Buying an Apartment in Yerevan Is Becoming ‘Trendy’ as Foreign Buyers Flock to Armenia’s Real Estate Market, Pashinyan Says

Foreign buyers are becoming more active in Armenia’s property market, particularly in Yerevan, as the government moves to simplify real estate transactions and capitalize on growing interest from abroad.

Prime Minister Nikol Pashinyan told a Cabinet meeting Thursday that purchasing an apartment in Yerevan is becoming increasingly attractive to foreign nationals and Armenians living overseas.

“Today, buying an apartment in Yerevan is becoming trendy, and I am pleased to note that many foreign citizens and representatives of the Armenian diaspora are purchasing apartments in Armenia,” Pashinyan said.

Official figures point to an increase in foreign participation in the market.

Foreign citizens purchased 2,014 properties in Armenia in 2025, according to Cadastre Committee data. Apartments accounted for more than half of those purchases.

Foreign nationals were involved in 4,413 property purchases and sales during the year, up 13.4% from 2024. Their share of all real estate transactions also increased, from 6.7% to 7.4%.

Activity continued to climb at the start of this year. Foreign citizens were involved in 1,073 real estate purchases and sales in the first quarter of 2026, a 32.3% increase from the same period a year earlier.

They purchased 525 properties during the three-month period, with apartments accounting for about 60% of the total.

Available monthly data also show that Yerevan attracts a large share of foreign purchases. In October 2025, for example, foreign citizens bought 221 properties across Armenia, 146 of them in the capital. Of the properties purchased nationwide that month, 134 were apartments.

Russian citizens have been among the most active foreign participants in Armenia’s real estate market, alongside buyers from the United States, Iran and European countries.

The government’s references to diaspora demand, however, cannot be measured separately through existing Cadastre statistics. Official data classify foreign buyers by citizenship and do not indicate whether a U.S., Russian or other foreign citizen purchasing property is of Armenian descent.

Pashinyan said the government now wants to make property transactions easier without weakening confidence in the system.

“We need to be able to facilitate transactions related to the real estate market, while at the same time not reducing the level of trustworthiness. On the contrary, we need to increase it,” he said.

Suren Tovmasyan, head of Armenia’s Cadastre Committee, said a package of initiatives is being prepared to further develop the sector.

The planned changes will focus on real estate management, Armenia’s spatial data infrastructure and new tools for analyzing the property market, he said.

“In the near future, we will present numerous initiatives concerning the real estate market that will help advance the real estate management agenda, develop Armenia’s real estate market, develop the spatial data infrastructure, and introduce new tools for analyzing the real estate market,” Tovmasyan said.

Armenia is also preparing to host an international gathering of cadastral and related authorities in March 2027. Tovmasyan said representatives from about 40 countries are expected to attend.

The event, he said, would give Armenia an opportunity to expand international cooperation in the sector and raise the country’s profile among foreign partners.

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