Real Estate Market in Armenia 1998-2007

REAL ESTATE MARKET IN ARMENIA 1998-2007

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Dynamics of real property pledge transactions in the Republic and in Yerevan in the yearly comparison of the period 1998-2007

Distribution of pledge transactions according to marzes in the Republic in 2007

Dynamics of real property pledge transactions in the Republic in the monthly comparison of the period 1998-2007

Dynamics of pledge transactions of apartments and dwelling houses in the annual comparison of the period 1998-2007

Dynamics of pledge transactions of public and industrial buildings in the annual comparison of the period 1998-2007

Dynamics of land, including agricultural land, pledge transactions in the Republic in the annual comparison of the period 1999-2007

In the annual comparison of the period 1998-2007 dynamics of agricultural land pledge transactions in marzes of the Republic of Armenia

Factors

The observations of the real property market show that since 2001 the essential factors that have an influence on the real property market development and on the activation of real property civil circulation are:

• Stability of political situation,
• Sustainable development of socio-economic, macroeconomic indicators,
• Intentions of financial market stabilization,
• Existence of urban development programs,
• Definition of state duties paid for state registration and reduction of fees of cadastral services ,
• Essential regulation of the legislative field, particularly adoption of new Land Code and normative acts related to it,
• Issuance ownership certificates free of charge in the framework of the systematic registration activities,
• Licensing of the real property market participants, in particular valuators, realtors and implementers of cadastral mapping,
• Increasing the public awareness for the real property participants.

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