010 increased by 27.9% compared with same period last year, with 32.2% of total businesses in Yerevan. The highest number of real estate deals was registered in Kotayk and Ararat regions.

The devaluation of Armenian dram did not affect significantly the real estate market.