In February 2024, Armenia witnessed a significant increase in the number of real estate transactions compared to previous months and the same period last year.
According to data from the Statistical Committee of the Republic, 21,159 transactions were recorded in February, exceeding the figures for January 2024 (16,394 transactions) and February 2023 (16,689 transactions).
The capital city, Yerevan, emerged as the leader in the number of transactions, accounting for 30% of the total. The Kotayk and Ararat regions ranked second and third in this regard.
The lowest number of transactions was recorded in the Vayots Dzor region, accounting for only 2.9%. It is important to note that the total number of transactions in other regions also varies significantly, covering various districts of the country.
More than a third of all transactions involve property alienation, including sales, gifts, and exchanges. A significant increase in rental transactions is also noted.
During the first two months of this year, 588 purchase and sale transactions were made by foreign nationals.
Against the backdrop of a sharp increase in real estate market activity, experts predict that 2024 could set a record for the number of transactions.
Furthermore, there is a sustained rise in property prices. Interestingly, the percentage increase in prices is higher in the regions than in Yerevan.
