GYUMRI. – In the past three years, the apartment prices reduced by around 40 percent in Armenia’s Gyumri city, Gasma Invest real estate agency’s director Arsen Nurijanyan told Armenian News-NEWS.am, adding that the reason is the current instability in this domain and the economic crisis. 

“In line with the Agency’s studies, the apartments are more affordable in Gyumri, in comparison with the country’s different settlements, specifically with the capital [Yerevan]. And there are no preconditions to expect stability in the coming months,” Nurijanyan noted. “The citizen cannot afford. In addition, the renting terms are not suitable either.”