For many, buying a house in Armenia is not just a transaction — it is a return to their roots, culture, language, and way of life. For those without Armenian heritage but who feel at home here, it is a way to find stability and comfort in a friendly and safe country.

Interest in buying property in Armenia continues to grow: homes remain relatively affordable, the real estate market is developing, and purchases can be facilitated through mortgages or government support programs.

In this guide, we will explain how to buy a house in Armenia affordably, what documents are required, how the process works, and what to pay attention to before signing the deal.

What Are the Options for Buying a House in Armenia?

The Armenian real estate market offers several ways to purchase a house, each suited to different goals, budgets, and life circumstances:

1. Buying a private house with a mortgage on the secondary market.

This is the most common option. Private houses are available both in cities and rural areas. Prices vary significantly depending on the region, house condition, and land availability.

1. Buying a townhouse with a mortgage.

This format is becoming increasingly popular, especially around Yerevan. A townhouse is a compromise between an apartment and a standalone house, offering a smaller lot size but a high level of comfort.

1. Buying a house with government-supported mortgage programs.

If you meet certain criteria (young families, military personnel, displaced individuals, etc.), the government may subsidize part of the interest rate or loan amount.

1. Building your own house.

You can purchase land and build a house according to an individual design. Mortgage programs are also available for this purpose.

1. Buying a house without a mortgage.

This option is often used if the buyer has savings, income from abroad, or can secure a loan using other property as collateral.

House in Yerevan or in the Regions — Which Is More Advantageous?

If you are looking for the best real estate in Yerevan, be prepared for higher prices.

At the same time, it is possible to buy a house in Armenia at a lower cost in the regions — for example, in Syunik, Lori, or Tavush.

It is important to understand that the price depends not only on the region but also on proximity to highways, infrastructure, and the size of the land plot.

Where to buy a house in Armenia for family living?

1. If work and schools are priorities — Yerevan, Abovyan, Vagharshapat.
2. For a summer home or a quieter life — Dilijan, Sevan, Yeghegnadzor.

New Construction or Secondary Market — Which to Choose?

There are two main options on the market:

1. Private houses from developers — often more expensive but with a guarantee of quality.
2. Secondary market homes — more affordable, but legal or technical risks are possible.

If your goal is to buy a turnkey house in Armenia, it is better to choose new properties.

If you are looking for a more budget-friendly option, consider the secondary market.

If you're interested in buying an apartment in Yerevan, check out the step-by-step guide on AFM.

Private House Developers in Armenia: Where to Turn in 2025

If you are considering purchasing a private house or townhouse in Yerevan or its surroundings, take a look at these reliable construction companies:

1. Nut Construction (Townhouse.am) — Townhouses and villas in Avan-Arinj, including NUT House, WhiteNut, and RedNut; premium materials, custom designs, with options for mortgages and income tax refunds.
2. Tesaran Residence — 112 private houses in Kanakeravan, offering views of Mount Ararat, developed infrastructure, and a safe environment; installment plans up to 14 months and mortgage options with income tax refunds.
3. Modern Town — Private houses and townhouses in Yerevan; modern layouts, high-quality finishes; office located at 21 David Hovhannesy Street.
4. Americana Armenia — Residential community in Proshyan: 16 private houses and 6 apartment buildings; built to American standards, with the possibility of an income tax refund upon purchase.

These developers offer a variety of housing options that meet modern standards of comfort and quality. When choosing, pay attention to payment terms, the possibility of customized designs, and additional options such as installment plans or mortgages.

Reliable Websites and Services for Finding Property in Armenia

Finding housing in the Armenian capital is easiest through major specialized platforms. Below are trusted resources that can help you buy an apartment in Yerevan directly, without intermediaries, and with up-to-date information:

1. List.am — The most popular classifieds website in Armenia. Offers listings from private sellers and agencies, covering both the secondary market and new developments.
2. Myrealty.am — A platform with an advanced filtering system. Convenient for searching by district, price range, property type, and other parameters.
3. Estate.am — An optimal choice for foreigners and English-speaking users. Features listings in Yerevan and other regions of Armenia.
4. MyHome (official project by Ameriabank) — An online platform focusing on new developments from bank-accredited developers. Includes a built-in mortgage calculator to help estimate monthly payments.

Choose listings with direct contact information for developers or owners — this will help you avoid extra commission costs and speed up the transaction process.

How Much Does a House Cost in Armenia in 2025?

Prices vary significantly across different regions. Below is a table with the average cost of houses:

Average House Prices in Armenia by Region (2025)

If you are planning to purchase a house in Armenia, it is recommended to use the AFM mortgage calculator to explore available options and estimate your monthly payments.

Tip: Look for houses in areas with developing infrastructure — prices there are lower now but are likely to rise over time.

Where to Find Affordable Real Estate with Growth Potential in Armenia

If you are looking for affordable real estate in Armenia with growth prospects, consider the following cities and areas:

1. Zovuni

A village in the Kotayk region, located just 700–900 meters from Yerevan, near the Davtashen district. Thanks to active construction and infrastructure development, it is becoming an increasingly attractive location for property investment.

1. Gyumri

The second-largest city in Armenia, rich in cultural heritage and with developing infrastructure. Stable price growth is expected due to investments in city restoration and the expansion of tourism.

1. Artashat

Located 30 kilometers from Yerevan, featuring historical landmarks and well-developed infrastructure. Price growth potential is linked to improved transportation accessibility and regional development.

1. Abovyan

Only 16 kilometers from Yerevan, with a strong industrial base and transportation network. Prices are expected to rise due to increasing demand and limited housing supply.

1. Proshyan

A village located very close to Yerevan, offering more affordable property prices. With infrastructure improvements and better transportation access, Proshyan is becoming an attractive option for investment and living.

1. Kasakh

A settlement near the capital, experiencing growing demand for housing. Infrastructure development and improved transportation links are enhancing Kasakh’s appeal for potential property buyers.

By investing in real estate in these cities, villages, and suburban areas of Yerevan, you not only secure more affordable housing today but also position yourself for potential property value growth in the future, driven by infrastructure development and rising demand.

How to Buy a House with a Mortgage

If you do not have the full amount available, you can take out a mortgage in Armenia.

Almost all major banks offer loans for purchasing private houses — both in cities and rural areas.

Banks Offering Mortgages for Private Houses

If you are planning to buy a private house (not an apartment in a new development), the following banks provide suitable mortgage options, including loans for secondary market properties and individual houses:

1. Acba Bank
2. Ameriabank
3. AraratBank
4. Ardshinbank
5. ArmSwissBank
6. Armeconombank
7. Artsakhbank
8. Byblos Bank Armenia
9. Converse Bank
10. Evocabank
11. Fast Bank
12. IDBank
13. Inecobank
14. Unibank
15. VTB Bank (Armenia)
16. AMIO Bank
17. Mellat Bank
18. Ardshininvestbank

Important:

Conditions vary in terms of interest rates, loan terms, and down payment requirements.

Some of these banks also participate in government-supported mortgage programs.

You can compare bank loan terms in the “Mortgage” section of our platform.

Mortgage Terms for Buying a House in Armenia (2025)

What Government Mortgage Programs Are Available in Armenia in 2025?

As of 2025, Armenia offers 7 targeted government mortgage programs aimed at supporting different categories of the population.

These programs allow you to buy a house with minimal overpayment, benefit from subsidies, and access tax incentives.

Their terms are often more favorable than standard commercial mortgages.

Affordable Housing for Young Families

1. Target Group: Young families where the combined ages of the spouses do not exceed 70 years.
2. Benefits:
3. Interest rate subsidy — up to 7.5% in Yerevan and up to 5.5% in the regions
4. Reduced minimum down payment (starting from 10%)
5. Possibility to insure the missing down payment portion

Program for Military Personnel

1. Target Group: Contracted officers and senior warrant officers.
2. Benefits:
3. Mortgage rate of 5–8% annually
4. The government subsidizes up to 4% of the interest rate and 10% of the down payment
5. Up to AMD 5 million in income tax refunds

For Families from Nagorno-Karabakh

1. Target Group: Displaced persons from Artsakh (Nagorno-Karabakh).
2. Benefits:
3. Certificates for purchasing or building a home
4. Government financing — AMD 5 million (in cities) and AMD 4 million (in villages) per family member
5. Partial coverage of the principal or down payment

For Border Regions

1. Target Group: Families residing or planning to relocate to border villages.
2. Benefits:
3. The government covers up to 100% of the loan interest (resulting in a 0% final interest rate)
4. No down payment required
5. Condition: mandatory minimum 10-year residence

Energy-Efficient Home Renovation Program

1. Target Group: Owners of houses and apartments.
2. Purpose: Housing modernization, insulation upgrades, transition to solar panels, etc.
3. Benefits:
4. Reduced interest rate through subsidies (down to 0%)
5. Maximum loan amount — up to AMD 10 million per house
6. Loan term — up to 7 years

Income Tax Refund on Mortgage Payments

1. Target Group: All officially employed borrowers.
2. Benefits:
3. The government refunds the paid income tax, which can be used to repay interest
4. Applicable for both home purchase and construction
5. Can be combined with other programs

What Government Programs Offer:

1. Reduced mortgage interest rates (down to 0–5% instead of 10–15%)
2. Subsidies for down payments
3. Up to AMD 5 million in tax refunds
4. The opportunity to buy a house without prior savings
5. Additional support upon the birth of a child

Compare government-supported mortgage offers through AFM to avoid overpaying and find the most advantageous conditions.

Banks Offering Mortgages for Townhouses

Townhouses in Armenia are still a niche but developing segment of the real estate market.

After reviewing various bank offers, we found that Ameriabank provides mortgage options for townhouses.

If you are planning to buy a townhouse, it is recommended to start your search with this bank.

Both standard loans and subsidized programs may be available — check current conditions directly.

Top 5 Banks with the Lowest Mortgage Rates

As of April 2025, the following banks offer the lowest effective mortgage rates for houses (not new developments):

For precise calculations, use the mortgage calculator on AFM.

How to Calculate Overpayment and Monthly Payment in 1 Minute

To quickly estimate what monthly payment you can afford, use the mortgage calculator on AFM. It helps you:

1. Calculate monthly payments based on the selected loan amount, term, and interest rate
2. Compare offers from banks and subsidized programs
3. See the full overpayment amount — including interest and loan duration

The advantage of the AFM calculator:

All data is regularly updated, and calculations are based on real effective rates, not just nominal ones.

This helps you avoid mistakes and make the best financial decision. Try it now — it's free and does not require registration.

Can Foreigners Buy a House in Armenia?

Yes, foreigners can buy houses in Armenia, but with certain restrictions.

Rules for Non-Residents:

1. Purchasing a house is allowed;
2. Purchasing land is permitted only through registering a legal entity or via long-term lease;
3. Foreigners are not eligible for participation in government support programs.

How Can a Foreigner Complete a Purchase?

1. Open an account in an Armenian bank
2. Obtain a TIN (Tax Identification Number)
3. Sign a purchase agreement with a notary
4. Register the property with the Cadastre Committee

Which Banks in Armenia Offer Mortgages to Foreigners?

Foreign citizens and members of the diaspora can obtain a mortgage in Armenia, but not all banks work with non-residents.

Below is a list of banks offering mortgage loans to foreigners:

1. Evocabank — Mortgages for purchasing apartments or houses; available even without permanent residency.
2. Ameriabank — Special conditions for the diaspora, including foreign currency loans.
3. Converse Bank — Accepts applications from non-residents with stable income and collateral.
4. VTB Bank (Armenia) — Allows foreign nationals to apply with a guarantor.
5. Acba Bank — Offers mortgages in USD or EUR, provided there is collateral property.

Note:

To apply for a mortgage, you will need to open a bank account, obtain a TIN, and pass a financial assessment.

Most often, a collateral or an initial down payment starting from 10% is also required.

Step-by-Step Guide: How to Buy a House in Armenia

1. Choose the district and type of house
2. Check ownership and land documents
3. Apply for a mortgage if needed
4. Sign a preliminary agreement
5. Finalize the transaction with a notary
6. Register the house with the Cadastre Committee
7. Verify utility connections (gas, water, electricity)

What to Pay Attention to When Buying a House

1. Ownership documents for the property and land
2. Technical condition: foundation, roof, heating system
3. Availability of gas, water, and electricity
4. Access to roads, internet, and schools

Tip:

When buying from a developer, check if they have a partnership with banks — this could offer better mortgage rates and a lower down payment.

FAQ — Frequently Asked Questions

Q: Can foreigners buy a house in Armenia?

A: Yes, foreign citizens can buy houses in Armenia.

Restrictions mainly apply to the land the house is built on. Land ownership is available only to Armenian citizens or legal entities registered in Armenia.

However, a foreigner can lease the land, set up a trust, or purchase the property through a registered company in Armenia.

Important: The house itself can be directly registered in the name of a foreign citizen.

Q: How can I buy a house in Armenia without a credit history?

A: Many banks in Armenia are willing to consider applications even without a credit history, especially if the borrower has a stable income.

To improve your chances of approval:

1. Provide proof of income (employment verification, bank statements, etc.)
2. Offer collateral property
3. Involve a guarantor — particularly useful for young applicants and foreigners
4. Choose a government-supported mortgage program, where requirements may be more flexible

It is also possible to buy a house without a mortgage by using installment plans offered by developers or property owners.

Q: Where is the best place to buy a vacation home in Armenia?

A: Armenia offers many beautiful and peaceful locations perfect for vacation homes or second residences:

1. Dilijan — Known as the "Armenian Switzerland," surrounded by forests, ideal for year-round living
2. Sevan — Lakeside houses with beautiful views and a cool summer climate
3. Jermuk — A resort town famous for its mineral springs and health spas
4. Tsaghkadzor — A popular ski resort with well-developed infrastructure

These areas are in demand among both locals and the diaspora, meaning property values may increase in the future.

Q: Is it possible to buy a house without a down payment?

A: Yes, it is possible — especially through government programs or special bank offers with partner developers.

Options for buying without a down payment:

1. Participation in government programs that subsidize the down payment (e.g., programs for young families or military personnel)
2. Using a second collateral — if you own other property or valuable assets
3. Choosing a house from a developer offering installment plans with no initial payment
4. Working with banks that offer special conditions reducing the down payment to 0–5%

Important:

The smaller the down payment, the higher the interest rate or requirements may be — so be sure to compare all offers through AFM to avoid overpaying in the future.

Conclusion — How to Buy a House in Armenia Profitably

Buying a house in Armenia at an affordable price is absolutely possible if you approach the process thoughtfully.

Start by selecting the right type of property: a private house on the secondary market, a townhouse, or building from scratch.

Choose the location based on your goals:

1. The best real estate in Yerevan offers comfort and developed infrastructure.
2. Houses in the regions offer peace, nature, and significantly lower prices.

For example, in Tavush and Gegharkunik, houses start from AMD 120,000 per square meter, while in Yerevan, prices start from AMD 350,000.

If you need additional financing, you can take out a mortgage in Armenia.

Almost all major banks — from Acba to Evocabank — offer loans for purchasing private houses.

Some banks work with foreigners, others provide access to government support programs.

Compare bank conditions carefully — the difference in effective rates can reach 6–7 percentage points.

For instance, Byblos Bank Armenia offers rates starting from 6.9%, while Ardshinbank starts from 14%.

Government programs are a powerful way to save money.

They are available for young families, military personnel, displaced persons, and residents of border regions.

These programs can offer:

1. Preferential interest rates from 0% to 7.5%
2. Subsidies for down payments
3. Income tax refunds of up to AMD 5 million

Some programs can even be combined for greater benefits.

Don't overlook the details:

Before purchasing, thoroughly check all property documents, verify utility connections, and assess the surrounding infrastructure.

If you are a foreigner, make sure you understand the rules regarding land ownership and obtain a TIN.

To avoid mistakes in your financial planning, use the AFM mortgage calculator — it will show you the exact monthly payment and total loan cost based on current rates.

It’s free and takes less than a minute!