For commercial real estate, location significantly impacts pricing. Office and commercial spaces in non-central areas of Yerevan typically cost between $1,000 and $1,500 per square meter. In the city center, commercial property can cost $2,000-3,000 or more per square meter. However, note that this price range generally reflects high-quality properties such as business centers or separate spaces with high-quality repairs, decoration, equipment, and security. In the regions outside Yerevan, commercial space is more affordable, roughly $500 per square meter.
Cost of private houses in Armenia
In Armenia, you can find private houses on the outskirts of cities, in rural areas, as well as in the center of the capital. The cost of private houses in Yerevan starts around $200,000. In prestigious neighborhoods and downtown areas, the prices start from $500,000 and can reach several million dollars. These are typically high-end, elite mansions with fine finishes and furniture, large plots, garages, swimming pools, and other modern amenities. In other major cities like Vanadzor and Gyumri, the price of private houses starts around $50,000. In other cities and villages, private houses are more affordable.
Let’s summarize
The prices of real estate in Armenia depends on the type and location of the property. Elite properties, both residential and commercial, in central and prestigious districts of Yerevan are significantly more expensive than those in other areas. These central properties also offer much higher standards and amenities. The cost of houses varies widely, and this allows buyers to choose a property that fits their budget and goals.
