2026-09-02
In July 2026, 2,080 purchase rights were registered in Armenia’s primary real estate market. The July result indicates that the high level of activity established during the first half of the year was maintained at the beginning of the second half. Following the April peak, the market entered a period of relative stabilization in May and June. However, the growth recorded in July shows that this change did not represent a weakening of demand, but rather the market’s natural month-to-month movement.
The 2,080 purchase rights registered in July represent the second-highest monthly result of 2026. Higher activity was recorded only in April, when the number of purchase rights reached 2,153. Compared with the 1,588 purchase rights registered in June, the July figure increased by approximately 31%. Compared with the 945 purchase rights recorded in July of the previous year, the increase amounted to approximately 120%. The figures show that activity in the primary market remains high, with no significant slowdown following the end of the first half of the year.
The high level of activity during the first seven months of 2026 has been driven by several interconnected factors. The supply of new developments has expanded, while the long-term installment plans offered by developers allow buyers to acquire property without paying the entire amount upfront or immediately relying on bank financing.
The structure of demand is also changing. Following the termination of the income tax refund program in Yerevan, interest has become concentrated around projects offering competitive prices, flexible payment terms, and investment potential. Project quality, location, infrastructure, and prospects for future appreciation are playing an increasingly important role in buyers’ decisions.
At the same time, there is a noticeable increase in interest from foreign investors and Armenians living abroad. For them, Armenia’s primary real estate market represents an opportunity for capital preservation, rental income, and long-term appreciation. Prices available during the construction stage, remote transaction options, and installment plans make their participation more accessible.
Another important area of activity is the regions surrounding Yerevan, where the income tax refund program remains available until the end of 2026. The approaching deadline is accelerating buyers’ decisions and shifting part of the demand toward new developments outside the capital.
The market is also influenced by increased sales activity across projects at different stages of construction. Relatively affordable presale prices and extended payment periods lower the barriers to entering the market. Thus, current activity is being shaped by a combination of new supply, financial flexibility, the geographical redistribution of demand, and the participation of domestic buyers, foreign investors, and Armenians living abroad.
The 2,080 purchase rights registered in July confirm that the primary market entered the second half of the year with high activity. Following the April peak, the market maintained its momentum, with July once again approaching the year’s highest level. The current market picture indicates that activity is being supported simultaneously by the expansion of new supply, flexible payment terms, growing interest in regional developments, increased participation by foreign investors, and expanding investment activity among Armenians living abroad.
Data source: Cadastre Committee of the Republic of Armenia
Developed and supplemented by RED Invest Group
