Will flats become still cheaper?
The prices of flats have scaled down in Yerevan City. Both realtors and Yerevan citizens confirm the drop in prices. Nevertheless, there are no buyers.
According to the State Committee of Real Estate Cadastre, some 10974 bargains were concluded in March 2009, which is 16 percent lower last year's data. The purchase of flats has gone down by 43, 9 percent.
"It is already seven months my neighbour has put his flat on sale. Prices keep dropping but there are no buyers. No one seems interested in real estate today," said Yerevan citizen Rima.
There are still many people who expect further drop in prices. They continue buying newspapers to get information on house prices.
Real estate agencies say the number of buyers has considerably reduced in comparison with the previous years. "Though the prices have gone down by averagely 40 percent there are few buyers today," say the employees of "Altandem" Real Estate Agency.
There are many people who sell their flats to pay back their hypothecary debts.
