The sales and purchases of residential building apartments in Yerevan have dropped by 29.4% in April of this year, as compared to April last year, and the number of real estate transactions in the whole republic dropped by 15.8%, Haykakan Zhamanak daily reports with reference to the State Committee of Real Estate Cadastre of the Republic of Armenia.
"This situation in the real estate market reflects the socioeconomic crisis situation in Armenia. Such a plunge was recorded during the crisis of 2008-2009. There has been a sharp decline in mortgage transactions. The number of such transactions has decreased by 41.2% as compared to April last year," NEWS.am cited Haykakan Zhamanak as saying.
