Active buyers of apartments in new buildings decreased

In the first half of the year the price of primary housing fell by 3.3%, while in the secondary market it increased by 4%.

As stated in the report published on the Monetary Policy of the Central Bank of RA for January - June, this means that the activity observed in the local real estate market in the first quarter, from April to July decreased.

According to the authors of the report, the prices of secondary housing increased due to lower demand, and hence the supply of real estate. Therefore, the price per square meter in this segment is still 10.9% lower than at the end of 2008 and in the primary market it is lagging behind at 26%.

In January - June rental of residential and commercial buildings rose by 10.1% and 10.6% respectively.

The process of mortgage lending activity had an impact on the real estate market, especially in the secondary housing market. The funds allocated from the state budget in the first half of more than 450 families have received social mortgage loans totaling 15 million manat.

In the first half, apart from the social mortgage, credit institutions authorized by AMF granted more than 560 families mortgage loans worth 22 million manat. - 17D-