Russian citizens’ share of foreign property purchases in Armenia rose to 62.7% in 2025
Russian citizens bought 1,262 properties in Armenia in 2025, or 62.7% of all purchases by foreign citizens. According to the Statistical Committee of Armenia, their purchases rose 33.1% from 948, and their share increased from 59.8% to 62.7%. Russian citizens accounted for 2.1% of all property sales in the country (1.6% in 2024).
The data were provided to the Statistical Committee by the Cadastre Committee. In total, foreign citizens bought 2,014 properties, 27% more than in 2024.
Apartments
Apartment purchases by Russian citizens rose 56.1%, from 431 to 673. That is 62.5% of apartments bought by foreigners and 3.2% of all apartment sales in the country (2.8% in 2024). Overall apartment sales in Armenia grew 35.3% to 21.2 thousand.
Russian citizens also bought 166 private houses (150 in 2024), 201 garages (132) and 171 land plots (186).
Sales exceed purchases
In 2025 Russian citizens sold 1,873 properties (1,835 in 2024), including 684 apartments (569), 432 private houses (466) and 669 land plots (712). For the second year in a row their sales exceeded purchases, but the gap narrowed from 887 to 611. For apartments it shrank from 138 to 11.
Other nationalities
Citizens of European countries bought 261 properties (226), US citizens 217 (191), citizens of CIS countries other than Russia 131 (74) and Iranian citizens 58 (55). Yerevan accounted for 1,304 purchases by foreigners, 54% more than in 2024.
Central Bank view
The inflow of Russian citizens grew in 2026. According to the Central Bank of Armenia, the net inflow (entries minus exits) in March–July was about 87 thousand people, roughly 20 thousand more than a year earlier. The central bank links this to the expansion of the Russia–Ukraine conflict and notes that growing interest in Armenian real estate may indicate plans for longer stays. Real estate prices in Yerevan rose 20% year-on-year in May 2026 and 13.8% in the regions. Citing these risks, the central bank raised its policy rate by 0.25 percentage points to 6.75% on September 15.
Photo: gpointstudio/Magnific
