“Crude Oil Prices Bounce Back after US Decline, Brent Hits $83.97 per Barrel”
Crude oil prices rebounded after a decline in the US market. Brent crude rose to $83.97 per barrel, while WTI crude reached $79.51 per barrel. Both benchmarks closed at their lowest levels since March 12th. International benchmark increased 0.4%, while the US benchmark dropped 1.5%.
“Armenia sees continued decline in consumer price index, Central Bank maintains restrictive monetary policy”
The consumer price index in Armenia continues to decline, reaching 1.2% in Q1 2024. Inflation rate also decreased with a 0.7% increase in March. The Central Bank of Armenia aims to contain inflation risks and maintain stricter currency resource management to stabilize inflation expectations.
“Decline of underground water resources in Ghazakhstan leads to epidemic risk and agricultural devastation: Ural Week warns”
Due to declining underground water resources, old irrigation canals in Ghazakhstan, Armenia have dried up, posing a risk of spreading an epidemic disease. 8,000 hectares and 14 reservoirs have been affected, endangering both residents and animals. The second phase of the drought is ongoing, with water levels in the river significantly lower compared to last year. Water supply from Russia has also decreased.
“Experts Say Second-Hand Apartment Prices in Yerevan Decreasing Amidst Emigration and Socio-Economic Situation”
The prices of second-hand apartments in Yerevan are decreasing by nearly 15%, experts say. The decline is attributed to emigration of foreign residents and the socio-economic situation. The rental market has also been negatively affected. Popular districts for apartment rentals in downtown Yerevan include Aram and Northern Avenue. Prices start from 2 million drams ($4,000) per square meter and vary in the suburbs. The primary housing market, however, remains unchanged. Security risks and the banking system’s suspension of mortgage lending are contributing factors to the decline.
“Real Estate Market in Yerevan Continues to Decline Despite Reasonable Explanations, Report Shows”
In October, the real estate market in Yerevan experienced a decline in transactions and an increase in average prices. Factors such as the end of housing programs and the economic crisis caused by the pandemic contribute to this negative trend. The Center and Arabkir districts are particularly affected. The increase in mandatory expenditures and mortgage rates further impact the market. Overall, the real estate market in Yerevan is facing challenges in affordability and market stability.