Yerevan apartments have become considerably cheaper in USD

By Smbat Grigoryan

YEREVAN. – According to official data, sales and purchases of apartments in Armenia’s capital city of Yerevan have increased by 11 percent in August, on an annual basis. That is to say, consumer demand has become more active.

But, at the same time, many maintain the opposite. As per a Yerevan realtor, the number of apartment buyers is less than last year.

According to the same official data, the market value for one square meter of the apartments in Yerevan has increased somewhat in one year.

As per the aforementioned realtor, however, there is a major decline in prices, in terms of the US dollar (USD). During this period, the USD consolidated its position 1.3 times in Armenia. For that reason, despite some rise in official prices in terms of the Armenian national currency—the dram, apartments in Yerevan have become considerably cheaper in USD.