real_estate

Armenian Economic Association



Real property sales/transfers

January February Macrh April May June July August

1998 1146 1212 1176 1501 1390 1597 1374 1782

1999 1070 1304 1603 1418 1287 1438 1567 1354

2000 1054 1044 1295 1278 1350 1255 1266 1378

2001 1170 1240 1369 1543 1499 1390 1614 1718

2002 1519 1479 1832 2186 2279 2096 2263 2492

2003 1714 2134 2395 2491 2385 2497 2934 2799

2004 2588 3082 3494 3479 3052 3366 3535 3416

2005 2496 2858 3810 3809 3523 3557 3442 3490

2006 2848 3173 4401 4021 4588 4546 3997 4740

2007 3870 4125 4933 4482 4479 4920 5167 5675

2008 3816 4506 4173 4841 4765 4906 5211 4431

2009





Land sales/transfers 1998 1999 2000 2001 2002 2003 2004 2005

Total 1109 1155 1424 2195 4424 6799 11860 13959

Yerevan 13 24 6 88 601 1309 1807 1487





Agricultural land sales/transfers

Yerevan Aragatsotn Ararat Armavir Lori

Gegharkunik Kotayk Shirak

1998 0 29 132 42 37 3 10 10

1999 0 51 272 141 12 29 121 32

2000 0 80 364 318 8 23 118 47

2001 0 78 618 270 17 45 131 69

2002 0 250 675 341 63 73 327 171

2003 0 379 950 588 216 181 559 282

2004 0 521 1619 1553 87 182 1477 231

2005 0 727 1754 2199 177 303 1271 466

2006 14 1125 1660 2091 202 545 2082 321

2007 74 1506 1682 2108 434 666 2821 289

2008 53 1475 1466 1595 500 620 2464 275

2009 36





Source: Cadastre Committee

September October November December Total

1576 1775 1538 1687 17754

1570 1384 1411 1381 16787

1332 1549 1438 1523 15762

1561 1761 1760 1854 18479

2438 3304 2723 2515 27126

2925 3293 3137 3377 32081

3257 3627 3729 4168 40793

3827 3996 4056 3807 42671

4076 4732 4573 5589 51284

5147 6043 5810 5957 60608

4739 5035 3729 4463 54615

41766





2006 2007 2008 2009

19460 24658 22339 15080

1987 1897 1334 886







Syunik Vajots DzorTavush Total

2 1 2 268

0 11 7 676

2 48 15 1023

14 16 29 1287

15 12 6 1933

66 64 27 3312

161 77 76 5984

262 196 193 7548

227 216 406 8889

259 279 463 10581

243 234 368 9293

7255

Armenian Economic Association

Average price per sq. meter

´³½Ù³µÝ³Ï³ñ³Ý µÝ³Ï»ÉÇ ß»Ýù»ñÇ µÝ³Ï³ñ³ÝÝ»ñÇ 1ù٠ٳϻñ»ëÇ Ñ³ßí³ñÏáí, ßáõÏ³Û³Ï³Ý ÙÇçÇÝ ·Ý»ñÁ



¹ñ³Ù/ Dram /²ØÜ ¹áɳñ/ USD

Yerevan Districts гٳÛùÝ»ñ 2002 2003 2004 2005 2006 2007 2008 2009 2010Q1 2002* 2003 2004 2005 2006 2007 2008 2009 2010Q1

Kentron λÝïñáÝ 187772 222765 246500 288900 377600 448300 483300 471600 470600 327.5 384.9 461.9 631.2 907.6 1310.4 1579.4 1298.1 1225.3

Arabkir ²ñ³µÏÇñ 114670 161300 193900 235300 298200 360300 403400 358600 373900 200.0 278.7 363.4 514.1 716.7 1053.2 1318.3 987.1 973.5

Kanaker-Zeitoun ø³Ý³ù»é-¼»ÛÃáõÝ 68802 98158 119200 143700 186100 266600 305700 276300 283500 120.0 169.6 223.3 314.0 447.3 779.3 999.0 760.5 738.2

Nor - Nork Üáñ-Üáñù 57335 78538 101700 135100 171100 229300 270700 230800 234800 100.0 135.7 190.5 295.2 411.2 670.3 884.6 635.3 611.4

Avan ²í³Ý 61635 76396 97000 122800 156200 220500 268900 232800 235900 107.5 132.0 181.7 268.3 375.4 644.5 878.8 640.8 614.2

Erebouni ¾ñ»µáõÝÇ 55902 83920 96500 118800 155800 227300 269800 247100 248000 97.5 145.0 180.9 259.6 374.5 664.4 881.7 680.2 645.7

Shengavit ޻ݷ³íÇà 61635 83052 110600 143900 182700 241700 277900 241900 249100 107.5 143.5 207.3 314.4 439.1 706.5 908.2 665.8 648.6

Davidashen ¸³íÃ³ß»Ý 63069 97116 120900 147100 189400 250100 292200 261100 270300 110.0 167.8 226.6 321.4 455.2 731.1 954.9 718.7 703.8

Ajapniak ²ç³÷ÝÛ³Ï 57335 84557 109500 138400 171800 234600 271800 235900 239300 100.0 146.1 205.2 302.4 412.9 685.8 888.2 649.3 623.1

Malatia-Sebastia سɳÃdz-껵³ëïdz 55902 81779 108600 134500 166800 223400 260500 226400 236700 97.5 141.3 203.6 293.9 400.9 653.0 851.3 623.2 616.3

Nubarashen Üáõµ³ñ³ß»Ý 28668 36693 43000 69600 108000 125900 154500 141800 143300 50.0 63.4 80.6 152.1 259.6 368.0 504.9 390.3 373.1

Yerevan, without ØÇçÇÝÁ ºñ¨³ÝáõÙ

Nork Marash /µ³óÇ Üáñù-سñ³ßÇó/ 100415 122500 152500 196700 257100 296300 265800 271400 173.5 229.5 333.2 472.8 751.5 968.3 731.6 706.7



Source: Data from the Cadaster Committee -- cadastre.am with some adjustments by AEA.





Exchange Rate -- ave. Drams per USD 573.35 578.76 533.45 457.7 416.05 342.1 306 363.3 384.06

* Average of weighted low and high calculated by AEA

Armenian Economic Association

Average price per sq. meter

´³½Ù³µÝ³Ï³ñ³Ý µÝ³Ï»ÉÇ ß»Ýù»ñÇ µÝ³Ï³ñ³ÝÝ»ñÇ 1ù٠ٳϻñ»ëÇ Ñ³ßí³ñÏáí, ßáõÏ³Û³Ï³Ý ÙÇçÇÝ ·Ý»ñÁ



سñ½»ñ ø³Õ³ùÝ»ñ ¹ñ³Ù/Dram /²ØÜ ¹áɳñ/USD

Regions Cities 2002 2003 2004 2005 2006 2007Q3 2002* 2003 2004 2005 2006 2007Q3

²ßï³ñ³Ï 27807 35941 35300 44800 65500 101000 48.5 62.1 66.1 97.9 157.4 285.4 2si3n3I 60700

²ñ³·³ÍáïÝ ²å³ñ³Ý 16426 15684 18000 20900 25800 28500 28.7 27.1 33.7 45.7 62.0 80.5 2n3•3IaiY

E 25300

Aragatsotn ³ÉÇÝ 13674 14295 16000 19500 25200 35500 23.9 24.7 30.0 42.6 60.6 100.3 A3ECY 24000

²ñï³ß³ï 24367 31253 30300 35400 51100 80400 42.5 54.0 56.8 77.3 122.8 227.2 2ni3s3i 47100

²ñ³ñ³ï سëÇë 22934 31311 31900 42800 60500 89900 40.0 54.1 59.8 93.5 145.4 254.0 O3eCe 56100

Ararat ì»¹Ç 18118 18057 20900 26400 41500 58000 31.6 31.2 39.1 57.7 99.7 163.9 i•1C

â 38700

²ñ³ñ³ï 16340 18115 20200 29500 42500 55200 28.5 31.3 37.9 64.5 102.2 156.0 2n3n3i 40100

ì³Õ³ñß³å³ï 31190 47632 50600 67700 86600 122200 54.4 82.3 94.9 147.9 208.1 345.3 i3O3ns3a3i 81400

²ñÙ³íÇñ ²ñÙ³íÇñ 20297 25928 30100 40500 57500 87800 35.4 44.8 56.5 88.5 138.2 248.1 2nU3iCn 53200

Armavir ػͳÙáñ 15767 17710 17100 21500 37300 56700 27.5 30.6 32.1 47.0 89.7 160.2 O•I3Uan

â 34300

ê¨³Ý 13617 17652 17900 24800 37700 58900 23.8 30.5 33.6 54.2 90.6 166.4 e•3Y

N 34600

¶³í³é 12327 17421 17500 19300 26200 34000 21.5 30.1 32.8 42.2 63.0 96.1 ÷3i3e

• 24900

¶»Õ³ñùáõÝÇù سñïáõÝÇ 15767 16900 18000 27400 39200 49800 27.5 29.2 33.7 59.9 94.2 140.7 O3niaoYC 38100

Gegharkunik ì³ñ¹»ÝÇë 10750 9839 9300 14200 21000 25900 18.8 17.0 17.5 31.0 50.5 73.2 i3n1•YCe

â 20200

Ö³Ùµ³ñ³Ï 9376 9600 9600 13000 14600 16.2 17.9 21.0 31.2 41.3 O3UƒÊ3n3I 12700

ì³Ý³Óáñ 35073 33700 36900 50700 69500 60.6 63.1 80.6 121.9 196.4 i3Y3Oan 48000

êï»÷³Ý³í³Ý 18868 18800 20700 25300 34900 32.6 35.3 45.2 60.8 98.6 ei €3Y3i3Y

⁠24100

ÈáéÇ êåÇï³Ï 13601 19000 24200 34800 44500 23.5 35.6 52.9 83.6 125.7 eaCi3I 32900

Lori ²É³í»ñ¹Ç 14643 13900 15800 20800 24800 25.3 26.1 34.5 50.0 70.1 2E3i•n1C

â 20100

î³ßÇñ 11054 12500 17500 20300 24200 19.1 23.4 38.2 48.8 68.4 i3sCn 19800

ÂáõÙ³ÝÛ³Ý 5000 5200 5300 5400 11.4 12.7 15.3 AaoU3YU3Y 5200

Þ³ÙÉáõÕ 2800 2800 2800 3000 6.1 6.7 8.5 T3UEaoO 2800

²Ëóɳ 10400 10400 10500 11500 22.7 25.2 32.5 2EA3E3 10400

²µáíÛ³Ý 34831 47458 50700 68600 98100 139600 60.8 82.0 95.1 149.9 235.8 394.5 2ƒÊaiU3Y 91400

Üáñ г×Ý 17688 29806 34400 48600 66800 97100 30.9 51.5 64.4 106.2 160.6 274.4 Uan 62300

Îáï³Ûù ´Ûáõñ»Õ³í³Ý 14248 20257 22500 31700 47000 69600 24.9 35.0 42.1 69.3 113.0 196.7 •Uaon•O3i3Y

L â 43400

Kotayk ºÕí³ñ¹ 16856 23266 25400 40200 61300 86900 29.4 40.2 47.6 87.8 147.3 245.5 oOi3n1 57400

Ðñ³½¹³Ý 18347 17594 20800 26900 37600 49000 32.0 30.4 39.0 58.8 90.4 138.5 Dn3.13Y 35900

̳ÕϳÓáñ 27664 43465 44100 51700 72700 91000 48.3 75.1 82.7 113.0 174.7 257.1 I3OI3Oan 70000

â³ñ»Ýó³í³Ý 15194 17768 20300 30000 42800 58800 26.5 30.7 38.0 65.5 102.9 166.1 a3n•Yo3i3Y

â 40100

ÞÇñ³Ï ¶ÛáõÙñÇ 31248 40050 39600 39700 50200 67100 54.5 69.2 74.2 86.7 120.7 189.6 ÷UaoUnC

• 47800

Shirak ²ñÃÇÏ 15480 14527 15600 21300 31600 43600 27.0 25.1 29.3 46.5 76.0 123.2 TCn3I 29700

سñ³ÉÇÏ 16627 13485 14300 18100 21900 24900 29.0 23.3 26.8 39.5 52.6 70.4 O3n3ECI 21400

¶áñÇë 15050 16958 18800 35400 52000 69300 26.3 29.3 35.2 77.3 125.0 195.8 ÷anCe

• 50500

γå³Ý 13932 16610 17500 26400 44300 63500 24.3 28.7 32.8 57.7 106.5 179.4 I3a3Y 40800

êÇëÇ³Ý 13617 15800 17700 24000 37000 51200 23.8 27.3 33.2 52.4 88.9 144.7 eCeC3Y 33600

êÛáõÝÇù Ø»ÕñÇ 14527 13600 18900 29000 37200 25.1 25.5 41.3 69.7 105.1 O•OnC

â 27000

Siunik ²·³ñ³Ï 12559 13400 15700 20000 24000 21.7 25.2 34.3 48.1 67.8 2•3n3I

E 19300

ø³ç³ñ³Ý 9747 10533 10300 13900 25600 31700 17.0 18.2 19.3 30.4 61.5 89.6 o3c3n3Y 24400

¸³ëï³Ï»ñï 6700 6400 6500 6800 14.0 15.6 19.2 •3ei3I•ni

C â 6400

ì³Ûù 13703 20199 20200 25200 38700 57700 23.9 34.9 37.9 55.1 93.0 163.0 i3Uu 34600

ì³Ûáó Òáñ ºÕ»·Ý³Óáñ 20641 26912 26600 36400 55600 71000 36.0 46.5 49.8 79.5 133.6 200.6 i3Uao 53100

Vayots Dzor æ»ñÙáõÏ 16054 23498 25900 39700 65900 103000 28.0 40.6 48.5 86.7 158.4 291.0 a•nUaoI

â 60500

¸ÇÉÇç³Ý 14764 20777 21600 29200 45600 64700 25.8 35.9 40.4 63.8 109.6 182.8 C

•CECc3Y 42000

î³íáõß Æç¨³Ý 22447 23266 25900 34000 55300 85700 39.2 40.2 48.5 74.3 132.9 242.2 Ac•3Y

N 50700

Tavush ´»ñ¹ 16914 16726 17000 23200 29500 33400 29.5 28.9 31.8 50.7 70.9 94.4 Lâ

••n1 28800

ÜáÛ»Ùµ»ñÛ³Ý 15453 14600 13400 19000 27600 26.7 27.4 29.3 45.7 78.0 UaU âUƒÊ

ânU3Y 17000

²ÛñáõÙ 10000 18000 18900 21.8 43.3 53.4 2UnaoU 18000



Source: Data from the Cadaster Committee -- cadastre.am with some adjustments by AEA.





Exchange Rate -- Drams per USD 573.35 578.76 533.45 457.7 416.05 353.9

* Average of weighted low and high calculated by AEA