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Investment guide

Property investment in Armenia

Armenia lets a foreigner buy flats and houses, but not land in general circulation: the restriction sits in the Land Code.

Get a shortlistOpen the catalogue
Median in the Housebook catalogue$2,891/m²based on 3 of 3 projects
Entry from$115,390
Projects in the catalogue3
Average yield7.8%Source: Vardanyan & Partners (armenian-lawyer.com)

Strengths

  • A private individual's sale of housing is generally not taxed, and rental income is taxed at 10 percent
  • Yerevan prices are rising

What to keep in mind

  • Buying property alone does not give a residence permit
  • The Central Bank rate is going up
  • Yield estimates still rest on law-firm data

Market

The property market in Armenia right now

$2,891/m²Median in the Housebook cataloguebased on 3 of 3 projects
3Projects in the catalogue
2026-11-13Exchange rate as ofexchangerate-api.com

Spread of price per sqm in the catalogue

$2,485/m² lower quartileupper quartile $3,524/m²

based on 3 of 3 projects

A price trend chart will appear once enough observations accumulate: daily snapshots of the catalogue aggregates have been collecting since August 2026, and we will not draw a line through a single point.

Rules

Buying rules in Armenia

Foreign ownership

Can a foreigner own property here?

100%

The Land Code (Article 4, part 3) restricts only foreign nationals and stateless persons; legal entities are not named in that provision. Whether a foreign company or an Armenian company with 100 percent foreign capital may own land is not officially confirmed: the only claim is a law firm's opinion with no reference to a provision. A local lawyer is needed.

Source: National Assembly of Armenia, arlis.am

More detail

A foreign citizen in Armenia can own a flat, a house and the plot under them, but not land in general circulation.

Land
Foreign nationals and stateless persons may not own land in Armenia and may act only as land users.the only exception in the text of the law is persons with special residence status; that status is abolished from 01.11.2026 and those already issued stay valid until expiry. Land Code, Article 4, part 3.

Source: National Assembly of Armenia, arlis.am

Exception for construction
The restriction does not apply to the plot adjoining a house, garden plots, plots for building and maintaining dwelling houses, public and production facilities, and blocks of flats.Land Code, Article 4, part 3.1.

Source: National Assembly of Armenia, arlis.am

Flat and building
When a building is sold, the land plot under it passes to the buyer together with the building.Civil Code, Article 564.

Source: National Assembly of Armenia, arlis.am

Registration of title
Transfer of ownership is subject to state registration; before registration the contract does not change relations with third parties.Civil Code, Article 563.

Source: National Assembly of Armenia, arlis.am

Foreign company
The Land Code (Article 4, part 3) restricts only foreign nationals and stateless persons; legal entities are not named in that provision. Whether a foreign company or an Armenian company with 100 percent foreign capital may own land is not officially confirmed: the only claim is a law firm's opinion with no reference to a provision. A local lawyer is needed.

Source: National Assembly of Armenia, arlis.am

Loss of the right to hold
If property passes to a person who may not own it, the owner must transfer it within 1 year, otherwise a court sells it with compensation.Civil Code, Article 282.

Source: National Assembly of Armenia, arlis.am

Practical conclusion: the reliable route for a foreigner is a flat in a block or a house with the plot under it.

Check offers to "buy land through a company" with a local lawyer: the Code does not address companies directly, we found no confirmation of such a scheme in official sources, and we do not recommend it.

Taxes

What taxes apply on purchase?

10%

Tax is 10 percent; if rent in a tax year exceeds AMD 60 million, a further 10 percent applies to the excess.

Source: National Assembly of Armenia, arlis.am

More detail

A private individual usually owes no tax on a sale, rent is taxed at 10 percent, and property tax is paid annually on a scale.

Sale of property
Income of an individual who is not an entrepreneur or notary from selling property they own is exempt from tax.the exception is the developer of a block of flats selling to an individual; if the activity is treated as entrepreneurial, the exemption is lost. Tax Code, Article 147, part 1, item 16.

Source: National Assembly of Armenia, arlis.am

Sale of land
Income from selling land of any purpose is exempt from tax.Tax Code, Article 147, part 1, item 38.

Source: National Assembly of Armenia, arlis.am

Rent
Tax is 10 percent; if rent in a tax year exceeds AMD 60 million, a further 10 percent applies to the excess.Article 150, part 7.

Source: National Assembly of Armenia, arlis.am

General income tax rate
20 percent from 2023.

Source: National Assembly of Armenia, arlis.am

Sale tax where the exemption does not work
10 percent, 20 percent for a developer.Article 150, parts 9 and 11.

Source: National Assembly of Armenia, arlis.am

Property tax, flat (annual, base in AMD)
up to 10 million - 0.05 percent; 10-25 million - 5,000 plus 0.1 percent of the excess; 25-47 million - 20,000 plus 0.2; 47-75 million - 64,000 plus 0.4; 75-100 million - 176,000 plus 0.6; 100-200 million - 326,000 plus 1; over 200 million - 1,326,000 plus 1.5 percent.Tax Code, Article 229, part 1, confirms 0.1 percent for the 10-25 million band; the hartak portal gives 0.2 and is wrong.

Source: National Assembly of Armenia, arlis.am

Property tax, house (base in AMD)
up to 7 million - 0.05 percent; 7-23 million - 3,500 plus 0.1; 23-50 million - 19,500 plus 0.2; 50-85 million - 73,500 plus 0.4; 85-120 million - 213,500 plus 0.6; 120-200 million - 423,500 plus 1; over 200 million - 1,223,500 plus 1.5 percent.

Source: National Assembly of Armenia, arlis.am

Phase-in coefficient
75 percent of the amount for 2025 and 100 percent for 2026 and after. Tax Code, Article 233, part 7; individuals pay by 1 December (Article 236, part 1).

Source: National Assembly of Armenia, arlis.am

Rental declaration deadline
1 May of the year after the reporting year (Tax Code, Article 156, parts 4 and 4.1, version HO-499-N of 04.12.2024; the hartak portal says the same). One law firm's claim of 1 July is not confirmed.deadlines have been changed (for 2024 it was moved to 1 November 2025), so check the deadline with the State Revenue Committee before filing.

Source: National Assembly of Armenia, arlis.am

Non-resident
A non-resident's direct sale of real estate is exempt under the same article; a non-resident is present under 183 days a year with the centre of interests outside Armenia.

Source: Vardanyan & Partners (armenian-lawyer.com)

Sale of shares of a property-holding company
Shares of a company that holds real estate, sold in the year of purchase and within 3 tax years, are taxed at 10 percent.

Source: Vardanyan & Partners (armenian-lawyer.com)

The exemption from sale tax works for a private individual. If You buy and resell systematically, the tax authority may treat it as business, so clarify Your status with a tax adviser before the deal.

Residency

Does a purchase grant residency?

There is no separate residence-for-property programme; the official migration service pages do not list real estate as a ground.

Source: Migration and Citizenship Service of the Ministry of Internal Affairs of Armenia

More detail

Buying property alone does not give a residence permit in Armenia.

Buying a home
There is no separate residence-for-property programme; the official migration service pages do not list real estate as a ground.law-firm reviews say the same.

Source: Migration and Citizenship Service of the Ministry of Internal Affairs of Armenia

Card terms
A temporary residence card is issued for up to 1 year, a permanent one for 5 years, a special passport for 10 years.

Source: Migration and Citizenship Service of the Ministry of Internal Affairs of Armenia

New system
From 01.11.2026 residency services move to a new electronic system, and the previous portal and app stop working.

Source: Migration and Citizenship Service of the Ministry of Internal Affairs of Armenia

Reform of the Law "On Foreigners"
Law HO-11-N was adopted on 20.01.2026, signed on 12.02.2026, published on 13.02.2026 and takes effect on 01.11.2026.primary text on arlis.am; a consulting firm earlier gave the date 01.08.2026.

Source: National Assembly of Armenia, arlis.am

Investor route
Article 29.6 of the law makes an investment a ground for permanent residence (for 5 years) under a procedure and conditions set by the Government; the law states no amount. We did not find the Government decision with the threshold and eligible assets as of 08.11.2026, and whether real estate qualifies is not confirmed.

Source: National Assembly of Armenia, arlis.am

Business ground
Article 29.4, part 3: an investment of at least AMD 2,000,000 in a company's charter capital (or shares or securities of that value), or a sole proprietor with at least AMD 1,000,000 on accounts or in turnover in the 60 days before applying. A ground for temporary or permanent status.

Source: National Assembly of Armenia, arlis.am

Special status
The 10-year special residence status is abolished (the former Article 18 is repealed), and those already issued stay valid until expiry under the law's transitional provision.

Source: National Assembly of Armenia, arlis.am

Figures such as 60,000 or 300,000 dollars "for residency through property" have no official confirmation from consultants, and we do not use them.

Before applying, check the current rules on the migration service site: from 01.11.2026 applications are accepted online only.

Buying process

How does the deal run?

20%

The rate is 20 percent; it is paid only if the seller is a VAT payer, a private seller charges no VAT.

Source: National Assembly of Armenia, arlis.am

More detail

The deal is made by a written contract certified by a notary and is registered with the Cadastre.

Form of contract
A sale contract for immovable property is made in writing as one document and is subject to notary certification.Civil Code, Article 562.

Source: National Assembly of Armenia, arlis.am

Registration
The right arises after state registration.Article 563.

Source: National Assembly of Armenia, arlis.am

Where to file
At any Cadastre office or online at e-cadastre.am.

Source: Cadastre Committee of Armenia

Cadastre fees
The first state registration of title is free; residential property, except separate garages, is exempt from both the registration service fee and the state duty; the exemption does not apply to accelerated registration. Basis: Article 73 of the law on state registration of rights to property and Article 16, item 36 of the law on state duties.

Source: Cadastre Committee of Armenia

Fees per the hartak portal (AMD 25,000 plus a state duty of AMD 1,000)
conflicts with the primary source, not confirmed, not used in calculations. Rely on the Cadastre.

Source: National services gateway hartak.am

Notary
AMD 10,000-20,000 for certifying the contract, AMD 30,000 for a power of attorney.a law firm's estimate, no primary tariff found, other reviews give AMD 10,000-15,000 plus a state duty of AMD 5,000; not confirmed.

Source: Vardanyan & Partners (armenian-lawyer.com)

Tax number and account
A tax number is issued in 15-30 minutes, and a bank account opens in 1-3 days.reference source.

Source: Repat Armenia

Mortgage
When a flat is bought with a mortgage, registration is possible only after the building's completion certificate.hartak portal data, not checked against a primary source.

Source: National services gateway hartak.am

VAT
The rate is 20 percent; it is paid only if the seller is a VAT payer, a private seller charges no VAT.the rate is from the Tax Code, the condition from law-firm data.

Source: National Assembly of Armenia, arlis.am

New build
We found no escrow law for buyers at the construction stage; on 14.04.2026 PanArmenian reported a plan to protect buyers through insurance, bank guarantees or frozen funds on special developer accounts, and we found no sign it was adopted.

Source: PanArmenian

Property tax and registration
From 30.08.2026 (HO-407-N, Article 236 of the Tax Code) the Cadastre generally completes registration only after property tax is paid; the first registration of an individual's title is exempt. For a seller this means settling accrued tax before the deal.as relayed by a law firm, the text of the act was not opened.

Source: Vardanyan & Partners (armenian-lawyer.com)

  1. Define the object: a flat or a house, not a separate land plot.
  2. Check the seller and the title records in the Cadastre.
  3. Obtain a tax number and open a bank account.
  4. Sign the contract with a notary; arrange a power of attorney if needed.
  5. Pay through a bank, not in cash, and keep the proof.
  6. File the documents for registration of title with the Cadastre.
  7. Receive the title extract and re-register utilities.

Money

Costs, mortgage and currency

A mortgage for a non-resident in Armenia is not available under every programme and is expensive, and the Central Bank rate is rising.

Property prices and mortgages are quoted in drams and dollars, so a change in the rate changes Your payment and the result on a sale. The dram-to-dollar rate is not put into the profile: not confirmed against the Central Bank.

Registration fees and the notary are described in the buying process section, property tax in the taxes section.

Source: Repat Armenia · Source: Central Bank of Armenia · Source: Central Bank of Armenia · Source: Armenpress · Source: arka.am · Source: Central Bank of Armenia

Costs, mortgage and currency
Cost itemRateWhat it means
Programmes for non-residentsOf 206 mortgage programmes, 52 are open to non-residents.June 2025, reference source.Source: Repat Armenia
Effective ratesIDBank 13.83 percent with a 20 percent down payment; Ardshinbank 14.00 with 30; Ameriabank Construction 14.95 with 0; Ameriabank Diaspora 14.97 with 10; Evocabank 15.20 with 30.the article's table contradicts its own text about a rate "from 6.9 percent", data of June 2025.Source: Repat Armenia
Central Bank rate6.5 percent from 16.12.2025, unchanged on 04.08.2026; 6.75 percent from 15.09.2026; 7 percent from 03.11.2026 (vote 6 to 2); inflation target of 3 percent with a band of plus or minus 1 point.decisions on cba.am, the 15.09.2026 meeting from Armenpress and the Central Bank's report.Source: Central Bank of Armenia
Inflation5.1 percent in June 2026 (press) and 4.3 percent in October 2026 (cba.am).Source: Central Bank of Armenia

Yield

Rental yields in Yerevan

Yield estimates in Yerevan come from a law firm and are indicative, and there is no official yield statistic.

Source: Vardanyan & Partners (armenian-lawyer.com) · Source: JAM News (Cadastre Committee data) · Source: Central Bank of Armenia · Source: arka.am · Source: arka.am

Average yield
Gross about 7.8 percent, net about 6 percent after management, maintenance and vacancy.an estimate by the law firm Vardanyan & Partners, the page names no data source, there is no official statistic.

Source: Vardanyan & Partners (armenian-lawyer.com)

Districts
Kentron 5.7-8 percent gross, Arabkir 8-10 percent gross.broker-level estimates.

Source: Vardanyan & Partners (armenian-lawyer.com)

Rental rates
According to the agency Silver REA, rents grew by about 15 percent over the year.an agency estimate, not official statistics.

Source: JAM News (Cadastre Committee data)

Demand drivers
A new wave of arrivals from Russia, students and the diaspora.

Source: JAM News (Cadastre Committee data)

Price to rent
The Central Bank governor in May 2026 acknowledged a rising price-to-rent ratio and a decline in the investment attractiveness of housing.as relayed by the press, the financial stability report itself was not opened.

Source: arka.am

Risks

Risks

The main risks are the land restriction, interest rates, uncertainty in residency rules and buyer protection in new builds.

Source: National Assembly of Armenia, arlis.am · Source: Central Bank of Armenia · Source: Central Bank of Armenia · Source: arka.am · Source: arka.am · Source: PanArmenian · Source: National Assembly of Armenia, arlis.am · Source: Asian Development Bank · Source: National Assembly of Armenia, arlis.am

Risk 2

Rates

The Central Bank rate rose from 6.5 to 7 percent over two meetings, 15.09.2026 and 03.11.2026, about seven weeks.

Source: Central Bank of Armenia

Risk 3

Market correction

Banks hold a buffer of AMD 180-190 billion (about 500 million dollars) against real estate risks; the previously feared 30 percent correction did not occur, the governor said in June 2026.

from press reports.

Source: arka.am

Risk 4

New builds

No escrow law found, buyer protection is still at the plan stage, with no sign of adoption.

Source: PanArmenian

Risk 6

External risk

The Asian Development Bank names a Middle East conflict as a risk.

Source: Asian Development Bank

Outlook

Macro outlook and price dynamics

The Armenian economy is growing and housing is getting more expensive, but growth is slowing and rates are rising.

Yerevan price growth in 2026 comes against a rising rate, so assess a purchase without assuming constant growth.

Source: Asian Development Bank · Source: Central Bank of Armenia · Source: JAM News (Cadastre Committee data) · Source: Armenpress (Tourism Committee data) · Source: Armenpress (Armstat data) · Source: Central Bank of Armenia

GDP
Growth of 7.2 percent in 2025 (5.9 percent in 2024); the Asian Development Bank forecasts 5.5 percent for 2026.

Source: Asian Development Bank

Average inflation
3.3 percent in 2025 (0.3 percent in 2024); the forecast is 3.8 percent for 2026 and 3.2 percent for 2027.

Source: Asian Development Bank

Housing prices
In Q4 2025, +12.2 percent year on year and +4.6 percent on the previous quarter; for January-December 2025, +5.9 percent.

Source: Central Bank of Armenia

Flats
In Q4 2025, +7.9 percent year on year (Yerevan +6.6, outside Yerevan +16.5); for the year, +2.6 percent. Individual houses: +27.2 percent year on year.

Source: Central Bank of Armenia

Transactions
In Q4 2025, 8,371 transactions worth AMD 261.8 billion.the index is built from Cadastre transactions.

Source: Central Bank of Armenia

Yerevan in 2026
Prices rose in all districts in Q2 2026; Nork-Marash AMD 553,000 per sq m (1,527 dollars), +24 percent year on year.Cadastre data as relayed by JAM News.

Source: JAM News (Cadastre Committee data)

Tourism
2,263,642 visits in 2025, +2.5 percent on 2,208,179 in 2024; from Russia 921,704, about 41 percent.agency data relayed by Armenpress. In July 2026 arrivals fell about 25 percent against July 2025 (Central Bank report).

Source: Armenpress (Tourism Committee data)

Economic activity
The index for January-September 2026 is +6.9 percent.this is an activity index, not GDP.

Source: Armenpress (Armstat data)

Demand
Net inflow of Russian citizens in March-July 2026 was about 87 thousand people, and rents are rising.

Source: Central Bank of Armenia

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Questions

Frequent questions about Armenia

Can a foreigner buy a flat in Armenia?
Yes. The restriction concerns land in general circulation, not flats and houses. A flat or a house with the plot under it is available to a foreigner.
Can a foreigner buy land?
In general no: a foreigner can only be a user. The exceptions are plots adjoining a house and plots for housing and blocks of flats. For foreign companies and Armenian companies with foreign capital this is not officially confirmed, a lawyer is needed.
Does buying property give a residence permit?
No, there is no separate programme. The investor route under the new law awaits a Government decision, which we did not find as of 08.11.2026; whether real estate qualifies is not confirmed.
What tax applies on selling a flat?
For a private individual the income from a sale is usually exempt. A developer or entrepreneur pays 10 or 20 percent.
How much is rental tax?
10 percent, and a further 10 percent on the part of annual rent above AMD 60 million.
Is there a property tax?
Yes, annual, on a scale from 0.05 to 1.5 percent of the base. Rates and thresholds are in the taxes section.
Is a notary needed?
Yes, a sale contract is subject to notary certification.
How is ownership registered?
By registration with the Cadastre, in person at an office or online at e-cadastre.am.
How much does registration cost?
The Cadastre: first registration of housing is free, accelerated registration is paid. The hartak portal's figures (AMD 25,000 plus duty) conflict with this and are not confirmed.
Can I buy through a power of attorney?
A notarised power of attorney is possible; a law firm's estimate is about AMD 30,000, not confirmed.
Do banks give mortgages to non-residents?
Some do: as of June 2025, 52 of 206 programmes are open to non-residents.
What are the mortgage rates?
Effective rates in the June 2025 table run from 13.83 to 15.20 percent. The Central Bank rate is 7 percent from 03.11.2026.
What is the rental yield in Yerevan?
A law firm gives about 7.8 percent gross and about 6 net; this is an estimate, not official statistics.
Are housing prices rising?
Yes, per the Central Bank, housing rose 12.2 percent year on year in Q4 2025.
Can I buy in a new build at the foundation-pit stage?
We found no escrow law, buyer protection is still a plan with no sign of adoption. Protect Yourself through the contract terms.
Is VAT paid on purchase?
Only if the seller is a VAT payer (20 percent); a private seller charges no VAT.
Sources (13)
  1. National Assembly of Armenia, arlis.am. Land Code of Armenia, Art. 4 parts 2, 3, 3.1, English text as amended by HO-85-N of 18.04.2025 (2025)
  2. National Assembly of Armenia, arlis.am. Civil Code of Armenia, Art. 282, 562-564, English text as amended by HO-394-N of 24.10.2024 (2024)
  3. National Assembly of Armenia, arlis.am. Tax Code of Armenia, Art. 25, 147, 149, 150, 156, 229, 233, 236, English text as amended by HO-499-N of 04.12.2024 (2024)
  4. National Assembly of Armenia, arlis.am. Law amending the Law "On Foreigners", HO-11-N (adopted 20.01.2026, published 13.02.2026, in force from 01.11.2026), Art. 29.4, 29.6 (2026)
  5. Migration and Citizenship Service of the Ministry of Internal Affairs of Armenia. Residency status and visa (2026)
  6. Cadastre Committee of Armenia. Real estate registration (2026)
  7. National services gateway hartak.am. Individual taxes (2026)
  8. Repat Armenia. Buying property in Armenia for non-residents: mortgages, documents and 2025 nuances, 15.07.2025 (data of 12.06.2025) (2025)
  9. Vardanyan & Partners (armenian-lawyer.com). Yerevan city center real estate prices in 2025: trends, investment data, 10.12.2025 (2025)
  10. Central Bank of Armenia. Residential Property Price Index, Q4 2025 report (2026)
  11. Central Bank of Armenia. Decision of 03.11.2026: the rate raised to 7.00 percent (2026)
  12. PanArmenian. News on plans to protect buyers of new-build housing, 14.04.2026 (2026)
  13. Vardanyan & Partners (armenian-lawyer.com). Armenia property buying: taxes and fees guide, 22.04.2025 (2025)

Sources

Sources and methodology

Where the data comes from

The market figures are the live Housebook catalogue aggregate for this country plus an external publisher's reading where one has been found and verified. The legal, visa and tax facts come from the country profile: every number names its source.

Methodology

The median and quartiles are computed over active catalogue projects with a known price per square metre. Prices are converted to dollars using a single exchange rate snapshot rather than a mix of dates, so the figures stay comparable.

How often it updates

The catalogue aggregates are recomputed every day. The country profile and the external readings are updated by hand: the date of the last check is shown next to every source in the list below.

Sources (23)
  1. National Assembly of Armenia, arlis.am. Land Code of Armenia, Art. 4 parts 2, 3, 3.1, English text as amended by HO-85-N of 18.04.2025. 2025, checked 2026-11-08. https://arlis.am/en/acts/221255
  2. National Assembly of Armenia, arlis.am. Civil Code of Armenia, Art. 282, 562-564, English text as amended by HO-394-N of 24.10.2024. 2024, checked 2026-11-08. https://arlis.am/en/acts/205622
  3. Migration and Citizenship Service of the Ministry of Internal Affairs of Armenia. Residency status and visa. 2026, checked 2026-11-08. https://migration.mia.gov.am/en/residency-status-and-visa
  4. Migration and Citizenship Service of the Ministry of Internal Affairs of Armenia. Notice on the digitisation of residency status services, 19.06.2026. 2026, checked 2026-11-08. https://migration.mia.gov.am/en/articles/news/notice-services-provided-within-the-framework-of-obtaining-residency-status-in-the-republic-of-armenia-will-be-digitized
  5. National Assembly of Armenia, arlis.am. Law amending the Law "On Foreigners", HO-11-N (adopted 20.01.2026, published 13.02.2026, in force from 01.11.2026), Art. 29.4, 29.6. 2026, checked 2026-11-08. https://www.arlis.am/hy/acts/220874
  6. National Assembly of Armenia, arlis.am. Tax Code of Armenia, Art. 25, 147, 149, 150, 156, 229, 233, 236, English text as amended by HO-499-N of 04.12.2024. 2024, checked 2026-11-08. https://arlis.am/en/acts/205620
  7. Vardanyan & Partners (armenian-lawyer.com). Non-resident tax: selling Armenian assets, individual vs corporate, 25.02.2026. 2026, checked 2026-11-08. https://armenian-lawyer.com/business-immigration/non-resident-tax-selling-armenian-assets-individual-vs-corporate/
  8. Cadastre Committee of Armenia. Real estate registration. 2026, checked 2026-11-08. https://cadastre.am/en/real-estate-registration
  9. National services gateway hartak.am. Individual taxes. 2026, checked 2026-11-08. https://english.hartak.am/guides/individual-taxes
  10. Vardanyan & Partners (armenian-lawyer.com). Armenia property buying: taxes and fees guide, 22.04.2025. 2025, checked 2026-11-08. https://armenian-lawyer.com/business-immigration/armenia-property-buying-taxes-fees-guide/
  11. Repat Armenia. Buying property in Armenia for non-residents: mortgages, documents and 2025 nuances, 15.07.2025 (data of 12.06.2025). 2025, checked 2026-11-08. https://www.repatarmenia.org/article/publications/buying-property-in-armenia-for-non-residents-mortgages-documents-and-2025-nuances
  12. PanArmenian. News on plans to protect buyers of new-build housing, 14.04.2026. 2026, checked 2026-11-08. https://www.pan.am/en/332396
  13. Vardanyan & Partners (armenian-lawyer.com). Armenia: property tax blocks registration (HO-407-N). 2026, checked 2026-11-08. https://armenian-lawyer.com/immigration/armenia-property-tax-blocks-registration/
  14. Central Bank of Armenia. Decision of 03.11.2026: the rate raised to 7.00 percent. 2026, checked 2026-11-08. https://www.cba.am/en/News/policy-rate-has-been-increased-by-0-25-percentage-point-to-7-00/664/
  15. Vardanyan & Partners (armenian-lawyer.com). Yerevan city center real estate prices in 2025: trends, investment data, 10.12.2025. 2025, checked 2026-11-08. https://armenian-lawyer.com/immigration/yerevan-city-center-real-estate-prices-in-2025-trends-investment-data/
  16. JAM News (Cadastre Committee data). Property prices in Armenia rise again, 10.09.2026. 2026, checked 2026-11-08. https://jam-news.net/property-prices-in-armenia-rise-again-new-wave-of-emigration-from-russia-and-other-factors/
  17. arka.am. Head of Central Bank admitted a decline in the investment attractiveness of real estate. 2026, checked 2026-11-08. https://arka.am/en/news/economy/head-of-central-bank-admitted-a-decline-in-the-investment-attractiveness-of-real-estate/
  18. arka.am. Armenian banks have created buffers of approximately 500 million due to real estate market risks. 2026, checked 2026-11-08. https://arka.am/en/news/economy/armenian-banks-have-created-buffers-of-approximately-500-million-due-to-real-estate-market-risks-cen/
  19. Asian Development Bank. Asian Development Outlook, April 2026, Armenia chapter. 2026, checked 2026-11-08. https://www.adb.org/sites/default/files/publication/1135881/arm-ado-april-2026.pdf
  20. Central Bank of Armenia. Residential Property Price Index, Q4 2025 report. 2026, checked 2026-11-08. https://www.cba.am/file_manager/Statistics_reports/RealSector/RPPI%20Report%202025Q4_eng.pdf
  21. Armenpress (Tourism Committee data). Tourists to Armenia in 2025. 2026, checked 2026-11-08. https://armenpress.am/en/article/1239079
  22. Armenpress (Armstat data). Economic activity index, January-September 2026. 2026, checked 2026-11-08. https://armenpress.am/en/article/1263804
  23. Central Bank of Armenia. Monetary Policy Report, Q3 2026. 2026, checked 2026-11-08. https://www.cba.am/file_manager/Monetary%20policy%20en/Reports/MPR_2026_Q3_Eng.pdf

The figures on this page describe the market and the rules as of the date they were checked. This is reference information, not an offer, investment advice or a promise of returns.

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