Investment property in Armenia: what to buy and what it costs
One-bedroom apartment in Gyumri, Armenia's second city
$34,000
A 55 m² apartment: a living room, a bedroom, a kitchen and a bathroom. Gyumri is the second largest city in Armenia, with the historic Kumayri quarter built of black and red tuff, universities and Shirak International Airport. A square metre here costs about $610, the most affordable entry to the Armenian market.
One-bedroom apartment in the resort town of Dilijan
$47,000
A 50 m² apartment: a living room with a kitchen, a bedroom and a bathroom. Dilijan is a resort town in the mountain forests of Tavush an hour and a half's drive from Yerevan, with a national park, an old craftsmen's quarter and an international school. Over the year the price per square metre in the town rose by 20.7%.
One-bedroom apartment in Tsaghkadzor near the ski slopes
$59,000
A 45 m² apartment: a living room with a kitchen, a bedroom and a bathroom. Tsaghkadzor is a ski resort on the slopes of Mount Teghenis an hour's drive from Yerevan, with a cable car, the Kecharis Monastery and sports training centres. Apartments here are bought to let by the night to skiers in winter and holidaymakers in summer.
One-bedroom apartment in Nor Nork in Yerevan
$66,000
A 50 m² apartment: a living room with a kitchen, a bedroom and a bathroom. Nor Nork is a large residential district in the north-east of Yerevan, with housing estates and new buildings, schools, parks and shopping centres. Almost a quarter of all apartment deals in Yerevan take place here, and over the year the price per square metre in the district rose by 28.8%.
Two-bedroom apartment in Shengavit in south-west Yerevan
$91,000
A 65 m² apartment: a living room, two bedrooms, a kitchen and a bathroom. Shengavit is a residential district in the south-west of Yerevan with metro stations to the centre, schools and markets. Over the year the price per square metre in the district rose by 29.2%, faster than in any other district of Yerevan.
One-bedroom apartment in quiet Davtashen
$94,000
A 55 m² apartment: a living room, a bedroom, a kitchen and a bathroom. Davtashen is a quiet residential district in the north-west of Yerevan by the Hrazdan river gorge, with new buildings, schools and parks. Over the year the price per square metre in the district rose by 25.9%.
Two-bedroom apartment in Arabkir near the centre
$130,000
A 70 m² apartment: a living room, two bedrooms, a kitchen and a bathroom. Arabkir is a green residential district north of central Yerevan, with Komitas Avenue, Barekamutyun metro station, schools and parks. Apartments here are rented by professionals and families who want the centre nearby.
Two-bedroom apartment in central Kentron
$160,000
A 70 m² apartment: a living room, two bedrooms, a kitchen and a bathroom. Kentron is the central district of Yerevan with Republic Square, the opera house, the Cascade, offices, restaurants and embassies. The apartment is in the price zone at the edge of the centre: a square metre here costs about $2,200, less than near Republic Square.
What investors buy in Armenia
Above are the most interesting offers selected by our experts. A manager will find a property for your requirements.
Apartments for sale in Yerevan, Tsaghkadzor, Dilijan and Gyumri, prices by Yerevan district, taxes on buying and letting, rules for foreigners, residence and citizenship.
Armenia is a compact market centred on Yerevan: apartment deals in the capital rose by 65.7% over the year, and the price per square metre in apartment buildings rose by 23.5%. In Yerevan's residential districts a square metre costs about $1,400-2,100, in central Kentron about $2,800. A one-bedroom apartment in Gyumri costs $34,000, in Yerevan $66,000, a two-bedroom apartment in Kentron $160,000.
This page covers apartments in Yerevan's residential districts and centre, at the Tsaghkadzor ski resort, in Dilijan and Gyumri, prices by district, taxes on buying and letting, rules for foreigners and residence. A manager will confirm what is for sale today and the exact price.
The market in brief
Prices and rules as of 2026.
Prices are based on the average market price per square metre of an apartment in an apartment building in the district and price zone for August 2026; $1 = 360.8 drams.
How much does an apartment in Armenia cost in 2026
Central Kentron is the most expensive: a square metre here costs about $2,800, almost twice as much as in Shengavit and Avan. Over the year prices rose fastest in Yerevan's residential districts: Shengavit by 29.2%, Erebuni by 29%, Nor Nork by 28.8%, and slowest in Kentron, by 12.7%. Outside the capital the Tsaghkadzor ski resort is the most expensive, while in Gyumri a square metre costs about $610.
| District and city | Average price per m² | 60 m² apartment | Price growth over the year |
|---|---|---|---|
| Yerevan, Kentron | ~$2,800 | ~$170,000 | +12.7% |
| Yerevan, Arabkir | ~$2,100 | ~$130,000 | +18.6% |
| Yerevan, Davtashen | ~$1,700 | ~$100,000 | +25.9% |
| Yerevan, Nor Nork | ~$1,500 | ~$89,000 | +28.8% |
| Yerevan, Erebuni | ~$1,500 | ~$87,000 | +29.0% |
| Yerevan, Shengavit | ~$1,400 | ~$84,000 | +29.2% |
| Yerevan, Avan | ~$1,400 | ~$84,000 | +26.9% |
| Tsaghkadzor | ~$1,300 | ~$78,000 | unchanged |
| Dilijan | ~$930 | ~$56,000 | +20.7% |
| Gyumri | ~$610 | ~$37,000 | +0.9% |
Data of the Cadastre Committee of Armenia: average market prices per square metre of apartments in apartment buildings for August 2026, based on contract prices and prices of sold apartments; price growth is August 2026 against August 2025. Dollars at $1 = 360.8 drams, rounded up.
What taxes are paid on letting and owning
The tax on rent in Armenia is the same for residents and non-residents and is charged on the full rent, with no deduction for expenses. If a company or a sole trader rents the apartment, the tenant withholds the tax on every payment; otherwise the owner pays it. A manager will calculate the rental income of a specific apartment after tax in the chat.
| Tax | Rate |
|---|---|
| Rental income | 10% of the rent with no deductions |
| Rental income over $170,000 (60 million drams) a year | a further 10% on the amount above the threshold |
| Annual property tax | 0.05-1.5% of the cadastral value on a scale, in full from 2026 |
| Property tax example | 30,000 drams (~$84) a year for an apartment with a cadastral value of 30 million drams |
| Sale of an apartment by an individual | not taxed |
Data for 2026; countries are compared in the rental yield table.
A Russian tax resident declares rental income in Russia and offsets the tax paid in Armenia under the double tax treaty. How to bring in the money for the purchase is on the page how to send money to Armenia.
What costs to add to the price
| Payment | Amount |
|---|---|
| Purchase tax | none: the buyer pays no separate tax on acquiring a home |
| Public services number | free, with a passport and its notarised translation into Armenian |
| Notary | at the notary's rate, the contract must be notarised |
| Title registration | a state fee at the Cadastre Committee, takes a few working days |
Data for 2026. Payment goes through an account in an Armenian bank with documents on the source of funds: since 12 August 2026 banks check the payer's citizenship, address and tax residence. The manager calculates the total for a specific property.
In Armenia the Cadastre Committee extract and the developer are checked before the deposit
Mistakes cost more than the fees: an apartment with an encumbrance or a seizure, an unlegalised layout change, a new building without the developer's permits, a house with a plot that a foreigner cannot register in their own name, a transfer held by the bank because the source of funds was not confirmed. Murblz support removes these risks: we find an apartment for the budget and goal, check the extract and the developer, prepare payment through an Armenian bank and take the deal through the notary to title registration, and help with letting.
The cost of support depends on the purchase budget and the goal - investment, relocation or a home for yourself; the manager calculates it in the chat.
Does the purchase give residence
Residence in Armenia is granted for work, your own business, study, family or Armenian origin, and buying property is not one of these grounds. Under the new law on foreigners, which takes effect on 1 November 2026, temporary residence is first granted for a year, and permanent residence after three years. The application procedure is on the page Armenia residence permit, the path to a passport on the page Armenian citizenship.
An apartment can be bought without any status, with a passport: a foreigner registers an apartment or a house in their own name, while land goes through an Armenian company or a long-term lease, so a house with a plot is bought differently from an apartment. Russian citizens often do not need residence at all: they enter even with an internal passport and stay without a visa for up to 180 days a year. A manager will find an apartment for a family move in the chat.
How we select a property
- Budget and goal: rental income, capital preservation, relocation or a home for yourself. The manager clarifies the city and district - Yerevan, Tsaghkadzor, Dilijan or Gyumri.
- A selection of real properties: apartments with the seller's price, area, building year and a yield calculation.
- Checks: an extract from the Cadastre Committee - owner, area, encumbrances and seizures, a legalised layout, the developer's permits for a new building, property tax and utility debts.
- A remote deal by power of attorney: a public services number, an account in an Armenian bank, the contract at the notary, payment by transfer and title registration at the Cadastre Committee.
The manager sends the selection to the chat, with sellers' prices as of the selection date.
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More on buying in this country:
- Property in Armenia for foreigners: rules, taxes and the deal
- Buying an apartment in Armenia
- How to send money to Armenia
- Armenia residence permit
- Taxes in Armenia
- Armenian citizenship
- Company registration in Armenia
- Yerevan: life, rent and districts
- Armenia: all programs
All countries and budgets compared - on the page Investment property abroad.
FAQ
How much does an apartment in Armenia cost in 2026?
Can foreigners buy property in Armenia?
Does buying property give residence in Armenia?
What taxes are paid when buying an apartment in Armenia?
What taxes does an apartment owner pay in Armenia?
Where to buy an apartment for investment in Armenia?
Can an apartment in Armenia be bought remotely?
How to pay for an apartment in Armenia from abroad?
Don’t want to figure this out alone?
We handle the whole process end to end: we shortlist properties for your goal, run legal checks and support the deal through to registration. Ask your question in the chat: the free consultation starts right here. Legal representation before authorities and courts is handled by Murblz specialists together with locally licensed partners.
The Murblz consultant replies straight away in the chat on this page. Describe your situation and we will work it out together.
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