The Most Sought-After Properties are in Kentron, Davitashen and Arabkir Districts of Yerevan

The prices of Armenian properties, especially in the capital Yerevan, are steadily increasing. The absolute record of prices is set by the "expensive" center, where the average price increased by US$211 (or 22%). Next are the districts of Davitashen (US$79 or 15%), Arabkir (US$76 or 10%) and Ajapnyak  (US$66 or 14%).

In 2018, 11,700 apartments were sold in the capital, which is about 1,600 units (15.5%) more than in the previous year. The largest number of sales was also in the Central district. Most of the yearly transaction growth (about 73%) happened in the I and II quarters. In the third quarter, this figure slightly decreased (17%). And, in the fourth quarter, the growth was replaced by a slight decrease (0.5%).

In 2018, foreign nationals purchased 1,700 real properties in Armenia, and sold twice as much - 3,400 units.The share of Russian citizens was considerable in both acquisitions (53%) and sales (79%). Many of these foreigners are former Armenian nationals who acquired citizenship of Russia or other countries and then decided to sell their properties left back in Armenia. Apartment Prices Steadily Increase in Armenia, NEWS.am (Feb. 2, 2019) (in Armenian).