Real estate prices fall in Yerevan

The statistics of the State Committee for Real Estate of Armenia in the first quarter of 2020 showed that the prices of real estate, including apartments in the Armenian capital Yerevan, are declining, Report mentions, referring to Sputnik Armenia.

Experts said that the number of sellers was high, and the number of buyers was small in 2020. During and after the 44-day fighting, prices began to fall. In the first quarter of 2020 in Yerevan, the price was $ 1,280 per square meter, in the fourth quarter $ 1,180, and in the first quarter of 2021 $ 1,170.

Specialists have linked the drop in the real estate market in Yerevan to migration. Those who want to leave the country intend to sell their apartments. Due to their large number, real estate prices are decreasing.