2026-01-26
In 2024, Armenia recorded 15,730 real estate purchase-right transactions, with 82% completed in Yerevan and 18% in the regions.
Despite early predictions of a market “collapse” in 2025, actual data shows a different picture. Transaction volumes have declined, but prices have remained stable. Total transactions in 2025 are projected at around 11,500, a 27% decrease compared to 2024.
The decline is uneven: transactions in Yerevan fell by about 43%, while activity in the regions increased by approximately 45%.
This shift is largely explained by the “boom effect” at the end of 2024, driven by the expiration of the income tax refund program in Yerevan. Once this one-time factor is excluded, the market shows only minor fluctuations, indicating stabilization rather than decline.
