Today it is impossible to sell any estate in Armenia: Bagrat Asatryan (video)
The number of deals carried out in the real estate market on July in Armenia has decreased by 13.6 percent compared to last year. It is the data provided by State Committee of the Real Estate Cadastre. Real estate market is an indicator of economic, political situation in the country. If the situation gets worse, the market reacts in an appropriate way. The prices presented by the Cadastre surprised economist Bagrat Asatryan, “I simply tried, put the calculator and did calculations, and I understood one thing that somebody had given an order to falsify those numbers.” The highest prices are in Kentron of Yerevan. The price of one square meter is AMD 428 250, compared with last year’s 428 000. The number of deals is the highest. But, according to the economist, the real estate investments in this part of the city have no economic function. Here mainly our compatriots from Iran, Lebanon, Syria and Russia obtain flats. “I don’t want to say dirty money, but making investments in Armenia was a method of avoiding taxes. It means that its economic essence was little here. Let’s be honest, everybody knows that; most of the construction in Kentron, the North Avenue, about 20 percent is the estate got from our officials’ bribe, which also doesn’t have economic function.” According to the statistics, in July in all the regions of Armenia 299 flats were sold. It is lower from the indicator of June by 3.9 percent and by 14.8 percent compared to July of 2015. Bagrat Asatryan highlights that in the regions, especially in the villages, the property, in general, has no value. The economist himself faced the problem, and his personal contacts let him say that today it is very hard, not to say impossible, to sell any estate. There is no demand.
