Armenian prime minister comments on latest real estate deals
In a Facebook post today Armenian Prime Minister Nikol Pashinyan spoke about the latest data on real estate deals, saying that when compared with July 2018, the number of real estate transactions in 2019 July increased by 17.1%, and when compared with June 2019- by 10.3%.
He said he was most pleased with the fact that in July 2019 the number of transactions with industrial property increased by 11.7%, when compared with July 2018, and by 3.1% when compared with June 2019.
"It is even more pleasing that the increase in the number of transactions is being observed beyond the capital Yerevan," Pashinyan said. He declined allegations that the number of real estate transactions is rising because people are selling their homes and leaving the country.
He said when people leave the country, prices and the number of real estate transactions do not increase, but decrease, because there are more people who want to sell their homes than people who want to buy a house, and many people can’t sell their houses for years.
'This was approximately the situation before the 2018 revolution. Now the opposite process is observed - there are more buyers, fewer sellers," Pashinyan said.
He said the most striking evidence that more homes are being sold and bought is the unprecedented increase in the number of mortgage loans.
"In June 2019, compared to June 2018, the amount of mortgage loans increased by 174%. Their volume in the first half of the year compared to the same period in 2018 grew by 120%. This is a record figure for at least the last decade.' said Pashinyan. -0-