October sees decline in Armenia's real estate market with 22.1K transactions

YEREVAN, December 9. /ARKA/. In October 2024, 22,120 transactions were made in the real estate market in Armenia, compared to 19,815 transactions in October 2023 and 19,494 transactions in September of the same year, according to data from the National Statistical Committee of the Republic.

The largest number of transactions in the reporting month were made in Yerevan – 6,454 (29.2% of the total), while the smallest number was in Vayots Dzor – 341 (1.5%). In Kotayk, 3,722 transactions (16.8%) were made, 1,833 (8.3%) in Armavir, 1,791 (8.1%) in Ararat, 1,748 (7.9%) in Aragatsotn, 1,388 (6.3%) in Lori, 1,292 (5.8%) in Gegharkunik, 1,213 (5.5%) in Shirak, 1,207 (5.5%) in Tavush, and 1,131 (5.1%) in Syunik.

In the overall structure, real estate alienation transactions prevail – 8,007 (36.2% of the total), including 5,333 purchase and sale transactions, 2,375 donation transactions, and 45 exchange transactions. Additionally, 4,374 inheritance transactions were completed (19.8% of the total), 3,711 primary registration transactions (16.8%), 2,888 pledge transactions (13.1%), 1,933 re-registration transactions (8.7%), 940 lease transactions (4.2%), and 267 legalization transactions (1.2%).

In October, the largest number of transactions in the real estate market were with land – 8,863 (40.1%). In the reporting month, 5,394 transactions were also made with apartments in multi-apartment buildings (24.4%), 4,759 transactions with residential houses (21.4%), 1,584 transactions with public buildings (7.2%), 1,099 transactions with garages (5%), and 421 transactions with industrial buildings (1.9%).