In 2022, there was a boom in sales in the Armenian real estate market, largely due to foreign demand. Citizens of other countries purchased 1,950 objects (apartments, houses, garages, commercial buildings, land plots), which is 23% more compared to 2021.
The most active buyers of Armenian real estate were Russians. They concluded 1207 transactions, which is 45% more than the previous year. They are followed by investors from the United States and Iran.
In Yerevan, the rental market has grown by 10% over the year, and rental rates for housing and commercial premises have increased by 2 times.
The real estate agency Kentron told that in the last few years there has been an upsurge in the Armenian real estate market. Last year, due to the Russian-Ukrainian conflict, many people came from Russia, which led to a boom in rental transactions, and subsequently to an increase in prices for renting and buying apartments. "We have received a large flow of appeals from Russian citizens, mainly from IT companies. They started to relocate their business together with the staff," the director of the agency "Kentron" Vahe Danielyan shared his observations. Thus, many commercial and residential areas were leased.
A source: Armen Press
