Written By: Jacquelyn Annete García Vadnais
There has been a great deal of development in the Eurasia region when it comes to global real estate investment opportunities. This is particularly true for countries that had challenging conflicts that are just bouncing back. One such country is Armenia, which has made impressive strides towards opening up its economy to more foreign direct investment and creating attractive policies for positive economic growth. Yerevan, in particular, is offering ideal real estate investment opportunities. For real estate investors that are considering whether opportunities in Yerevan, Armenia are an ideal fit for their portfolio, it is wise to review the information below:
History of Armenia
Armenia has a diverse and unique history, which is one of the many reasons it offers a great appeal to so many visitors today. Armenia is actually one of the oldest countries in the world since it has history that dates back at least 3,500 years. The oldest recorded ancestors of modern Armenians were the Hayasa-Azzi tribes that resided in the Armenian Highland in Eastern Anatolia. At the end of 2,000 B.C., a group related to Thracians and Phrygians migrated to the Armenian Highland. The first known Armenian state was formed in eleventh century B.C. and survived until the seventh century B.C. In 782 B.C. Afterwards, Armenia had two additional dynasties, the Artashisian Dynasty and the Arshakunian Dynasty, which lasted until the Arab invasion in the fourth century of the Byzantine Empire. After this period, Armenia would have several other dynasties, which included a substantial period of rule in the Ottoman Empire. The Russian Empire captured Eastern Armenia from Persia in 1828. The region remained in turmoil throughout World War I, and World War II, and it was not until 1991 that Armenia finally achieved its independence and began to grow its economy. Modern day Yerevan is rife with traditional, and modern culinary options, outdoor cafes, museums, beautiful architecture, a mosque, many churches, and two synagogues.
Reasons to Consider Investing in Real Estate in Yerevan, Armenia
Complete Foreign Ownership
In order to make real estate investment more appealing to foreigners, the Armenian government has made an effort to ensure that foreign citizens can have complete ownership of the properties that they purchase there. This is quite important because many countries only allow foreign citizens to own a percentage of property. Providing complete ownership is a major benefit to investors considering purchasing real estate in Armenia.
Residency & Citizenship
Another appealing offer to foreign citizens is that there is a clear path to legal residency and citizenship for those who decide to either own property or to start a company in Armenia. Making it simple to obtain legal permanent residence in Armenia is important because it enables foreign citizens to consider how they can contribute to the growth of the Armenian economy through innovative company ideas or acquiring a large real estate portfolio.
Low Property Taxes & High Rental Yields
Depending on the type of residential real estate investment in Armenia, a tax of .01% to 1% is applied, which is a substantially low rate for foreign real estate investors to take advantage of. Taxation rates will create less barriers to foreign direct investors. In addition, high rental yields have the potential to greatly enhance an investor’s real estate portfolio due to the growth a city such as Yerevan will have in the coming years. Tenants could be local Armenian citizens or expatriates that are staying in Armenia for an extended period of time due to work obligations. Tenants could also stem from the increased tourism that will come from political stability and interest in learning more about Armenia’s unique heritage.
Increased Tourism
One aspect of Armenia that is rapidly changing and developing is the increase in political stability that results in more interest in tourism and foreign direct investment into the country. Armenia undoubtedly has had a troubled past; however, right now the government is stable and considering ways to make their country appealing for foreign direct investment. Yerevan will likely be the target of this development, which will also result in an increased interest in tourism due to Armenia’s unique cultural history to offer visitors. From the tourism boom that will come, there will be many opportunities for foreign investors to have properties to house visitors or commercial spaces to accommodate new business developing in the tourism sector.
Final Remarks
Armenia is absolutely a country to watch in terms of investment opportunities. Even though Armenia only gained its independence thirty years ago, it has accomplished a great deal in a short time. In spite of the fact that at the beginning, the political environment was unstable, now there appears to be a collective sentiment that attracting foreign direct investment into the country is imperative for the country’s future success. The effective policies that the Armenian government has created in recent years make foreign real estate investment far simpler in the country than ever before. The result of this will be to attract new and more lucrative projects to Armenia’s economy, which will absolutely foster additional economic growth. Real estate investors looking to diversify their portfolio in a foreign market should absolutely look at both commercial, industrial, and residential real estate opportunities in Armenia, specifically in the capital city of Yerevan. It will be fascinating to see how Armenia continues to grow and prosper in the years to come, particularly after more foreign investors take advantage of the many investment opportunities that exist in Armenia.
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Jacquelyn Annete Garcia Vadnais is an Investment Consultant and field expert blogger for Barracuda Consulting.
Jacquelyn has a JD/ MBA from Suffolk University, an LL.M in International Law from the University of Miami, and a B.A. from the George Washington University in International Affairs with a Concentration in International Politics. Jacquelyn speaks English, Spanish, French, and Portuguese and has lived in ten countries. Jacquelyn has done work for firms such as Boston Consulting Group and has worked with firms based in over ten countries in the fields of Real Estate, International Law, Expat Living, International Business, Forex Trading, and Travel. She has also volunteered her time and expertise at the Victims Rights Law Center based in Boston, MA.
Please leave your comments below. If you would like to subscribe to our newsletter, click here: https://tinyletter.com/barracuda-consulting. To purchase a full real estate report, or to access a complete suite of investment advisory services please contact us: https://www.barracuda-consulting.net/contact.
There has been a great deal of development in the Eurasia region when it comes to global real estate investment opportunities. This is particularly true for countries that had challenging conflicts that are just bouncing back. One such country is Armenia, which has made impressive strides towards opening up its economy to more foreign direct investment and creating attractive policies for positive economic growth. Yerevan, in particular, is offering ideal real estate investment opportunities. For real estate investors that are considering whether opportunities in Yerevan, Armenia are an ideal fit for their portfolio, it is wise to review the information below:
History of Armenia
Armenia has a diverse and unique history, which is one of the many reasons it offers a great appeal to so many visitors today. Armenia is actually one of the oldest countries in the world since it has history that dates back at least 3,500 years. The oldest recorded ancestors of modern Armenians were the Hayasa-Azzi tribes that resided in the Armenian Highland in Eastern Anatolia. At the end of 2,000 B.C., a group related to Thracians and Phrygians migrated to the Armenian Highland. The first known Armenian state was formed in eleventh century B.C. and survived until the seventh century B.C. In 782 B.C. Afterwards, Armenia had two additional dynasties, the Artashisian Dynasty and the Arshakunian Dynasty, which lasted until the Arab invasion in the fourth century of the Byzantine Empire. After this period, Armenia would have several other dynasties, which included a substantial period of rule in the Ottoman Empire. The Russian Empire captured Eastern Armenia from Persia in 1828. The region remained in turmoil throughout World War I, and World War II, and it was not until 1991 that Armenia finally achieved its independence and began to grow its economy. Modern day Yerevan is rife with traditional, and modern culinary options, outdoor cafes, museums, beautiful architecture, a mosque, many churches, and two synagogues.
Reasons to Consider Investing in Real Estate in Yerevan, Armenia
Complete Foreign Ownership
In order to make real estate investment more appealing to foreigners, the Armenian government has made an effort to ensure that foreign citizens can have complete ownership of the properties that they purchase there. This is quite important because many countries only allow foreign citizens to own a percentage of property. Providing complete ownership is a major benefit to investors considering purchasing real estate in Armenia.
Residency & Citizenship
Another appealing offer to foreign citizens is that there is a clear path to legal residency and citizenship for those who decide to either own property or to start a company in Armenia. Making it simple to obtain legal permanent residence in Armenia is important because it enables foreign citizens to consider how they can contribute to the growth of the Armenian economy through innovative company ideas or acquiring a large real estate portfolio.
Low Property Taxes & High Rental Yields
Depending on the type of residential real estate investment in Armenia, a tax of .01% to 1% is applied, which is a substantially low rate for foreign real estate investors to take advantage of. Taxation rates will create less barriers to foreign direct investors. In addition, high rental yields have the potential to greatly enhance an investor’s real estate portfolio due to the growth a city such as Yerevan will have in the coming years. Tenants could be local Armenian citizens or expatriates that are staying in Armenia for an extended period of time due to work obligations. Tenants could also stem from the increased tourism that will come from political stability and interest in learning more about Armenia’s unique heritage.
Increased Tourism
One aspect of Armenia that is rapidly changing and developing is the increase in political stability that results in more interest in tourism and foreign direct investment into the country. Armenia undoubtedly has had a troubled past; however, right now the government is stable and considering ways to make their country appealing for foreign direct investment. Yerevan will likely be the target of this development, which will also result in an increased interest in tourism due to Armenia’s unique cultural history to offer visitors. From the tourism boom that will come, there will be many opportunities for foreign investors to have properties to house visitors or commercial spaces to accommodate new business developing in the tourism sector.
Final Remarks
Armenia is absolutely a country to watch in terms of investment opportunities. Even though Armenia only gained its independence thirty years ago, it has accomplished a great deal in a short time. In spite of the fact that at the beginning, the political environment was unstable, now there appears to be a collective sentiment that attracting foreign direct investment into the country is imperative for the country’s future success. The effective policies that the Armenian government has created in recent years make foreign real estate investment far simpler in the country than ever before. The result of this will be to attract new and more lucrative projects to Armenia’s economy, which will absolutely foster additional economic growth. Real estate investors looking to diversify their portfolio in a foreign market should absolutely look at both commercial, industrial, and residential real estate opportunities in Armenia, specifically in the capital city of Yerevan. It will be fascinating to see how Armenia continues to grow and prosper in the years to come, particularly after more foreign investors take advantage of the many investment opportunities that exist in Armenia.
--
Jacquelyn Annete Garcia Vadnais is an Investment Consultant and field expert blogger for Barracuda Consulting.
Jacquelyn has a JD/ MBA from Suffolk University, an LL.M in International Law from the University of Miami, and a B.A. from the George Washington University in International Affairs with a Concentration in International Politics. Jacquelyn speaks English, Spanish, French, and Portuguese and has lived in ten countries. Jacquelyn has done work for firms such as Boston Consulting Group and has worked with firms based in over ten countries in the fields of Real Estate, International Law, Expat Living, International Business, Forex Trading, and Travel. She has also volunteered her time and expertise at the Victims Rights Law Center based in Boston, MA.
Please leave your comments below. If you would like to subscribe to our newsletter, click here: https://tinyletter.com/barracuda-consulting. To purchase a full real estate report, or to access a complete suite of investment advisory services please contact us: https://www.barracuda-consulting.net/contact.
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