YEREVAN. – According to Akcern Real Estate Company President Hakob Baghdasaryan, the stable but critical condition continues in Armenia’s real estate market, Hayatsk daily writes.
“According to him, ‘we have a decline in demand in the real estate market, but this has not caused a reduction in the prices. This is conditioned [on the fact] that the volume of construction has not increased, the construction material costs have not reduced—on the contrary, there is a certain increase—, and we do not have a reduction in the other domains, too.’
Commenting on the state of affairs in the region, Baghdasaryan notes that there still is not such influx of people either from Iran, or Syria, which will impact the demand for real estate [in Armenia],” Hayatsk writes.