Expert: Armenian real estate market needs better investment environment

28.10.2009 21:09
Expert: Armenian real estate market needs better investment environment

YEREVAN, October 28. /ARKA/. Armenia should improve investment environment on its real estate market, Hakob Baghdasaryan, the president of Akcern Real Estate Corporation said Wednesday in an interview with ARKA News Agency.

“Armenian real estate market is developed higher than in Georgia, but investment microclimate in Georgia is more favorable than that in Armenia, If we don’t take necessary steps to improve our investment environment, our advantage will melt away”, he said.

Baghdasaryan said that foreign investors show a great interest in Armenian market.

Most interested are overseas Armenians.

Russian invertors started showing interest recently.

Armenians from Iran are interested in our country’s real estate market as well.

The greatest interest is shown by Russia, then Iran, the United States and other countries come.

The market was stricken by the global recession.

Armenian State Real Estate Cadastre says some 65,600 realty deals have been concluded in Armenia over the period between January and June 2009.

This result is 14.2% worse than that of the same period a year earlier. -0--


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