ANALYZING PARADOXES OF CUSTOMER BEHAVIOUR ON REAL ESTATE MARKET (illustrated by Armenia)

Abstract

The foundation of the article was provided by the research which showed certain paradoxes in the law of demand and supply on real estate market. There are situations on this market when the law of demand and supply acts in the opposite direction, i. e. when increase in prices does not always lead to higher demand. The research done within the frames of this article showed that dynamic shifts on real estate market, which demonstrate cyclic nature are very important for studying economic phenomena in general on the national market. The author calculated the index of price flexibility on demand of real estate market.

Keywords

• paradoxes of the law of demand and supply on real estate market
• cyclic nature of real estate market
• index of price flexibility on demand of real estate mark