Our coopatriot «outgoing workers» have more sold than purchased real estate

In the Republic of Armenia in the second semester of the past year foreign citizens sold 2 times more real estate property than purchased. According to RA Cadastre analysis (chart 3.5-7) this phenomenon is especially apparent in the case of the citizens of the Russian Federation and CIS countries. In the contrary, in case of the citizens of EU countries, the picture is quite different: with little difference there were registered more buying than selling transactions. What does this mean? Is the intrest to the Armenian real estate market decreasing among our outgoing workers ?

So, according to the Cadastre statistics, in the 2nd semester of 2019, citizens from foreign countries bought about 1.300 unit real estate and sold about 2400. Traditionally, the activness within RF citizens still retains, But… If in July, 2019 only 338 appartments were purchased by them, during the same period was sold about 843 appartments. The difference is especially evident in case of lands – about 6 times (with the proportion 103: 608, charts 3.5-5 and 3.5-6 ). The picture is almost the same for the citizens of other CIS countries.

At last, it is important to mention that RF citizens, to be more precise, our coopatriots, sold about 389 agricultural lands and only 9 were purchased by them. There is no report about other CIS county citizens of registered buying transactions. Thus, we can come to a conclusion that our coopatriots who work out of the country, become permanent residents in other counries. So, what is this if not an emigration.

See Details Table 3.5-5, 3.5-6, 3.5-7 page 35

There hasn’t been a significant drop in apartment prices and most likely will not be

The apartment price fluctuations in the regions are very different depending on the city

Decentralization is taking place in the real-estate market