Tenants in Armenia’s capital are starting to feel the effects of the war in Ukraine on their rent, as they are now competing with a flow of Russians that have made Yerevan their new home.
Since the war started, hundreds of thousands of Russians fled their country, and Armenia was one of their top destinations.
Many Russians moved to Armenia because their language is widely spoken in the country, and they can travel to it without visas or passports.
But this increase has caused rent to surge.
According to Vage Daniyelian, a real estate agency manager in Yerevan, "We've had many clients coming from Russia starting from March. Ukraine and Belarus as well, but the main wave is from Russia."
Tenants in Armenia’s capital are starting to feel the effects of the war in Ukraine on their rent, as they are now competing with a flow of Russians that have made Yerevan their new home.
Since the war started, hundreds of thousands of Russians fled their country, and Armenia was one of their top destinations.
Many Russians moved to Armenia because their language is widely spoken in the country, and they can travel to it without visas or passports.
But this increase has caused rent to surge.
According to Vage Daniyelian, a real estate agency manager in Yerevan, "We've had many clients coming from Russia starting from March. Ukraine and Belarus as well, but the main wave is from Russia."
https://www.euronews.com/2022/07/17/housing-prices-surge-in-yerevan-as-russians-flock-to-armenia-because-of-war
