Key regions: United States, China, Japan, Germany, United Kingdom
The real estate market in Armenia has been experiencing significant growth and development in recent years, driven by various factors such as customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in the real estate market in Armenia have been shifting towards modern and high-quality properties. With the increasing urbanization and rising income levels, customers are seeking properties that offer convenience, comfort, and modern amenities. This has led to a rise in demand for residential properties with features such as smart home technology, energy efficiency, and contemporary designs. Trends in the market indicate a growing interest in real estate investment in Armenia. The country's favorable investment climate, coupled with its strategic location between Europe and Asia, has attracted both domestic and international investors. The government has also implemented various initiatives to promote investment in the real estate sector, such as tax incentives and simplified procedures for property acquisition. Local special circumstances, such as the presence of a large Armenian diaspora, have also contributed to the growth of the real estate market in Armenia. Many members of the diaspora are interested in investing in properties in their homeland, either for personal use or as a means of supporting the local economy. This has created a steady demand for real estate, particularly in popular cities like Yerevan. Underlying macroeconomic factors have played a crucial role in the development of the real estate market in Armenia. The country has witnessed stable economic growth in recent years, supported by sectors such as tourism, IT, and manufacturing. This has led to an increase in disposable income and purchasing power, driving the demand for real estate. Additionally, favorable government policies and reforms have created a conducive environment for the real estate sector. The government has implemented measures to streamline property registration processes, improve transparency, and protect the rights of property owners. These initiatives have increased investor confidence and attracted more players to the market. In conclusion, the real estate market in Armenia is experiencing growth and development due to customer preferences for modern properties, increasing real estate investment, local special circumstances, and favorable macroeconomic factors. The market is expected to continue its upward trajectory, driven by ongoing urbanization, government support, and the country's strategic location.
Data coverage:
Figures are based on value of residential and commercial real estate, average real estate value, residential estate transactions and leases.Modeling approach / Market size:
Market sizes are determined by a combined Top-Down and Bottom-Up approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use data from international organizations and industry associations. Next we use relevant key market indicators and data from country-specific associations such as GDP, price level index, household wealth, household size, number of renter and owner households, housing consumer spending per capita. This data helps us to estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, exponential trend smoothing. The main drivers are GDP per capita, population, number of renter and owner households, price level index, housing consumer spending per capita.Additional Notes:
The market is updated twice per year in case market dynamics change. The impacts of the Russia-Ukraine war are considered at a country-specific level.
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