14/03/2013 19:00
Prime minister discusses low property appraisals
The Armenian government approved today the draft laws on making additions to the RA Law on Real Estate Appraisal Activity.
Prime Minister Tigran Sargsyan said that different appraisers value the same property at different prices. According to him, the commercial banks work only with three or four appraisers who, as a rule, set very low prices when appraising a property.
In his words, Armenian commercial banks work with a small number of appraisers, whereas there are dozens of them in the market, as a result of which there is no competition.
The prime minister instructed Chairman of the State Commission for the Protection of Economic Competition to conduct checks regarding competition and reveal if there are any agreements, which hinder the normal development of the market.