There has been a sharp increase in demand for apartments among Russians in Armenia, primarily in Yerevan, leading to a significant rise in rental prices in the capital, local real estate agents have reported to Verstka.
“The demand is very high,” one agent stated. “In the current conditions of the Yerevan real estate market, prices are simply outrageous.” Another real estate agent noted that in 2024–2025, the main clients in Yerevan were foreigners who were “moving from one apartment to another.” However, now 80% of applicants are people who have either just moved or plan to do so in the near future.
“The demand is enormous, and the overall situation is comparable to that of 2022,” he said. According to the source, rental prices in the Armenian capital have increased by approximately 30% over the past three months.
