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Armenia Real Estate Market Analysis- Industry Size, Share, Research Report, Insights, Covid-19 Impact, Statistics, Trends, Growth and Forecast 2022-2030

Published Date: July, 2022
No of Pages: 165
Delivery Format: PDF + Excel

$2,950.00

Description of the Report

It is estimated that the Armenia property market was estimated at $880.4 million as of 2018 and is predicted to rise to $1,249.3 million by 2026, expanding by 4.3 percent. Real estate is an asset that is comprised of the land as well as any physical structures that are on it, like various kinds of systems.

The increased focus on diversification of the Armenian economy and the increase in the volume of transactions involving property drive the Armenia real estate market’s growth. The market is growing in the book of transactions related to the sale and purchase of residential properties, including land, public and industrial facilities, and garages. Additionally, there were approximately 47,000 transactions for government recognition of rights to own immovable properties in Armenia. One of the primary causes of the growth in the market has been the law paying back the tax on income to those who pay back mortgage loans. A lot of Armenians are repatriating their money and purchasing a property. The increase in the demand for property has led to the rise in the price of the property.

Furthermore, the reasonable interest rates on mortgage loans are a significant driver of the growth of this market. In Armenia, mortgage loan interest rates are affordable and comparable to the other countries within the region. It is also noted that loans for mortgages in the Armenian dollars are about 12% per year for 10 years. However, mortgage loans are in dollars with lower interest rates. However, the dependency on the Russian economy and extremely high unemployment and poverty are likely to hinder Armenia’s natural property market expansion.

Additionally, the increasing interest of the government in fostering the development of the Armenia real property market is likely to create an opportunity for lucrative growth for market players. For instance, in November of 2019, the Armenian parliament ratified amendments to the law that define the procedure for the appraisal of real estate cadastral close to the market value. Thus, instead of the present property and land tax, it will introduce an ordinary real estate tax that includes building and land, with the land being defined as its primary object. This allows for the change from cadastral value to market value. Therefore, cadastral rates will be created and will be similar to market values, thus increasing the value of cadastral properties real estate in Armenia. The amendments are scheduled to take effect in 2021.

Additionally, the government consulted the reforms to the property tax system within the country to devise progressive taxation methods for real estate. This guarantees fair and fair distribution of the tax burden. The increased attention to the real property sector by authorities will likely boost the market’s growth shortly.

The Armenia real property market is divided into two types: business type and property type. According to the property type, the market is classified into commercial, residential, industrial, land, and residential. Industrial is predicted to be the dominant market during the study. There’s an increase in the demand for industrial space in Armenia. This is due in part in part to new manufacturing facilities or factories in Armenia. For instance, in April of 2019, a Chinese elevator manufacturer signed a Memorandum in cooperation with Armenia to set up a factory within Kotayk Province, with an estimated annual output of 2,000 to 3,000 elevators.

Additionally, a brand-new diamond cutting facility was opened within the town of Abovyan in December of this year. Additionally, a new cheese manufacturing facility in Noragavit was launched in March of this year. Thus, the increase in the number of workshops or factories is expected to boost the need for industrial space in the country.

The market is split into rental and sales according to the type of business and type. Renting is expected to hold most of Armenia’s actual property market during the study period. The industrial and commercial segments are expected to expand leasing transactions in Armenia. The commercial is one of the most prominent players in the leasing segment. There are numerous U.S. brands in Armenia. They include Calvin Klein, Tommy Hilfiger, Polo, and Golds Gym. Additionally, the new government, elected to power in May of 2018, announced that they would eliminate all customs and administrative barriers to entry for new retailers. This will enable new retailers to enter the market, boosting the expansion of the leasing real property market.

Competitor Analysis

The major market players profiled in the report on the Armenia real estate industry comprise AdaTech LLC, Akcern Real Estate Corporation, BARS Real Estate Company, CHARAGAYT Construction Company, Comfy LLC, Elite Group, MLL Industries LLC, Renshin LLC, Roxwell LLC as well as Step Investment Group.

Principal Benefits for Stakeholders:

  • The report provides a comprehensive analysis of the present and developing Armenia real estate market’s trends and their dynamics. The report also offers Armenia’s real estate market size for 2018 until 2026.
  • An in-depth Armenia real property market analysis is carried out by estimating the essential segments from 2018 to 2026.
  • Thorough research of markets is done by following the critical positioning of products and monitoring significant competitors within the market structure.
  • A detailed analysis of four central regions is presented to help determine the most promising opportunities.
  • The document contains the Armenia real property market forecast analysis for 2019 to 2026.
  • Market players who are critical to the market are highlighted in this study, and their strategies are thoroughly examined to help identify the competitive landscape for Armenia’s Armenia real estate market.

Armenia Real Estate Market Report Scope and Segmentation

ATTRIBUTESDETAILS
ESTIMATED YEAR2022
BASE YEAR2021
FORECAST YEAR2030
HISTORICAL YEAR2017-2021
UNITValue (USD Million/Billion)
BY REGIONNorth America, Europe, Asia Pacific, Latin America, Middle East and Africa

Armenia Real Estate Market Segments:

In Property

  • Residential
  • Commercial
  • Industrial
  • Land

For Business

  • Sales
  • Rental

Key Player

  • Advantech LLC
  • Akcern
  • Barstool Sports
  • The CHARAGAYT
  • Comfy LLC
  • Elite Group
  • MLL Industries, LLC
  • Kenshin LLC
  • Roxwell LLC
  • Step Investment Group

By Region

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • Germany
    • Italy
    • France
    • UK
    • Spain
    • Poland
    • Russia
    • The Netherlands
    • Norway
    • Czech Republic
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Indonesia
    • Malaysia
    • Thailand
    • Singapore
    • Australia & New Zealand
    • Rest of Asia Pacific
  • South America
    • Brazil
    • Argentina
    • Colombia
    • Rest of South America
  • The Middle East & Africa
    • Saudi Arabia
    • UAE
    • South Africa
    • Northern Africa
    • Rest of MEA

 

In Property

  • Residential
  • Commercial
  • Industrial
  • Land

For Business

  • Sales
  • Rental
  • Advantech LLC
  • Akcern
  • Barstool Sports
  • The CHARAGAYT
  • Comfy LLC
  • Elite Group
  • MLL Industries, LLC
  • Kenshin LLC
  • Roxwell LLC
  • Step Investment Group

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