Foreigners` transactions on buying and selling property  reduced in  Armenia

ArmInfo.1,024 real estate purchase and sale transactions were made by foreign citizens in  Armenia, in Q1 2023, which is 2.1% lower than a year ago. Moreover, 9.4% of the total number of transactions were made by foreigners (against 8.6% a year earlier). Usually, the number of foreigners  selling real estate in Armenia prevails over the number of buyers. This is evidenced by the data of the RA State Committee for Real Estate Cadastre.

Thus, during the reporting period, foreigners made 642 transactions  for the sale of real estate, 349 - for buying, and 33 - for both  buying and selling. As a result, 12,023 real estates were bought by  foreigners for Q1 2023, and 675 real estates were sold, respectively.

At the same time, the lion's share of real estate purchased by  foreigners falls on apartments - 50.5%, followed by land - 18.1%, own  houses - 16.2%, garages - 8.1%, public buildings - 5.5 %, and the  lowest percentage falls on the purchase of industrial buildings -  1.6%.

As in buying and selling, apartments account for the largest  percentage - 39.1%, land is slightly less - 33%, followed by own  houses - 22.2%, and a much smaller percentage are garages - 3.1 %,  public buildings - 1.8%, and industrial buildings make up a very  small percentage - 0.7%.

The most active buyers and sellers of real estate in Armenia are  citizens of the Russian Federation, the United States, Iran, a number  of European countries and the CIS.