Real estate in Armenia, market trends by the end of 2021. The year began after the end of the war, the spread of the coronavirus and the rise in food prices. But much to the surprise of many experts, from the very beginning of January, there was a rush in the real estate industry. This was not due to the slight decline in prices that has been observed since the beginning of spring last year and during the fighting. Since the decline for the most part was at the level of 10 percent. The beginning of spring gave new dynamics for sales and purchases, as well as for renting apartments and houses. This was due to the increase in the tourist flow, the improvement of the moral character of the country and the opening of air connections with many countries.
The peak was in the middle of summer, when it was very difficult to rent something, many options were already booked. Some sales announcements lasted no more than a day! Apartments in new buildings in the city center and Arabkir region are in great demand. Sales in the most price range from $ 120,000 to $ 200,000, there was also demand for good quality properties in the price range up to $ 500,000. This year, offers from 150 to 300 sq.m. were also sold out, the prices for such lots range from $ 500,000 per apartment. Apartments were bought for investment purposes as a lease, which has become very profitable and popular in recent years. For some offers, it is possible to receive up to 10 percent per year of the cost.
The dynamics show that the supply for old panel apartments, even in the center of Yerevan, does not show the demand that is needed. That is, if there is a constant rise in prices in new buildings due to demand, this is not at all the case here. A large number of townhouses and private houses have been sold. If for townhouses the situation is more understandable, due to their affordability, then for the second it caused some surprise. In principle, in comparison with previous years, the cost of land plots has increased, as well as prices for building materials. Buying a land plot, building a house from scratch, spending a lot of time, it’s not convenient for everyone when you can use ready-made offers. This is the reason for the increase in demand for such real estate. There has also been a shift upward in commercial real estate. Rent or purchase prices have gone up. Thus, it can be stated that the end of the year will also be very active, despite the high prevalence of the virus. We tried to briefly present the situation on the real estate market in Armenia this year.