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Ameriabank joins TOON EXPO to be held first time in Moscow
Ameriabank, the leader in the mortgage market, is set to participate in TOON EXPO, an international exhibition of real estate and construction initiated by Big Projects, that will be held on June 27-29, for the first time in Moscow. YEREVAN, June 11. /ARKA/. Ameriabank , the leader in the mortgage market, is set to participate in TOON EXPO, an international exhibition ...
06/11/2025In April, more than 4.7 thousand real estate purchase and sale transactions were made in Armenia, with the largest number of foreigners being Russian citizens
In April 2025, 4,778 real estate purchase and sale transactions were made in the Armenian real estate market, compared to 4,528 transactions in April 2024 and 4,258 in March 2025. YEREVAN, May 11. /ARKA/. In April 2025, 4,778 real estate purchase and sale transactions ...
06/11/2025Service sector in Armenia grew by 9.9% in 4 months, reaching 1.2 trillion drams
... drams, growth by 3.3%), professional, scientific and technical activities - 4.8% (volume 56,355.3 million drams, growth by 5.1%), and healthcare and social security of the population - 4.7% (volume 55,510.9 million drams, growth by 7%). The share of real estate activities is 4% (volume 46,881.3 million drams, growth by 14.7%), administrative and auxiliary activities - 3.2% (volume 37,464.8 million drams, growth by 7.4%), and education - 2.7% (volume 31,680.6 million drams, growth by 4.8%). ($1 - ...
06/11/2025Head of the Central Bank of Armenia named two main risks to financial stability
... losses," Galstyan said. In the context of the second risk, the head of the Central Bank noted that the high growth in construction permits and housing construction volumes in recent years, against the backdrop of possible saturation of demand in the real estate market and a downward trend, could create a risk of excess supply. "At the same time, a large-scale increase in the volume of loans provided to the construction sector could signal a possible replacement of sources of financing for projects ...
06/11/2025A slowdown in activity is possible in the Armenian real estate market - Martin Galstyan
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. 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,...
06/11/2025Bank lending to the Armenian economy showed a significant increase of 25.5% in 2024 - Central Bank head
... economy, the processes of correction and mutual complementarity of the reduction or moderate growth of consumer lending in previous years, as well as the need to purchase durable goods for new apartments against the backdrop of high activity in the real estate market," he said. The head of the Central Bank noted that the growth in mortgage lending also remained at a high level, especially accelerating in the last quarter of the year, which is likely due to the completion of some programs in ...
06/11/2025Construction volume in Armenia increased by 15% in 4 months, reaching 116.6 billion drams
... 36.0 million drams, the Asian Development Bank - 1,350.5 million drams, the German Development Bank - 99.3 million drams, and other structures - 2,343.5 million drams. Most of the construction work was carried out in the line of activities related to real estate (volume 45,419.3 million drams, share in the total structure - 58.6%), provision of electricity, gas, steam and air conditioning (volume - 6,662.3 million drams, share - 8.6%) and transport (volume - 5,806.2 million drams, share - 7.5%). ($1 ...
06/10/2025EDB names main drivers of Armenia's economic growth in Q1
... contribution to Armenia's GDP growth in Q1 2025 was made by the services sector. This is stated in the weekly macro review of the Eurasian Development Bank. Armenia's GDP grew by 5.2% in Q1 2025. "Financial activities, information and communications, real estate transactions, as well as construction (increased by 27.5%, 16.2%, 7.2% and 14% y/y, respectively). Household consumer spending and investment were the main drivers on the demand side (growth by 15.3% and 25.3% y/y, respectively)," the ...
05/26/2025Armenia's GDP up 5.2% to 2.1 trillion drams in Q1 - official statistics
... Other areas that showed growth compared to the first quarter of last year include electricity, gas, steam and air supplies - 9.7%, agriculture, forestry and fishing - 8.1%, professional, scientific and technical activities - 8.1%, education - 7.6%, real estate related activities - 7, 2%, public administration and protection, compulsory social security - 6.6%, health care and social services - 6.2%, wholesale and retail trade, repair of motor vehicles and motorcycles - 5.6%, culture, entertainment ...
05/21/2025Prosecutor General's Office demands confiscation of 28 units of real estate and about 2 billion drams from former head of Zvartnots customs office
... origin. According to the press service of the Prosecutor General's Office, the prosecutors demand that the court confiscate from the former head of the Zvartnots customs office Armen Stepanyan and his affiliated persons in favor of Armenia: 28 units of real estate. 3 units of movable property,market value of 1 vehicle, participation in 1 legal entity, outstanding part of bonds purchased in the amount of 234.1 million drams, 1.3 billion drams as the remainder of illegal income, 709.6 million drams, not ...
05/14/2025To Europe without a visa - is it ever possible?
....” With a “Golden Visa” from a European country, you can enjoy residency without the requirement to live there full-time or pass language exams. For instance, Greece offers a “Golden Visa” for five years, which can be renewed, by investing in real estate valued at €250,000. While several countries provide “Golden Visa” programs, Greece remains unique with its focus on real estate investments. For many investors, the chance to own property in the Mediterranean is a significant draw. For ...
05/13/2025Armenia's service sector grew by 11.5% in Q1, reaching AMD 865.3 billion
... share of healthcare and social security of the population was 4.7% (40,675.4 million drams, growth by 7.9%), professional, scientific and technical activities contributed 4.6% (40,275.8 million drams, growth by 7.1%). The share of activities related to real estate was 4.1% (35,246.1 million drams, growth by 17.4%), the administrative and auxiliary activities provided 3.1% (27,185.3 million drams, growth by 9.8%), and the education sector’s contribution was 2.7% (23,329.3 million drams, growth by 5....
05/12/2025Construction volume in Armenia increased by 13.6% in Q1 to AMD 77.6 bln
... 36.0 million drams, the Asian Development Bank - 1,350.5 million drams, the German Development Bank - 99.3 million drams, and other structures - 2,343.5 million drams. Most of the construction work was carried out in the line of activities related to real estate (volume 45,419.3 million drams, share in the total structure - 58.6%), provision of electricity, gas, steam and air conditioning (volume - 6,662.3 million drams, share - 8.6%) and transport (volume - 5,806.2 million drams, share - 7.5%). ($1 ...
05/12/2025Robert Kocharyan and Family Face Asset Seizure: 22 Properties, Cash, Bonds Targeted by Authorities
... the lawsuit of the Prosecutor General’s Office for the confiscation of property of illegal origin from Kocharyan and persons affiliated with him. According to her, the prosecutor's office demands the seizure in favor of the Republic of Armenia of 22 real estate properties, the rights to purchase 2 properties, more than $3 million, 8.3 billion drams, 260 million rubles and about 590 thousand euros, bonds worth 985 million drams, bank deposits worth more than $1.4 million, participation in 15 legal ...
05/12/2025Armenia Recovers $536 Million in Illegally Acquired Assets Since 2018 – Prosecutor General
... communities, 46% of which in 2023-2024," Vardapetyan said. She added that in criminal cases completed in 2018-2024, a ban was imposed on property and funds worth almost 42.32 billion 317 million 283 thousand drams (about $108.12 million). About 300 real estate objects on which the ban was imposed have not been assessed. As for the criminal cases investigated in 2024 by the preliminary investigation bodies, a ban was imposed on property and funds worth 2 billion 658 million 771 thousand drams. Vardapetyan ...
05/08/2025Armenia's Prosecutor General's Office demands confiscation of 4 real estate units and 330 million drams from former director of jewelry factory
... by the press service of the Prosecutor General's Office, the agency demands that the court confiscate from the former director of Yerevan Jewelry Factory-1 Gnomon OJSC Emil Grigoryan and his wife's legal successor Seda Hakobyan in favor of Armenia 4 real estate units 1 vehicle participation in 2 legal entities about 330 million drams as the remainder of illegal income and funds not justified by legal income, transferred to bona fide third parties. ($1 - 389.41 drams) -0-
05/05/2025Former Justice Minister Calls Armenia's Constitutional Court Decision on Law on Confiscation of Illegal Property Illegal
... million drams (approximately $100,000). In 2023, a mechanism was implemented in Armenia to reclaim unlawfully obtained properties through judicial processes. Reports indicate that over $30 million has been added to the state budget in the form of seized real estate and cash during this timeframe. In February 2025, the Anti-Corruption Court of Armenia made a landmark ruling, ordering the transfer of seven properties in Yerevan and Tsaghkadzor, with a combined cadastral value of around $4.35 million to ...
04/29/2025VTB (Armenia) Launches Real Estate Secured Consumer Loans
VTB (Armenia) announced the launch of consumer loans backed by real estate. YEREVAN, April 22. /ARKA/. VTB (Armenia) announced the launch of consumer loans backed by real estate. Retail customers can now apply for a loan of up to AMD 30 million, using residential properties, apartments, or commercial real estate ...
04/22/2025Armenian Parliament Rejects Opposition Initiative to Suspend Tax Reforms
... Code submitted by the opposition Hayastan (Armenia) faction. The ruling Civil Contract faction had announced before the vote that it would oppose the bill. Hayastan faction MP Tadevos Avetisyan recalled that according to the new taxation system for real estate of individuals, a gradual increase in property tax by approximately 5-6 times is planned to take effect between 2021 and 2026. “The Hayastan faction proposes to suspend the last stage of increasing the tax burden on citizens, with the exception ...
04/18/2025Real estate transactions in Armenia exceeded 19.5 thousand in February, showing a monthly decline
... Armavir - 1,730 (8.8%), in Ararat - 1,618 (8.3%), in Gegharkunik - 1,376 (7%), in Aragatsotn - 1,320 (6.8%), in Lori - 1,263 (6.5%), in Tavush - 1,144 (5.7%), in Shirak - 1,046 (5.4%), and in Syunik - 617 (3.2%). In the overall structure of the market, real estate alienation transactions prevail – 7,129 (36.5% of the total), including 4,586 purchase and sale transactions, 2,131 donations, and 50 exchanges. Additionally, 3,721 primary registration transactions were completed (19% of the total number), 3,316 inheritance transactions (17%), 2,309 pledge transactions (11.7%), 1,763 re-registration transactions (9%), 1,105 lease ...
04/09/2025Volume of construction in Armenia in January-February increased by 12.2%, to 44.7 billion drams
... Reconstruction and development – 382.8 million drams, the Asian Development Bank – 997.5 million drams, the German Development Bank – 31.1 million drams, and other organizations – 105.5 million drams. The majority of the construction work was related to real estate activities (volume: 25,176.8 million drams, share in total: 56.4%), the provision of electricity, gas, steam, and air conditioning (volume: 5,407.9 million drams, share: 12.1%), and transportation (volume: 2,483.2 million drams, share: 5.6%)....
04/08/2025Forbes includes Ruben Vardanyan, Eduardo Ernekian, Kim Kardashian in the list of the richest people in the world
... Ernekian. Another of his companies, Compañía General de Combustibles, is an oil and gas producer in Argentina that operates hydrocarbon fields and pipelines. Samvel Karapetyan - 1,141st place, $3.2 billion fortune He owns Tashir Holding, a commercial real estate development company. Karapetyan was born in Armenia, but came to Russia in the 1990s and settled in Kaluga. A longtime subcontractor of Gazprom, Tashir GC also has state contracts for lighting Moscow's central streets. Karapetyan's children ...
04/02/2025Winner of “My Ameria, My Home” draw highlights benefits of Ameriabank
... and money management,” Hakobyan said. She promised interesting campaigns within this project but did not disclose further details. MyHome “The apartment won by the raffle participant was previously included in the MyHome ecosystem, which offers real estate from both the primary and secondary markets. Real estate can be financed with an online mortgage. The process for approving a primary-market mortgage loan takes just 5 minutes. MyHome allows you to review the best market offers, calculate ...
03/28/2025No reduction in property tax: Armenian government rejects the project
At a meeting on Thursday, the Armenian government rejected a bill to cancel amendments to the Tax Code, which would increase the real estate tax by 25% starting in 2026. YEREVAN, March 13. /ARКА/. At a meeting on Thursday, the Armenian government rejected a bill to cancel amendments to the Tax Code, which would increase the real estate tax by 25% starting in 2026. The corresponding ...
03/13/2025Moscow to host first exhibition of elite new buildings in Armenia
For the first time in Russia, an exhibition and sale of elite real estate from Armenia will take place on April 12-13 at the Ararat Park Hyatt Moscow hotel. YEREVAN, March 11. /ARKA/. For the first time in Russia, an exhibition and sale of elite real estate from Armenia will take place on April 12-13 at the Ararat ...
03/11/2025Service sector in Armenia grows by 12.6% in the first month of 2025, exceeding 280 billion drams
... scientific, and technical activities is 4.4% (with a volume of 12,389.2 million drams, an increase of 19.8%), and healthcare and social security account for 4.4% as well (with a volume of 12,386.3 million drams, an increase of 4.6%). The share of the real estate sector is 4% (with a volume of 11,086.1 million drams, an increase of 22.5%), the share of administrative and auxiliary activities is 2.8% (with a volume of 7,786.5 million drams, an increase of 6%), and the share of education is 2.5% (with ...
03/10/2025Construction volume in Armenia increased by 11.6% in January to 19.2 billion drams
... loans, the World Bank provided 77.2 million drams, the Asian Development Bank 309.5 million drams, the German Development Bank 31.1 million drams, and other institutions 70.4 million drams. The largest portion of construction work was carried out in real estate activities (volume: 11,080.7 million drams, share in total: 57.5%), followed by the provision of electricity, gas, steam, and air conditioning (volume: 2,886.1 million drams, share: 15%), and the manufacturing industry (volume: 702.4 million ...
03/10/2025EDB expects high growth rates in Armenia’s economy to continue in 2025
... Development Bank (EDB) expects Armenia's economic growth to remain high, maintaining its forecast of a 5.5% GDP growth. "Armenia's GDP grew by 5.9% in 2024. The largest contributions to GDP growth came from the services sector — including trade, real estate transactions, and financial activities — as well as construction (which increased by 16.8%, 19.0%, 18.1%, and 13.5%, respectively). Household consumer spending and investment were the main demand-side drivers (growth of 6.6% and 11.1%, respectively),...
02/24/2025Armenia's GDP grew by 5.9% in 2024, amounting to about 10.1 trillion drams - official statistics
... GDP at current prices at the end of 2024 amounted to 10,127,165.9 million drams. GDP per capita at market prices was 3,338,443 drams, 8,501 dollars, and 7,857 euros. According to the report, the largest growth in 2024 compared to 2023 was observed in real estate activities (19%), financial and insurance activities (18.1%), and professional, scientific, and technical activities (17.2%). The highest growth rates were recorded in the following industries: wholesale and retail trade, car and motorcycle ...
02/20/2025Slowdown of economic activity in Armenia is affecting labor market – EFSD
... real wages amid slowing economic activity also decreased to 6.7% compared to 7.4% in the first half of the year. “The highest wage growth was observed in the financial and insurance sectors (19.7% y/y), wholesale and retail trade (10.9% y/y), and real estate operations (12.1% y/y),” the survey said. Economic activity in Armenia grew by 8% in 2024. Armenia's economic growth is envisioned at 5.1% in the budget for 2025. According to Armstat, the average monthly nominal salary in Armenia in 2024 ...
02/13/2025About 5.2 thousand real estate purchase and sale transactions were made in Armenia, with the largest number of foreigners being Russian citizens
In December 2024, 5,909 purchase and sale transactions were concluded in Armenia's real estate market, compared to 4,871 transactions in December 2023 and 5,185 in November 2024, according to data from the National Statistical Committee of the country. YEREVAN, February 7. /ARKA/. In December 2024, 5,909 purchase and sale transactions ...
02/07/2025Over 23,000 real estate transactions in Armenia in December, monthly decline
... Ararat with 1,957 (8.5%), Gegharkunik with 1,888 (8.2%), Armavir with 1,870 (8.1%), Lori with 1,491 (6.5%), Aragatsotn with 1,445 (6.1%), Tavush with 1,173 (5.1%), Syunik with 1,060 (4.6%), and Shirak with 913 (4%). The majority of transactions were real estate alienations, totaling 8,406 (36.4% of the total), including 5,909 purchases and sales, 2,113 donations, and 42 exchanges. Additionally, 4,222 inheritance transactions (18.3%), 3,631 pledge transactions (15.7%), 3,536 primary registrations (15.3%), 1,971 re-registrations (8.5%), 1,040 leases (4.5%), and 297 legalization transactions (1.3%) were ...
02/07/2025Service sector in Armenia grew by 10.6% last year, to 3.5 trillion drams
... 11.8%). The share of professional, scientific, and technical activities is 5% (volume: 171,912.0 million drams, growth of 12%), healthcare and social security of the population constitutes 4.5% (volume: 157,215.7 million drams, growth of 7.2%). The real estate sector represented 4% of the total services market (volume: 136,589.8 million drams, growth of 12.6%), administrative and auxiliary activities accounted for 3.4% (volume: 117,671.3 million drams, growth of 6.4%), and the education sector made ...
02/07/2025Armenia’s construction industry reports 14.5% growth in 2024
... Development Bank were used to finance construction in the amount of 25 billion drams and loans from the German Development Bank were used to finance construction in the amount of 3.8 billion drams. The majority of construction work was carried out for real estate construction (319 billion drams). About 115 billion drams were used to finance the construction of transport facilities and more than 87 billion drams were used to finance the construction of electricity, gas, steam and air conditioning facilities....
02/06/2025Armenian real estate market records slower price growth in December 2024 - Ministry of Finance
Prices in Armenia's real estate market continued to rise in December 2024, although the growth rate slowed compared to November. This is stated in the report "Review of Macroeconomic Developments: December 2024" by the Ministry of Finance of the Republic of Armenia....
02/04/2025Declaration of income in Armenia: a complete guide to all issues - part 2
... include this income in your tax return? Yes, if you sold real estate to another individual in 2024, you are required to include information about the income from the sale of this property, which is considered non-taxable income, in your return. 16. Should donations be included in the return? If you received real estate, movable property, or cash as a gift from another individual in 2024, this income must be declared, but it is NOT taxable. It should be noted that non-taxable income received as a one-time gift may not need to be included in the declaration ...
01/22/2025Income declaration in Armenia: A complete guide to everything you need to know
... 2024, you are not required to file a declaration in 2025 based on this. However, if you are a declarant for other reasons under the law, you must include information about any income received from the loan, which is non-taxable. 19. If you rented out real estate in 2024, is this a basis for filing a declaration? Yes, if you rented out your real estate in 2024, you are required to file an annual income tax return and pay 10% income tax to the state budget. (For minors, this will be handled by a parent,...
01/21/2025More than 21 thousand deals made in Armenian real estate market in November
A total of 21,030 real estate transactions were concluded in Armenia in November 2024 against 20,552 transactions in November 2023 and against 22,120 transactions in September 2024, the National Statistical Committee said. YEREVAN, 15 January. /ARKA/. A total of 21,...
01/15/2025Armenia's service sector grows 6.3%, exceeds 3 trillion drams
... drams, an increase of 12.8%. The professional, scientific, and technical activities sector (share - 4.9%) grew by 12.6% to 148,364.4 million drams, while healthcare and social security (share - 4.7%) increased by 7.7% to 142,746.6 million drams. The real estate sector (share - 4.1%) grew by 12% to 123,433.7 million drams, administrative and auxiliary activities (share - 3.5%) rose by 6.4% to 105,631.8 million drams, and education (share - 2.5%) grew by 4.9% to 75,042.3 million drams. ($1 = 397.78 ...
01/15/2025Construction sector in Armenia up 14.9% in 11 months to AMD 567bn
... construction by he German Development Bank, over 5 billion drams worth construction was financed by European Investment Bank and over 5 billion drams construction by other financial institutions. Most of the funds, - about 273 billion drams- was used to build real estate. ($1 - AMD 397.78) -0-.
01/14/2025Slow-acting tax: Armenians expect sharp increase in property tax
... might be forced to leave his own home in the center of the capital if he is unable to pay the taxes. "We need to consider the social issues arising from this decision. I have strong suspicions that this is being done so that new oligarchs can buy real estate in the center at a very low price and then profit from it. In no other country would you see such a drastic increase in property taxes," the expert emphasized.
01/13/2025Armenian Prosecutor General's Office recovers $30 million worth of illegally alienated property
Armenian Prosecutor General Anna Vardapetyan said today that within the framework of new powers delegated to her agency, law enforcement bodies managed to recover 8 real estate properties during 2023-2024 worth $30 million, which were alienated illegally. YEREVAN, 27 December. /ARKA/. Armenian Prosecutor General Anna Vardapetyan said today that within the framework of new powers delegated to her agency, law ...
12/27/2024Accor Group Partners with Technotun to Bring Pullman to Armenia for the First Time
Accor, a world-leading hospitality group, has signed an agreement with Technotun, a major real estate operator in Armenia, to bring the pioneering Pullman brand to the nation’s capital city. YEREVAN, December 20. /ARKA/. Accor, a world-leading hospitality group, has signed an agreement with Technotun, a major real estate operator in Armenia,...
12/20/2024Unibank named best bank for high-net-worth individuals in the CIS
... options. A personal manager is always in contact with the client and is ready to provide support at all stages of service. The resolution of financial matters is complemented by lifestyle management services, including hotel bookings, assistance with real estate transactions, as well as organizing medical care, education, and leisure abroad. Even if a client needs to book a table at a famous restaurant or purchase tickets for the opera, the Unibank Privé concierge service will take care of these ...
12/19/2024Armenian prosecutor general to confiscate 1.7 billion drams and property from ex-accounts chamber head
... /ARKA/. The Prosecutor General's Office of Armenia intends to confiscate nearly 1 billion 723 million drams from Levon Yolyan, the former head of the Accounts Chamber, the agency reports. The confiscated assets include six items of property, such as real estate in Yerevan, Tsaghkadzor, and the villages of Artavaz and Artashat, as well as one vehicle. The total value of these assets is estimated at 628 million drams. Additionally, the Prosecutor General's Office plans to seize real estate in Yerevan ...
12/18/2024Head of developers' association expects no drop in Armenia's real estate prices
... does not decrease. Given that production costs remain high, the final price for the consumer will also not change," Grigoryan said. The "Macroeconomic Development Review: October 2024" by the Ministry of Finance of Armenia states that real estate prices in Armenia continued to rise in September, but the growth slowed compared to August. The average market price growth for apartments in multi-apartment buildings in Yerevan ranged from 0.4% to 1.2% compared to August, depending on the ...
12/10/2024Over 5.3K real estate transactions made in Armenia in October, most by Russians
In October 2024, 5,333 purchase and sale transactions were made in the Armenian real estate market, compared to 4,580 transactions in October 2023 and 4,643 in September 2024, according to data from the National Statistical Committee of the country. YEREVAN, December 9. /ARKA/. In October 2024, 5,333 purchase and sale transactions ...
12/09/2024October sees decline in Armenia's real estate market with 22.1K transactions
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. YEREVAN, December 9. /ARKA/. In October ...
12/09/2024Armenia's service sector grows 5.8% to 2.7 trillion drams
... increase of 12%). The professional, scientific, and technical activities sector (share - 4.9%) grew by 12.9% to 133,489.0 million drams, while the healthcare and social security sector (share - 4.7%) saw an increase of 8.1% to 129,071.3 million drams. The real estate sector (share - 4.1%) grew by 12.6% to 111,302.1 million drams, administrative and support activities (share - 3.5%) increased by 6.3% to 94,910.6 million drams, and the education sector (share - 2.4%) grew by 4.4% to 66,510.3 million drams....
12/09/2024Construction volume in Armenia up 15.5% to 484.5 billion drams in 10 months
... million drams, the German Development Bank 2,659.3 million drams, the European Bank for Reconstruction and Development 4,799.6 million drams, and other institutions 3,018.1 million drams. Most of the construction work was carried out in sectors related to real estate (volume: 237,816.4 million drams, share: 49.1%), transport (volume: 76,617.2 million drams, share: 15.8%), and the provision of electricity, gas, steam, and air conditioning (volume: 48,570.8 million drams, share: 10%). ($1 = 401.31 drams)
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