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Buying Real Estate in Armenia 

Buying Real Estate
in Armenia

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Foreign Ownership of Real Property

Foreigners can be 100% owners of real estate in Armenia: they can acquire, hold, lease, sell, bequest and otherwise dispose of their property on equal basis with locals. Foreigners do not need to have a residence permit or otherwise show any links to Armenia.  At the same time, investing in real estate might qualify you for a temporary or permanent residence permitThe only restriction applies to foreign ownership of agricultural land. When buying agricultural land in Armenia a foreigner may need to set up a legal entity and acquire the land in the name of that entity. Agricultural land can also be directly owned by foreigners who have special residency status in Armenia.

Real Estate Investment Opportunities

Vacation Property Investment

Units are now for sale in an apart hotel ideally located in the ski resort town of Tsaghkadzor (valley of flowers in Armenian), the most desirable tourist destination in Armenia, only 50km north of the capital Yerevan. Surrounded with alpine meadows, the town is situated at a height of 1,841 meters above sea level. Summers in Tsaghkadzor are mild, while winters are cold and snowy. The skiing season normally starts in mid December and stretches well into March with the top slopes often fit for skiing in April. The infrastructure of tourism is highly developed in Tsaghkadzor, which is the second Armenian city after Yerevan to have the largest number of hotels. 

  • Units from only $23,000
  • Up to 20% ROI yearly
  • 100% ownership
  • Turnkey project
  • Opens early 2020
  • Regular income
  • Growing property market
  • Capital growth potential
  • Low taxes
  • No stamp duties
  • No capital gains tax
  • 10%+ tourism growth
  • Exceptional safety
  • Mountains & skiing
  • Tasty food

Residents will enjoy a great view of the mountains. A professional company will manage the property. You may choose to personally use the property or rent it out and make extra money. Higher occupancy and rental rates means more income and higher resale profits. Tourism is growing by over 10% a year, making Tsaghkadzor a perfect place to earn a good return on property investment.

Legal Guide to Buying Armenian Property

The entire process of buying a property in Armenia takes 1-2 weeks on average, although it is technically possible to complete all the formalities in 1-2 days by using the fast-track services. Armenia ranks very high – the 14th – among 190 countries on the World Bank’s “Registering Property” index which measures both the efficiency and the quality of the property registration system. By way of comparison, the U.S. ranks 38th, the U.K. – 42nd, , France – 96th.

#1. Ownership Structure

#2. Payment Methods

#3. Appraisal and Survey

#4. Establishing Good Title

#5. Offer to Buy

#6. Preliminary Agreement

#7. Purchase and Sale Agreement (Deed of Sale)

#8. Registration

#9. Fees and Taxes

#10. Mortgage, Banking & Insurance

#11. Currency Exchange & Anti-Money Laundering Regulations

#12. Inheritance

#13. Tips and Pitfalls to Avoid

Why Invest in Yerevan Real Property

100% Foreign Ownership

High Appreciation Rates

High Rental Yield

Fast & Safe Registration

No Gift or Inheritance Taxes

No Tax on Capital Gains

Low Property Taxes

No Stamp Duties

Residency & Citizenship

Free Online Advice - Ask a Lawyer

Real Estate 2018.11.27

Our Services

  • Property Searches
  • Due Diligence Checks
  • Appraisal & Survey
  • Negotiations
  • Tax Planning
  • Inheritance Planning
  • Document Preparation 
  • Bank (Escrow) Accounts
  • Assistance with Payments
  • Official Registrations
  • Post-Purchase Services
  • Residence & Citizenship
  • Company Registration
  • Certified Translation
  • Power of Attorney

Property Prices in Central Yerevan

Armenian real estate market grew exponentially between 2002 and 2008 with prices going up by 570%. In 2009 the country’s economy was hit by the global financial crisis and real estate prices went gradually down over the next few years. They remained flat during 2014-2016, and started growing in 2017. In 2018 prices in central Yerevan went up by 18.8%. The main factors contributing to the increase in prices are:

  • Growing economy (5.2% GDP growth in 2018)
  • Lower mortgage interest rates. The rates went down from 18% in 2009 to 10.5% in 2017 and are expected to further decrease to 7-7.5%
  • Higher demand for rental properties, driven by growth in tourism (18.7% in 2017) and growing city population due to repatriation and urbanization.
  • Bank deposits become a less attractive alternative to rental property investment as interest rates on deposits continue to decrease. 
  • Limited construction of new dwellings in central Yerevan.

Last 12 Months

Month

Price

Change

Jul 19

$1,272

+1.1%

Jun 19

$1,258

+1.5%

May 19

$1,239

+0.9%

Apr 19

$1,228

+1.9%

Mar 19

$1,205

+2.4%

Feb 19

$1,177

+0.2%

Jan 19

$1,175

-0.1%

Dec 18

$1,176

+1.2%

Nov 18

$1,162

+0.8%

Oct 18

$1,153

+0.8%

Sep 18

$1,144

+2.7%

Aug 18

$1,114

-0.4%

Change in 12 Months

+14.2%

Last 12 Years

Year

Price

Change

2018

$1,094

+18.8%

2017

$921

+4%

2016

$885

0%

2015

$885

-1.8%

2014

$901

-14.4%

2013

$1,053

+3.1%

2012

$1,021

-10.8%

2011

$1,144

-10.2%

2010

$1,274

+2%

2009

$1,248

-20.8%

2008

$1,576

+6.9%

2007

$1,474

Change in 12 Years

-25.8%

Property Search

Listings

Information on  properties in Armenia is abundant on listing websites such as estate.am, myrealty.ambnakaran.com, and list.am. These websites can give an idea of the type of properties available and their prices before you actually start your search. Having a clear idea of the type of property you are looking for (main residence, holiday home, rental or investment property) and its location (town or the countryside) will help make the property hunt a lot easier.


Agents/Brokers

The services of real estate agents in Armenia are generally limited to bringing together the seller and the buyer. Normally they do not have exclusive agency rights, and one property can be listed by dozens of agents who will indicate different prices. In Armenia it is common for the agents to charge 2% to the seller and 2% to the buyer, bringing the amount of the commission to 4% of the value of the deal. The buyer will be asked to pay the commission separately and on top of the price of the property. The agents are not licensed by the government or any professional association. They are not bound by any code of ethics, not bonded, and if anything goes wrong with the sale they will not take any responsibility. They also have a strong incentive to sell the property at the highest possible price as their commission will ultimately be based on it.

Tips on Selecting Rental Property in Yerevan

Properties for Sale in Yerevan, Armenia

Grid
List

Land For Sale

Yerevan

5Picture(s)
$185,000

Land For Sale

Yerevan

5Picture(s)
$13,000

Land For Sale

Yerevan

3Picture(s)
$265,000

House For Sale

Jrvej, Yerevan

5Bedroom(s)
2Bathroom(s)
22Picture(s)
600
$125,000

House For Sale

Saralanj, Yerevan

4Bedroom(s)
1Bathroom(s)
13Picture(s)
148
$72,000

House For Sale

Moldovakan, Yerevan

1Bedroom(s)
1Bathroom(s)
26Picture(s)
50
$52,000

Apartment For Sale

Abovyan, Yerevan

1Bedroom(s)
1Bathroom(s)
16Picture(s)
70
$145,000

Apartment For Sale

Sayat-Nova, Yerevan

1Bedroom(s)
1Bathroom(s)
29Picture(s)
130
$150,000

Apartment for Sale

Deghatan, Yerevan

2Bedroom(s)
2Bathroom(s)
5Picture(s)
130
Tucked away from the majority of the noise and traffic within the city center, this ideal property is located within 5 minutes of the Republic Square, and within 10 minutes from Rossia Mall, a myriad of parks, a hospital and public spaces. In this region, cafes and restaurants are located within a minute’s walk. At 130sqm, this is considered prime property within a high rental demand region.
$195,000
    9 Results returned.Per Page

     

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    Nerses Isajanyan

    Attorney

    LL.M. Georgetown University

    New York Bar | Armenia Chamber of Advocates

    We are a team of licensed lawyers based in Armenia and Georgia. Our primary commitment is to provide quality service to clients at a compelling value that helps manage risk, overcome regulatory issues and advance their personal and business goals. We combine local experience with international expertise to provide quality legal advice in prompt, effective and efficient manner. 


    For more information on buying real property in Armenia please fill out the free online inquiry form above or email us at [email protected] .

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