YEREVAN. – In 2013, the real estate prices in Armenia have dropped by 4 percent.

Hrachya Hakobyan, a shareholder in Oliver Group real estate appraisal company, told the aforesaid to reporters on Thursday.

And to the query on the inconsistencies with the statistical data, Hakobyan responded that the National Statistical Service data are based on the registered real estate transactions, and not on the offered price.

“Higher or lower numbers can be put on paper. We, on the other hand, register the offers, moreover, including the shifts. 

“We sell apartments, see that no one buys, [and therefore] we reduce the [offered] price half a year later,” Hakobyan noted.

The said company’s analysis includes 22,331 apartments in capital city Yerevan, and all in the secondary market. 

In addition, the company’s appraisal of the value of a real estate is higher than the National Statistical Service data.