90% of the houses for rent are empty - Director of agency

The coronavirus has had a negative impact on the different domains of the economy.

Vahe Danielyan, director of the Kentron Real Estate Agency, says that real estate agencies can be called "frozen." Although the government has developed support programs based on the situation, real estate is not included in those plans.

 "Our sector is not mentioned in those programs, although we have paid enough taxes and we want to be noticed. The tourism sector, beauty salons and hotels are the ones that were primarily mentioned. There is support for the beauty industry, but we have suffered more than beauty salons, since when the quarantine is over, the beauty salons will continue its their regular work, but it will take time for us to get back to our regular work."

Vahe Danielyan says that now the square meter of a house in the center costs between $ 1,000 and $ 3,000, and it is $ 800 in the suburbs

"Due to the income tax return law, there was a great demand for apartments and we made quite big deals. However, due to the virus epidemic, real estate prices may fall, if the situation continues, many buildings under construction will be left unfinished, as many people do not work. And if the income tax law is suspended, it will lead to a fall in prices in the real estate market."

According to Vahe Danielyan, the current situation has also affected on the prices of the houses for rent.

"The prices of 60-70% of the rented houses have fallen because all the houses are empty, the borders are closed, there are no tourists. Today, 90% of rented houses are empty, and many are willing to rent a 600,000-square-foot home for 200-300 thousand drams."

At the same time, Vahe Danielyan thinks that the rise of the dollar may have a negative impact on the real estate market, as most construction materials are imported from abroad.

He also mentions that he has tax obligations, which he has not paid yet, he has decided to pay the salaries of the employees first.