Yerevan's Real Estate Market Shows 18% Price Growth

Yerevan's residential real estate market experienced 18% price appreciation in 2025, driven by construction activity increases, foreign investment inflows, and strong domestic demand.

Real estate analytics firm Yeremyan Projects reports that average apartment prices reached $1,420 per square meter in premium districts, with transaction volumes increasing 42% year-over-year. New construction deliveries totaled 1.8 million square meters.

Foreign buyers, primarily from Russia, Iran, and Lebanon, comprised 34% of residential purchases, seeking stable investment opportunities and residency options. Government programs facilitating property ownership for diaspora members enhanced market liquidity.

Commercial real estate investments exceeded $240 million, with new office complexes, retail centers, and hospitality properties entering development pipelines. Office vacancy rates in Yerevan's business district decreased to 7%.

Mortgage lending surged 67%, with banks offering competitive rates averaging 9.5% annually. First-time homebuyer programs provided government subsidies, supporting accessibility for young families.

Construction sector employment reached 42,000 workers, representing a 28% increase from 2024. Industry projections suggest sustained growth through 2027 as infrastructure development and urban renewal projects advance.