Grant Thornton has conducted an analysis of the real estate market in Armenia for the third time.

“The report, available in Armenian and English languages, is an independent, comprehensive and trusted study that provides an insight on the structure of the real estate market, transactions and types of property, enables thorough understanding of the market developments and comparison of the latest trends with those from the previous years,” the company said.

In 2020 the real estate market declined compared to the previous year due to the restrictions caused by the coronavirus epidemic, the war and the resulting uncertainty.

These factors had a significant impact, in particular, on the quantity of purchase/sale transactions with apartments in multi-apartment buildings, while the largest decline in these transactions was recorded in Yerevan. In particular, in the fourth quarter of the year, a decline in the quantity of apartment purchase/sale transactions was observed in the bordering marzes and marzes that had become bordering ones as a result of the war.

In contrast to the annual decline in apartment purchases/sales, there was a 4% annual growth of land purchase/sale transactions in 2020.

“Download the full report from our website and share with all interested individuals and organizations.

The full analysis is also available in two languages in Tableau software,” added the company.