A brief introduction to Armenia Real Estate
A major percentage of Armenia real estate industry is privatized after the independence of Armenia in the year 1991. The laws and regulations governing the Armenia real estate industry are quite liberal.Ministry which takes care of privatization, maintains a record of those properties which have not been privatized as yet. People not possessing citizenship of Armenia are permitted to purchase any property. They are also permitted to lease the purchased property for 99 years. Yerevan, is the most sought after place for purchasing property. Simultaneously, Yerevan also happens to be the most expensive place in Armenia. People opt for Yerevan properties if they are affordable or else opt for places which are quite close to Yerevan like Ashtarak, Ejmiatsin, Gyumri, Dilijan, Vanadzor, Karabakh.
Services offered by Armenia real estate industry:
The brokers assisting individuals in matters related to real estate usually charge 3% of the total cost. One can take guidance and assistance from an efficient broker in Armenia for carrying out the various real estate searches. However, in most of the cases, the brokers may not have details of the different properties available in Armenia. Individuals taking help from the Armenia real estate brokers may have to shell out as much as $250 towards charges of the Armenia real estate professionals. Armenia is not equipped with the facility of MLS or Multiple listing service.The approximate prices of real estate properties in some areas are given below. These were the prices in 2004 for 1m square. One needs to check the prices presently ruling the Armenia real estate market. The price of property in areas in the Center were USD$500 per meter square. USD$400 per meter square was the price of a property in the district of Arabkir. Armenia real estate property costs in Davidashen, Malatia-Sebastia, Achapnyak, Nor-Nork, Avan, Kanaker-Zeytun, Erebuni, Shengavit rabged between USD$200 per meter square to USD$250 per meter square during the same period (2004). Nubarashen had USD$93.8. per meter square.
Since, Armenia real estate does not have the facility of multiple listing services, Internet can also be made use of. Websites are growing in Armenia. There are several websites which provide information on Armenia real estate.
