A drop in apartment prices was reported in Yerevan in January

An average market price of 1 sq.m. in Yerevan-based apartment houses dropped by 0,4% in January 2017, as compared with December 2016, whereas the private house prices dropped by 0,2%.

The apartment and private house prices in other cities throughout the republic haven’t changed as compared with previous month.

The most expensive apartments are located in the capital’s Kentron (translated as ‘center’) administrative district, whereas the cheapest ones – in the peripheral Nubarashen district, where the prices are almost twice lower than in the city center.

As for other cities and towns of the republic, the most expensive housing is said to be in Tsaghkadzor.

By the value the apartments in this resort town are second only to Yerevan apartments of Kentron and Arabkir communities (central part of the capital).

The cheapest apartments are available in Armenia’s Shamlug (Gegharkunik province) and Dastakert (Syunik province) towns. 1 sq.m. in the apartment building there amounts to AMD 8,000 (a little bit more than US $16,000), which is 36 times cheaper than in Tsaghkadzor and 56 times cheaper than the apartment price in the capital’s Kentron administrative district.