Residential Real Estate in Armenia

06.12.2009 13:52
House with views of the future

Intensifying interest in the capital's residents to suburban real estate realtors have noted since 2006, and, apparently, it is gradually gaining momentum. True, the rural property into a fully fledged alternative to the capital's housing is not transformed, and the exodus of urban dwellers in the city, too, is not observed. Realtors predict a qualitative change in this market segment over the next two years, as well as the rise in suburban real estate, as new housing construction is still very small.

The very structure of demand has not undergone major changes. Demand for affordable housing exceeds the demand for expensive four-fold. According to director of real estate agency "M & M" Harutyun Martirosyan, "the main demand is for the home area of ??80 sq ft to 200 sq ft and the cost of 200-500 dollars per square meter. The leaders of north and east, where more favorable climatic conditions" . A fellow real estate agents "Agate" Vardan Gevorgyan, adds: "It all depends on the purpose of the buyer. If the buyer of real estate do not rule out the possibility of earning extra money from the garden-the garden, then he certainly is interested in houses in the southern direction."
The reasons for the growing popularity of suburban real estate very different: lower prices and favorable ecological conditions, the desire to move away from the metropolitan bustle, the fashion for suburban lifestyle, etc. For some suburban housing was the only way to solve their housing, and sometimes financial problems. Variants that use a lot. For example, the sale of city apartment and buying a house in the suburbs of the greater area. Or the proceeds from the sale of apartments worth to buy cheaper apartment in Yerevan, used for rent, and a small house in the country for their own accommodation. However, according to director of real estate agents, Cascade REALTY Vardan Avagyan, most buyers consider suburban housing primarily as a second home and use as a summer residence, not domicile. " Apparently so in demand, even in wealthy citizens homes and land for construction in the villages, in periods of long absence from the hosts have someone to look after the house. Although that surge of interest, which was observed several years ago to villages Ashtarak region, has subsided.
Harutyun Martirosyan confident in the future change in the structure of demand and interest of the population shift toward the cottage development in the organized settlements with the protected area is simply the market has not yet taken place, explains the director of "M & M". In the meantime, our citizens, according to Vardan Gevorgyan, "prefer their own home with a fence." This is explained not only the Armenian mentality, but also quite specific reasons.
Housing estates for our market, the new format. Proposals in this segment is very small. Currently, around Yerevan pyatnadtsatikottedzhnye build small villages. And actually actively construct one or two. Most developers put up for sale cottage villages in the initial stage, when the site has not erected. As a rule, built two houses in the sample, the others are built to order for money to buyers as their own well-capitalized developers do not have. Consumer demand is defined quite specifically in any area under construction or ready home. Therefore, the sale of cottage communities are still pretty sluggish. Plays no small role, and price. "Right now, the cost per square meter cottage homes comparable to the cost per square meter in Yerevan's new buildings - says Vardan Gevorgyan - while the area of ??a cottage, usually much larger flat area, respectively, the final sum is obtained by imposing".
According to realtors, the development of suburban real estate market is delayed and limited infrastructure in the suburbs of Yerevan. All still go to Yerevan to work, study, shopping, etc. If a family a few cars, there is a driver, then no problem. But if a car only the head of the family, year-round residence in the city becomes uncomfortable. Available in the villages of schools and shops discerning citizens, of course, is not satisfied.
In the cottage the situation even more complicated. The list of possible infrastructure for the unit and even a very large project is rather limited trade, services and technical services. If we consider that built settlements are designed for 25-30 homes (excluding "Vahagn"), it is clear that neither the schools nor kindergartens and shops within the village will not be-pointless venture. Have to wait until the development of cottage construction makes the suburbs of Yerevan is not less attractive for business than the capital itself, and drags along the development of common infrastructure. "Now we can say only one thing - says Vardan Avagyan - suburb will be actively developed, and primarily formed in the north and east. And it will be formed depends on the urban policy of regional authorities. To date, clear plans for development does not exist .
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