A Grant Thornton’s recent analysis (read the full publication here) of the real estate market in Armenia was released in July 2019. It is an independent, objective, comprehensive, and trusted study which primary purpose is to help individuals who are searching for data and real estate market time series analysis. It also intends to assist people and organizations involved in the real estate market and are in need for pure data or statistics, as well as analysis of the transactions in the market and the types of real estate.
The report provides an analysis of the structure of the real estate market, transactions, and types of property. It supplies a clear understanding of the market developments and enables comparison of the latest trends with those from the previous years.
After the decline and moderate growth in recent years, the analysis marked a substantial increase in the real estate market in 2018, mainly due to positive political and economic expectations of the market’s potential buyers. The report shows a 13% growth in Armenia’s real estate market reaching its high maximum of more than 160 thousand transactions.
Foreign citizens performed 10.9% of the total of buy and sell transactions in 2018. Sale transactions (1024) are approximately twice the number of purchase transactions (530). Only 63.2% of purchases and 37.3% of sales were performed in Yerevan. 70% of transactions involve the purchase and sale of apartments and residential houses. Regarding the public facilities, purchases in 2018 exceeded sales by 28%, or 17 transactions, compared to other types of property (except garage) (Real estate buy and sell transactions performed by foreign citizens in Armenia in 2018 made 10.9% of the total, ARKA.am, (August 1, 2019) (in English)).