Armenia has seen a significant surge in real estate market activity. Preliminary data indicates that nearly 248,000 real estate transactions were recorded in 2024, marking a 13% increase compared to the previous year. This was announced by the Chairman of the State Committee for Real Estate Cadastre, Suren Tovmasyan, during a press conference.
More than a quarter of all transactions—approximately 69,000—were conducted in Yerevan. Positive growth trends were observed in almost all regions of the country, with the exception of the Armavir Province, where the increase was a modest 0.3%. Final data, including information on property price trends, is expected to be published by the end of January.
Experts suggest that the notable rise in registered transactions is not only driven by a construction boom but also by stricter oversight of the rental market. Since last year, Armenia’s State Revenue Committee has intensified its efforts to monitor tax compliance on rental income, resulting in a significant increase in officially registered rental agreements.
