The rise in apartment prices in Yerevan isn’t “the greed of owners.” It’s the market—demand and supply.
When a country develops, people return, new people come in, demand increases, and the capital’s territory and the number of apartments are limited—so the price rises. According to the World Bank’s September data, in July, apartment prices in Yerevan’s center increased year-on-year by 12.7%, while the number of transactions nearly doubled.
For thirty years, poverty was “solved” by providing “cheap housing,” but that was not development. Today Yerevan is changing, being built up, demand is growing, and the market sets its price.
And one simple thing: private property belongs to its owner. No one has the right to dictate at what price someone else’s apartment must be sold or rented.
Yerevan is a small capital city. Demand is high. This is economics, not charity.
When a country develops, people return, new people come in, demand increases, and the capital’s territory and the number of apartments are limited—so the price rises. According to the World Bank’s September data, in July, apartment prices in Yerevan’s center increased year-on-year by 12.7%, while the number of transactions nearly doubled.
For thirty years, poverty was “solved” by providing “cheap housing,” but that was not development. Today Yerevan is changing, being built up, demand is growing, and the market sets its price.
And one simple thing: private property belongs to its owner. No one has the right to dictate at what price someone else’s apartment must be sold or rented.
Yerevan is a small capital city. Demand is high. This is economics, not charity.