GlobeNewswireMarch 31, 2020
Increased focus on diversification of Armenian economy, rise in the number of property transactions, and affordable interest rates on mortgage loans are the factors driving the growth of the Armenia real estate market. Based on property type, the land segment held the highest share in 2018. Whereas, based on business type, the sales segment contributed for the largest market share.
Portland, OR, March 31, 2020 (GLOBE NEWSWIRE) — As per the report published by Allied Market Research, the Armenia real estate market accounted for $880.4 million in 2018, and is projected to portray $1.24 billion by 2026, growing at a CAGR of 4.3% from 2019 to 2026. The report offers a comprehensive analysis of the Industry dynamics, key market segments, market trends and estimations, top investment pockets, and competitive landscape.
Increased focus on diversification of Armenian economy, increase in the number of property transactions, and affordable interest rates on mortgage loans have boosted the growth of the Armenia real estate market. However, high dependence on the Russian economy, and increase in poverty and unemployment rate hamper the market growth. On the contrary, increased focus to help the real estate market is expected to create lucrative opportunities in the near future.
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The Armenia market is segmented on the basis of property type and business type. On the basis of property type, the market is divided into residential, commercial, industrial, and land. The land segment held the largest share in 2018, accounting for more than two-fifths of the market. On the other hand, the industrial segment is expected to manifest the fastest CAGR of 5.8% during the forecast period.
Based on business type, the market is categorized into sales and rental. The rental segment is expected to register the fastest CAGR of 4.9% during the forecast period. However, the sales segment held the largest share in 2018, accounting for more than two-thirds of the total revenue.
The Armenia real estate market report includes an in-depth analysis of major market players BARS Real Estate Company, “CHARAGAYT” Construction Company, AdaTech LLC, Comfy LLC, Elite Group, MLL Industries, LLC, Renshin LLC, Roxwell LLC, Step Investment Group, and “Akcern” Real Estate Corporation.
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