Armenia Real Estate Market Outlook - 2026

The Armenia real estate market size was valued at $880.4 million in 2018, and is projected to reach $1,249.3 million in 2026, growing at a CAGR of 4.3%. Real estate is defined as a property, which is made up of land and any physical structures on it such as various types of buildings. 

Increased focus on diversification of Armenian economy, and rise in the number of property transactions drives the Armenia real estate market growth. There is growth in the number of transactions pertaining to the purchase and sale of residential homes, land, public & industrial facilities, and garages. In addition, there were around 47,000 transactions for state registration of the right to immovable property in Armenia. One of the major reasons for market growth has been the law on returning the income tax to residents who re-pay mortgage loan. Many Armenians are repatriating and buying real estate. The rise in demand for property has also increased property prices. 

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In addition, the affordable interest rates on mortgage loans fuels the growth of the market. For example, in Armenia, interest rates on mortgage loans are affordable and equal to some of the neighboring countries in the region. It is noted that the mortgage loans in Armenian Drams are around 12% per annum for 10 years. However, the mortgage loans in dollars are offered even at lower rates. However, high dependence on the Russian economy, and high poverty and unemployment rate are expected to hamper the Armenia real estate market growth. 

Furthermore, the rise in focus of the government to foster the growth of the Armenia real estate market is expected to offer lucrative growth opportunities for market players. For example, in November 2019, the Armenian parliament approved amendments to the law, which determines the procedure for the cadastral valuation of real estate close to market value. Therefore, instead of the current land and property tax, there will be an introduction of a unified real estate tax, which will include land and building, defining the land as its object. This ensures the transition from cadastral value to real market value. Hence, cadastral prices will be formed, which will be close to market prices, thereby increasing the cadastral value of the real estate in Armenia. The amendments are expected to come into force by 2021. Moreover, the government-held consultation on the property tax system reforms in the country to develop progressive taxation mechanisms for real estate, which ensures a fair and equitable distribution of tax burden. The rise in focus on the real estate market by the government is expected to drive the growth of market in the future.

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The Armenia real estate market is segmented into property type and business type. By property type, the market is classified into residential, commercial, industrial, and land. The industrial segment is anticipated to dominate the market throughout the study period. There is a rise in demand for industrial spaces in Armenia. This is mainly due to the opening of new factories or manufacturing plants in Armenia. For example, recently in April 2019, a Chinese elevator manufacturer has signed Memorandum with Armenia to open a plant in Kotayk Province, with an estimated annual production of 2,000-3,000 elevators. Further, a new Diamond cutting factory opened in the city of Abovyan in December 2019. In addition, a new cheese factory in Noragavit was opened in March 2019. Therefore, growth in the number of factories or workshops is expected to increase the demand for industrial spaces in the country.

Depending on business type, the market is segregated into sales and rental. The rental segment is anticipated to dominate the Armenia real estate market share throughout the study period. Growth in the commercial and industrial segment is expected to increase the lease transactions in Armenia. The commercial segment is one of the major contributors to the lease segment. There are many U.S. brands present in Armenia. These include Calvin Klein, Tommy Hilfiger, Polo, and Gold’s Gym. Further, the new government, which was elected into power in May 2018, announced that they will remove all administrative and customs barriers for entrants. This will help new retailers to enter market, thereby boosting the growth of the lease real estate market.

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Competition Analysis

The key market players profiled in the report of the Armenia real estate market include AdaTech LLC, “Akcern” Real Estate Corporation, BARS Real Estate Company, “CHARAGAYT” Construction Company, Comfy LLC, Elite Group, MLL Industries, LLC, Renshin LLC, Roxwell LLC, and Step Investment Group.  

Key Benefits for Stakeholders:

• The report provides an extensive analysis of the current and emerging Armenia real estate market trends and dynamics. The report also provides Armenia real estate market size from 2018 to 2026.  
• In-depth Armenia real estate market analysis is conducted by constructing estimations for the key segments between 2018 and 2026. 
• Extensive analysis of the market is conducted by following key product positioning and monitoring of top competitors within the market framework.
• A comprehensive analysis four major regions is provided to determine the prevailing opportunities.
• Armenia real estate market forecast analysis from 2019 to 2026 is included in the report.
• Key market players operating in the market are profiled in this report and their strategies are analyzed thoroughly, which helps understand the competitive outlook of the Armenia real estate industry. 

Armenia Real Estate Market Segments:

By Property

• Residential
• Commercial
• Industrial 
• Land

By Business

• Sales
• Rental

Key Players

• AdaTech LLC
• Akcern
• BARS
• CHARAGAYT
• Comfy LLC
• Elite Group
• MLL Industries, LLC 
• Renshin LLC
• Roxwell LLC 
• Step Investment Group

 Key Market Segments

• By PROPERTY TYPE
  • Residential
  • Commercial
  • Industrial
  • Land
• By BUSINESS TYPE
  • Sales
  • Rental
• By Region
  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • France
    • Germany
    • Italy
    • Spain
    • UK
    • Russia
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Thailand
    • Malaysia
    • Indonesia
    • Rest of Asia-Pacific
  • LAMEA
    • Brazil
    • South Africa
    • Saudi Arabia
    • UAE
    • Argentina
    • Rest of LAMEA

 
Key Market Players

• RENSHIN LLC
• MLL INDUSTRIES, LLC
• COMFY LLC
• ADATECH LLC
• BARS REAL ESTATE COMPANY
• ROXWELL LLC.
• “CHARAGAYT” CONSTRUCTION COMPANY
• “AKCERN” REAL ESTATE CORPORATION
• STEP INVESTMENT GROUP
• ELITE GROUP

CHAPTER 1: INTRODUCTION

1.1. Report description
1.2. Key benefits for stakeholders
1.3. Key market segments
1.4. Key market players
1.5. Research methodology

1.5.1. Secondary research
1.5.2. Primary research
1.5.3. Analyst tools & models

CHAPTER 2: EXECUTIVE SUMMARY

2.1. Key findings:
2.2. CXO perspective

CHAPTER 3: MARKET OVERVIEW

3.1. Market definition and scope
3.2. Key findings

3.2.1. Top investment pockets

3.3. Porter's five forces analysis
3.4. Market dynamics

3.4.1. Drivers

3.4.1.1. Increased focus on diversification of Armenian economy
3.4.1.2. The rise in the number of property transactions
3.4.1.3. Affordable interest rates on mortgage loans

3.4.2. Restraints

3.4.2.1. High dependence on the Russian economy
3.4.2.2. High poverty and unemployment rate

3.4.3. Opportunity

3.4.3.1. Increased focus to help the real estate market

CHAPTER 4: ARMENIA REAL ESTATE MARKET, BY PROPERTY TYPE

4.1. Market overview

4.1.1. Market size and forecast, by type

4.2. Residential

4.2.1. Key market trends, growth factors, and opportunities
4.2.2. Market size and forecast

4.3. Commercial

4.3.1. Key market trends, growth factors, and opportunities
4.3.2. Market size and forecast

4.4. Industrial

4.4.1. Key market trends, growth factors, and opportunities
4.4.2. Market size and forecast

4.5. Land

4.5.1. Key market trends, growth factors, and opportunities
4.5.2. Market size and forecast

CHAPTER 5: ARMENIA REAL ESTATE MARKET, BY BUSINESS TYPE

5.1. Market overview

5.1.1. Market size and forecast, by technology

5.2. Sales

5.2.1. Key market trends, growth factors, and opportunities
5.2.2. Market size and forecast

5.3. Rental

5.3.1. Key market trends, growth factors, and opportunities
5.3.2. Market size and forecast

CHAPTER 6: COMPANY PROFILES

6.1. ADATECH LLC

6.1.1. Company overview
6.1.2. Key Executive
6.1.3. Company snapshot
6.1.4. Product portfolio

6.2. “AKCERN” REAL ESTATE CORPORATION

6.2.1. Company overview
6.2.2. Key Executive
6.2.3. Company snapshot
6.2.4. Product portfolio

6.3. BARS REAL ESTATE COMPANY

6.3.1. Company overview
6.3.2. Company snapshot
6.3.3. Product portfolio:

6.4. “CHARAGAYT” CONSTRUCTION COMPANY

6.4.1. Company overview
6.4.2. Key Executives
6.4.3. Company snapshot
6.4.4. Product portfolio

6.5. COMFY LLC

6.5.1. Company overview
6.5.2. Company snapshot
6.5.3. Product Portfolio

6.6. ELITE GROUP

6.6.1. Company overview
6.6.2. Key Executives
6.6.3. Company snapshot
6.6.4. Product portfolio

6.7. MLL INDUSTRIES, LLC

6.7.1. Company overview
6.7.2. Key Executives
6.7.3. Company snapshot
6.7.4. Product portfolio

6.8. RENSHIN LLC

6.8.1. Company overview
6.8.2. Key Executives
6.8.3. Company snapshot
6.8.4. Product portfolio

6.9. ROXWELL LLC.

6.9.1. Company overview
6.9.2. Company snapshot
6.9.3. Product portfolio

6.10. STEP INVESTMENT GROUP

6.10.1. Company overview
6.10.2. Company snapshot
6.10.3. Product portfolio

LIST OF TABLES

TABLE 01. ARMENIA REAL ESTATE MARKETREVENUE, BY PROPERTY TYPE, 2018–2026 ($MILLION)
TABLE 02. ARMENIA REAL ESTATE MARKET REVENUE, BY BUSINESS TYPE, 2018–2026 ($MILLION)
TABLE 03. ADATECH: KEY EXECUTIVE
TABLE 04. ADATECH: COMPANY SNAPSHOT
TABLE 05. ADATECH: PRODUCT PORTFOLIO
TABLE 06. AKCERN: KEY EXECUTIVE
TABLE 07. AKCERN: COMPANY SNAPSHOT
TABLE 08. AKCERN: PRODUCT PORTFOLIO
TABLE 09. BARS: COMPANY SNAPSHOT
TABLE 10. BARS: PRODUCT PORTFOLIO
TABLE 11. NEDO: KEY EXECUTIVES
TABLE 12. CHARAGAYT: COMPANY SNAPSHOT
TABLE 13. CHARAGAYT: PRODUCT PORTFOLIO
TABLE 14. COMFY: COMPANY SNAPSHOT
TABLE 15. COMFY: PRODUCT PORTFOLIO
TABLE 16. ELITE: KEY EXECUTIVES
TABLE 17. ELITE: COMPANY SNAPSHOT
TABLE 18. ELITE: PRODUCT PORTFOLIO
TABLE 19. MLL INDUSTRIES: KEY EXECUTIVES
TABLE 20. MLL INDUSTRIES: COMPANY SNAPSHOT
TABLE 21. MLL INDUSTRIES: PRODUCT PORTFOLIO
TABLE 22. RENSHIN: KEY EXECUTIVES
TABLE 23. RENSHIN: COMPANY SNAPSHOT
TABLE 24. RENSHIN: PRODUCT PORTFOLIO
TABLE 25. ROXWELL: COMPANY SNAPSHOT
TABLE 26. ROXWELL: PRODUCT PORTFOLIO
TABLE 27. STEP: COMPANY SNAPSHOT
TABLE 28. STEP: PRODUCT PORTFOLIO

LIST OF FIGURES

FIGURE 01. ARMENIA REAL ESTATE MARKET, 2018–2026
FIGURE 02. ARMENIA REAL ESTATE MARKET: KEY PLAYERS
FIGURE 03. TOP INVESTMENT POCKETS
FIGURE 04. MODERATE BARGAINING POWER OF SUPPLIERS
FIGURE 05. LOW-TO-MODERATE BARGAINING POWER OF BUYERS
FIGURE 06. LOW THREAT OF SUBSTITUTES
FIGURE 07. MODERATE THREAT OF NEW ENTRANTS
FIGURE 08. MODERATE COMPETITIVE RIVALRY
FIGURE 09. ARMENIA REAL ESTATE MARKET: DRIVERS, RESTRAINTS, AND OPPORTUNITIES
FIGURE 10. ARMENIA REAL ESTATE MARKET REVENUE, BY PROPERTT TYPE, 2018–2026 (%)
FIGURE 11. ARMENIA RESIDENTIAL REAL ESTATE MARKET REVENUE, 2018–2026 ($MILLION)
FIGURE 12. ARMENIA COMMERCIAL REAL ESTATE MARKET REVENUE, 2018–2026 ($MILLION)
FIGURE 13. ARMENIA INDUSTRIAL REAL ESTATE MARKET REVENUE, 2018–2026 ($MILLION)
FIGURE 14. ARMENIA LAND REAL ESTATE MARKET REVENUE, 2018–2026 ($MILLION)
FIGURE 15. ARMENIA REAL ESTATE MARKET REVENUE, BY BUSINESS TYPE, 2018–2026 (%)
FIGURE 16. ARMENIA REAL ESTATE MARKET REVENUE, BY SALES, 2018–2026 ($MILLION)
FIGURE 17. ARMENIA REAL ESTATE MARKET REVENUE, BY RENTAL, 2018–2026 ($MILLION)