Foreigners` transactions on buying and selling property reduced in Armenia

ArmInfo. In Armenia, in the  first half of 2024, foreign citizens completed 1,737 real estate  purchase and sale transactions, which is 21.8% lower than a year ago.   Moreover, of the total number of transactions, the share of  transactions made by foreigners accounted for 6.4% (versus 9.4% a  year earlier). This is evidenced by the data of the RA State  Committee for Real Estate Cadastre.

Traditionally, the number of foreigners selling real estate in  Armenia prevails over the number of buyers.  According to cadastral  data, in the first half of the year there were 1,077 real estate  sales transactions, 592 purchase transactions, and 68 purchase and  sale transactions.

As a result, in the first half of this year. 660 real estate  properties were purchased by foreigners and 1,145 were sold,  respectively.

At the same time, the lion's share of real estate purchased by  foreigners falls on apartments - 41.7%, followed by land - 22.6%, own  houses - 18.6%, garages - 10.9%, buildings of public importance - 5.6  %, and the lowest percentage falls on the purchase of industrial  buildings - 0.6%.

In sales, the main share falls on land transactions - 36.4%, followed  closely by apartments - 32.4% and own houses - 25.3%. A small portion  comes from the sale of garages - 3.2%, public buildings - 2.4%, and  industrial buildings - 0.3%.

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