A slowdown in activity is possible in the Armenian real estate market - Martin Galstyan

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Economy

11.06.2025, 14:22

The Central Bank of Armenia thinks that a slowdown in activity in the republic's real estate market is possible, said the head of the regulator, Martin Galstyan.

A slowdown in activity is possible in the Armenian real estate market - Martin Galstyan

YEREVAN, June 11. /ARKA/. The Central Bank of Armenia thinks that a slowdown in activity in the republic's real estate market is possible, said the head of the regulator, Martin Galstyan.

"The real estate market has seen a slowdown in price growth rates. In the context of the gradual completion of the income tax refund program and possible saturation of demand for real estate, we believe that a further slowdown in activity in this market is likely," he said, presenting the financial stability report for 2024.

Galstyan noted that the high growth in construction permits and residential construction in recent years, combined with possible saturation of demand and the expected decline in activity, could lead to the formation of risks of excess supply in the real estate market.

"At the same time, a significant increase in the volume of loans provided to the construction sector may signal a possible replacement of funding sources, accumulation of debt burden and associated credit risk," he said.

According to Armstat, 20,573 transactions were made in the real estate market in Armenia in April 2025, compared to 20,988 transactions in April 2024 and 19,345 transactions in March 2025. By transaction type, alienation transactions prevailed (7,168 transactions or 34.8% of the total number of transactions), and by property type, transactions with land (8,121 transactions or 39.5%). -0-

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