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Buying Real Estate in Armenia 

Buying Real Estate
in Armenia 2020

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.

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

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 $27,000
  • Up to 15% ROI yearly
  • 100% ownership
  • Turnkey project
  • Opens October 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.


74 Zaryan



106/1 Nalbandyan St.



3 Northern Ave.



2 Sasna Tsrer St.



40, Dzorap St.



64 Aram St.


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    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.

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    Property Search


    Information on  properties in Armenia is abundant on listing websites such as,, and 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.


    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.

    Tips on Selecting Rental Property in Yerevan

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    Nerses Isajanyan


    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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