Armenia, a land-locked mountainous nation in South Caucasus is located Between the Caspian Sea and Black Sea. With its capital at Yerevan, the country witnesses continental type of climate with sunny and dry winters and low humidity levels. Most of the real estate in Armenia has been privatized after the independence of the country in 1991. On the other hand, the properties that have not been privatized yet are listed under the Privatization ministry.
At present, the law regarding Armenia real estate is quite liberal. Even the international real estate investors are allowed to buy apartments and offices in the country, or choose Armenia rentals and lease properties for a term of 99 years. Besides this, the locally registered businesses as well as foreign citizens of Armenian descents have the right to buy land in the country.
The city of Yerevan is extremely centralized and comprises of the costliest real estate in Armenia, followed by nearby towns like Ashtarak and Ejmiatsin, and other towns and cities like Vanadzor, Dilijan and Gyumri. In other parts of the country, the land is available at dirt cheap prices which one can buy for a price that would be comparable to a free property.
The Armenia real estate prices have been witnessing a sharp rise in the last few years. In the capital, the prices have rocketed in the last 5 years. At present, good properties are available at a price of $2000 per square meter. At this rate, an apartment for standard size is available for a price of $200,000. Being the most desirable area in the entire country, this price is not considered to be too expensive.
The Armenia real estate buying procedure has undergone numerous liberalizations in the past few years, due to which buying real estate in Armenia has become a lot easier. According to the law of the land, one needs to hire a local lawyer to help with the purchases and documentation of properties. International real estate investors who want to purchase houses or apartments in Armenia can either lease the land for 99 years, or set up an Armenia based company and purchase the land through it. Most of the Armenia real estate agencies will help you set up a company for a fee.
Investing in real estate in Armenia is usually not the top-most choice of people from different parts of the world. However, this mentality of the people is slowly changing due to the realization that Armenia is an inexpensive and worth-living country for people who wish to stay there. The crime rate in the country is almost non-existent, and the houses and apartments that are commonly available at amazingly cheap. Also, the increasingly stability of the country makes it look like the conditions are not going to regress at any point in the near future.
Taylor White is an international real estate investor and leading the charge at International Real Estate Listings the worldwide leader in Armenia real estate and Armenia real estate exchange. Mexico real estate owners, agents, and developers are encouraged to create an account, upload an unlimited number of listings, write as much creative property details, include a You Tube property video, and it will be activated as a basic listing for 6 months, free.