Suren Tovmasyan: There are no buying and selling restrictions for  foreigners in real estate market of Armenia, except for transactions  with agricultural lands

ArmInfo. There are no restrictions for foreign citizens on transactions of purchase and sale of real estate in Armenia, with the exception of the purchase of agricultural lands. Chairman of the Real Estate Cadastre Committee Suren Tovmasyan told reporters on January 25 during a briefing, answering a question about the possible acquisition of real estate in Armenia by citizens of Azerbaijan and Turkey.

When asked if there is information about the amount of real estate  acquired by residents of Azerbaijan and Turkey in Armenia, Tovmasyan  noted that the results for the year are now being summed up and the  Cadastre Committee will publish a report on transactions with  foreigners. However, if the media sources are interested in citizens  of specific countries, then, according to the head of the Committee,  the latter can contact the department with an official written  request and receive the necessary information.

According to cadastral data, foreigners made 4,479 real estate  purchase and sale transactions in Armenia in 2023, which is 9.3%  lower than last year's figure. As a result, they bought 1,645 real  estates (y-o-y decrease: 15.6%), and sold 2,987 (y-o-y decrease:  5.9%).

The list of main participants in purchase transactions includes  citizens of the Russian Federation (66.6%), followed by the USA  (9.4%), Iran (3.8%), citizens of EU countries account for 12.1%, CIS  countries (except for the Russian Federation ) 3.3%, in other  countries - 4.6%.

Citizens of the Russian Federation were also more active in selling  real estate in Armenia - 74.2%, followed by the USA - 7.3%, Iran -  2.4%, Syria - 0.1%, EU countries - 7.2%, CIS - 5.6% and other  countries - 3.1%.