YEREVAN, August 2 /ARKA/. A Grant Thornton’s recent analysis of the real estate market in Armenia, released in July 2019, is mainly based on the review of historical data.
The report, available in Armenian and English languages, is an independent, objective, comprehensive and trusted study intended to help both individuals searching for data and real estate market time series analysis, as well as persons and organizations involved in the real estate market who need not only pure data or statistics, but also analysis of the transactions in the market and the types of real estate.
This analysis provides an insight on the structure of the real estate market, transactions and types of property, enables thorough understanding of the market developments and comparison of the latest trends with those from the previous years.
According to the analysis, Armenia’s real estate market, after the decline and moderate growth in the recent years, showed substantial growth in 2018 mainly due to positive political and economic expectations of the market’s potential buyers, reaching its ever high maximum of more than 160 thousand transactions. This is a 13% growth as compared to the previous year.
Also buy and sell transactions performed by foreign citizens in 2018 made 10.9% of the total. Sale transactions are almost twice the number of purchase transactions (530 purchase transactions vs 1,024 sale transactions); 63.2% of purchases and only 37.3% of sales were performed in Yerevan.Circa 70% of transactions involve purchase and sale of apartments and residential houses. It is noteworthy that, in part of public facilities, purchases in 2018 exceeded sales by 28%, or 17 transactions, in contrast to other types of property (except garage).