REAL ESTATE MARKET OF REPUBLIC OF ARMENIA IN 2007 - Annual analysis

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In all the cities of Republic, excluding Yerevan, average market price of 1 square meter of private housing buildings (including the unit price of homestead land) annually increased for 47.3%.
Quantitative changes of state registration rights coming from amortization and purchase-sale deals of private houses implemented in marzes show tendency to grow.
In general, 24658 unit of land/17936.95 hectare/ was amortized in Republic during the year of 2007, out of which 1897 units /252.37 hectare/ in Yerevan.  This number includes land that was amortized according to the 23rd article of RA land legislation amendment. According to this amendment 1160 unit /206.88 hectare/ land was amortized 552 unit /55.33 hectare/ of which in Yerevan. The amortized land was distributed the following way according to their on purpose use:

• Agricultural lands- 10581 units /16080.52 hectare/, out of which 72 units /15.94 hectare/ in Yerevan

• Residential encumber lands - 9025 units /893.13 hectare/,out of which 1248 units  /135.84 hectare/ in Yerevan

• Public encumber lands -4534 units /525.97 hectare/, out of which 536 units  /88.75/ in Yerevan

• Industrial establishment lands- 284 unit /297.03 hectare/, out of which 39 units /11.84 hectare/ in Yerevan

• Public health and  lands for rest under special protection-209 units /190.13 hectare/

• Lands of energy establishments designed for water power plants- 24 units  /3.16 hectare/

• Forestlands – 1 unit  sale of rental right /1.00 hectare/

In 2007 purchase-sale deals for 23215 units /17316.87 hectare/ of amortized land was carried out in Republic, out of which 1772 unit /238.60 hectare/ in Yerevan; donation deals – 1305 units /592.42 hectare/, out of which 81 units /9368 hectare/ in Yerevan; and exchange deals - 138 units /27.65 hectare/, out of which 44 units /4.10 hectare/ in Yerevan.
In 2007, as compared to 2006 the quantitative change of land purchase-sale deals made 26.3%. Quantitative deals of agricultural land purchase-sale increased for 18.8%, for residential lands 34.6%, for industrial lands it decreased by 24.1%. A great number of land purchase-sale deals were registered in Armavir marz: 6194.23 hectare, 6075.34 of which were agricultural lands.
39.8% or 9237 deals /9004.81 hectare/ of sold lands were property of state or community, 600 units /85.02 hectare/ of which in Yerevan, and 59.8% or 13892 units /8249.03 hectare/ were private property lands-1138 units /152.37 hectare/ of which in Yerevan. In 2007, 86 deals of rental right sale /63.04 hectare/ were registered in the Republic, including the deals of encumber rights sale.
Below the distribution of areas and number of purchase-sale deals of state or community, as well as private property lands is presented by marzes for the year of 2007. The sale of public health lands and lands designed for rest under special protection, energy settlements designed for water power plant  lands and rental right are not included.

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