PORTLAND, UNITED STATES, UNITED STATES, February 20, 2023 /EINPresswire.com/ — The real estate market of Armenia has been showing strong growth in recent years and has become a great opportunity for investors looking to capitalize on a rapidly growing market. Armenia is a prime location for real estate investment, with its unique geography, growing economy, and low taxes. As a result, the country has become an attractive destination for foreign investors.
the Armenia real estate market size was valued at $880.4 million in 2018, and is projected to reach $1,249.3 million by 2026, growing at a CAGR of 4.3%. The sales segment accounted for more than half of Armenia real estate market share in 2018 and is expected to witness a CAGR of 4.0% during the forecast period.
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Real estate means land as well as any physical structure affixed to the land such as houses, buildings, and landscaping. Rise in economy of Armenia and increased focus of the government to diversify the economy help boost the growth of the real estate market in Armenia. Further, availability of affordable interest rates on mortgage loans is helping families in the country to afford houses. However, high poverty and unemployment restrict Armenia real estate market growth.
Armenia has a small, but rapidly growing economy that is driven by a large number of industries, including agriculture, manufacturing, tourism, and services. The country has seen an increase in foreign direct investment (FDI) in recent years and is now ranked in the top 10 countries in terms of FDI inflow. This growth in FDI has been supported by the government’s efforts to create a business-friendly environment, as well as the liberalization of the economy.
The real estate market in Armenia has grown significantly over the last few years, with the average price per square meter increasing by over 30% between 2017 and 2019. This growth has been largely driven by the influx of foreign investors, who are attracted by the relatively low taxes and cost of living in the country. Furthermore, the increasing demand and availability of high-quality housing has resulted in a surge in prices in the capital city of Yerevan.
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The government of Armenia has taken steps to support the growth of the real estate market, including the introduction of a new mortgage system, which has made it easier for individuals to purchase property. Additionally, the government has implemented tax incentives for investors, which has further led to an increase in real estate investment.
By property type, the land segment is expected to account for the largest share in Armenia real estate industry during the forecast period, due to high volume of land related transactions and its higher value. The land segment is expected to grow at a CAGR of 3.7% during the forecast period.
Depending on business type, sales is expected to hold a maximum market share and the rental segment is expected to grow at a higher CAGR of 4.9% during the forecast period.
The major players in the market includes AdaTech LLC, “Akcern” Real Estate Corporation, BARS Real Estate Company, “CHARAGAYT” Construction Company, Comfy LLC, Elite Group, MLL Industries, LLC, Renshin LLC, Roxwell LLC, and Step Investment Group.
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Overall, the real estate market in Armenia is an attractive opportunity for foreign investors looking to capitalize on a rapidly growing market. The country has a number of advantages that make it an attractive destination, including its unique geography, strong economy, and low taxes. The government has implemented a number of policies that have helped to stimulate the growth of the real estate market, making it a great opportunity for investors looking to make an informed investment decision.
David Correa
Allied Analytics LLP
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https://www.einnews.com/pr_news/617986972/armenia-real-estate-industry-to-grow-at-cagr-of-4-3-and-reach-1249-3-million-by-2026-76-pages-report