Property for Sale in Armenia

Location, climate, economy and infrastructure

Armenia (officially the Republic of Armenia) is a small state in the southern part of the Transcaucasus. It borders with Turkey in the west, Georgia in the north, Iran in the south, Azerbaijan in the east. Armenia is famous for its magnificent nature and stunning picturesque mountain landscapes. This is a country with a rich and authentic culture, located at the crossroads of Europe and Asia, which fascinates with hospitality, historical and cultural heritage.

Armenia is located in the subtropical zone, but such a climate is present only in the southern territory of the country. The rest of Armenia is dominated by alpine and continental climate. The summer months are dry and sunny, while the winter months are cold with frequent snowfalls.

Armenia is an agro-industrial country. Leading industries: mechanical engineering and metalworking, chemical and petrochemical, non-ferrous metallurgy, production of building materials. The extraction of copper, molybdenum, the cultivation of grain, cotton, and sericulture are developed. Fruit growing and viticulture are of great importance. The main types of transport are road, rail, pipeline, air transport. All cities are connected by roads, there are international routes as well. There is a railway network that connects the largest cities of Armenia, there are 10 local and 2 international airports.

Why buying real estate in Armenia is profitable

Residential real estate in Armenia is a fairly profitable asset with minimal time costs. Apartments and houses in the Armenian jurisdiction are constantly becoming more expensive, including as a result of the increased interest of foreigners in the Armenian housing stock. In recent years, there has been an increased interest in real estate in Armenia also because of the affordable cost.

The most reliable are investments in real estate in Yerevan (objects are bought for their own residence, recreation, rent). This has a significant impact on the real estate market in Armenia. Accordingly, Yerevan has the highest real estate prices in the country, it is the capital, the tourist, business and industrial center of the republic, the labor market and all basic services are concentrated here. The capital market is also the most active in terms of the number of participants (30% of all real estate transactions take place in Yerevan). Among other advantages of acquiring real estate in Armenia, it is worth noting the following:

• favorable climate, clean air and incredible views;
• balneological and other resorts - the country is considered the center of Caucasian healing;
• visa-free regime for many citizens of the CIS countries, the EU, etc.;
• strong economy;
• low mortgage rates;
• the market is attractive for buying residential real estate (in the absence of any restrictions for foreign citizens, the cost of residential properties, even in the center of Yerevan, rarely exceeds 100 thousand USD);
• high demand for rental property due to the growth of tourism and population due to repatriation and urbanization;
• guaranteed increase in the value of real estate objects according to expert estimates and forecasts.

Real estate in Armenia is represented by any type of living space, ranging from a small studio apartment to luxurious mansions and villas in the suburbs of large cities. Customer reviews confirm that the primary residential real estate in Armenia in the residential complexes is of high quality, meets modern requirements and seismic resistance standards. During the sale of projects under construction, developers offer promotions, discounts, and installment payments. The real estate of the country is characterized by a small number of objects under construction, so non-residents often choose secondary real estate.

For investors, the purchase of real estate in Armenia is an effective tool for increasing equity, as prices per square meter (commercial and residential) are steadily rising, which guarantees high profitability of investments from rental and resale.

The cost of real estate in Armenia

The price of real estate in Armenia is relatively low, it depends on the region and the individual characteristics of housing. The further the object is from major cities and resort areas, the lower the prices. Thus, the center - Kentron - is considered the most expensive and prestigious district of Yerevan. The average market price per square meter here varies from about 1,000 to 5,000 USD. In most other administrative regions, prices are one and a half times lower.

Approximate prices for real estate in Armenia:

• one-room apartment in the center of Yerevan - from 50,000 USD;
• two-room apartments in the most expensive district of the capital - from 60,000 USD;
• land plot within Yerevan - from 50 USD per square meter;
• a finished house with a turnkey renovation of 80 square meters on a plot of three acres - 30,000-35,000 USD;
• in the resort of Dilijan or Aghveran, plots cost from $25 per square meter, building a house - from $250-500 per square meter.

Types of real estate for sale

Potential investors can choose from the following types of real estate in Armenia:

• residential (apartment, house, penthouse, cottage, mansion, villa, etc.);
• commercial (shopping space, office space, warehouses, garages, etc.);
• land.

Real estate website in Armenia

The GEOLN.COM real estate website with a convenient search interface, which presents the current catalog of real estate in Armenia helps investors find and buy residential property in Armenia. On the site you can choose apartments according to the necessary parameters without intermediaries and take advantage of the advice of specialists.

Buying real estate in Armenia by foreigners: the nuances of investing

The country's legislation does not restrict non-residents in the choice and registration of commercial or residential real estate. Non-residents have access to any action in relation to real estate after registration of ownership (resale, lease, will, personal use, etc.). The deal does not require any government approval, nor does it require proof of Armenian descent or other ties to the country. Moreover, the purchase of real estate may become the basis for obtaining a residence permit (the object must be used for business, for example, rented out).

We suggest that you seek qualified assistance from specialists to minimize risks and losses. GEOLN experts carry out a high-quality selection of objects according to individual parameters, provide a comprehensive support service for the safe execution of a transaction. The purchase and sale of real estate in Armenia is provided by professionals with many years of experience.

Buying real estate in Armenia is a profitable investment with a reasonable calculation of income from the rental and resale of housing in a country with excellent opportunities for recreation, recovery and comfortable conditions for permanent residence.