The New Phase of the Real Estate Market: What Did the Initialing of the Peace Agreement Change?

Representatives of Armenia’s real estate and construction sectors identify one specific date after which the situation in Yerevan’s real estate market changed significantly: August 8, 2025, the day the leaders of Armenia and Azerbaijan initialed the peace agreement in the United States.

As Nver Safaryan, Co-Founder and Executive Director of Art Residence, a real estate development company, notes, it was following this event that a new wave of confidence in the Armenian real estate market began.

“Following the peace agreement, greater confidence has emerged that investing in Armenia has become safer. We also have foreign buyers. The majority of them are currently from the Russian Federation, but we also have buyers from European countries and the United Arab Emirates. Russia’s role is often highlighted in particular, but Armenian-Americans and other members of the Armenian diaspora are also purchasing property in Armenia. These purchases are driven by a significant increase in confidence in the country.”

Explaining the increase in prices, Nver Safaryan points to another factor: government fees have increased, as has the overall cost of construction. At the same time, he emphasizes that the population’s purchasing power has also increased, and no significant dissatisfaction among buyers has been observed.

“I view the increase in prices positively. When confidence in a country increases, the price level naturally rises as well. At the same time, the wage fund has increased, and, in my assessment, the population's satisfaction has not decreased.. According to our company’s statistics, 60% of purchases are made by residents of Armenia, while the remaining 40% can be considered non-resident buyers,” he adds.

These figures point to an important trend: Armenia’s real estate market is no longer solely a domestic-consumption market. Nearly half of buyers come from abroad, bringing new capital into the market and influencing the structure of local demand.