Price Changes in New Constructions in Armenia: 2023-2024 Analysis

The Armenian real estate market has experienced significant fluctuations throughout 2023-2024, with varying trends across different regions and districts. Let's dive into a detailed analysis of these changes.

Yerevan

Central Districts

The most notable price increase was observed in Kentron (Central Yerevan), where prices rose by 97,500 AMD per square meter, reaching 1,072,500 AMD - the highest in the city. This surge reflects the continued high demand for property in Yerevan's prestigious central district.

Northern Districts

Arabkir showed moderate growth (+19,500 AMD), with current prices at 721,500 AMD/m²
Nor Nork experienced a significant increase (+30,000 AMD), now at 460,000 AMD/m²
Kanaker-Zeytun saw a decline (-23,250 AMD), settling at 540,000 AMD/m²

Western Districts

Davitashen recorded the second-highest increase (+65,000 AMD), reaching 575,000 AMD/m²
Ajapnyak experienced a significant decrease (-29,000 AMD), now at 440,000 AMD/m²

Other Districts

Shengavit showed positive growth (+25,000 AMD), with prices at 495,000 AMD/m²
Avan saw the largest decrease (-45,000 AMD), currently at 475,000 AMD/m²
Malatia-Sebastia remained stable with no change, maintaining at 550,000 AMD/m²

Regional Developments

Other Notable Regional Changes:

Artashat (Ararat): +49,500 AMD, now at 420,000 AMD/m²
Abovian (Kotayk): -35,000 AMD, currently at 345,000 AMD/m²
Tsakhkadzor (Kotayk): -10,000 AMD, at 510,000 AMD/m²
Dilijan (Tavush): No change, stable at 610,000 AMD/m²