A Unified Real Estate Register will be created in Armenia

Armenia is gearing up for a significant milestone in the real estate sector – the establishment of a Unified Real Estate Registry. Suren Tovmasyan, the Head of the Cadastre Committee, announced this during a press conference on Tuesday. The new registry aims to enhance transparency and efficiency in the real estate market, providing more accurate data on transactions and prices.

"We plan to create a Unified Real Estate Registry. In the future, we will be able to obtain a more realistic picture of the real estate market, and prices will be closer to reality," noted Tovmasyan.

In addition to this, the law on real estate activities has come into force, regulating issues related to buying, selling, and managing real estate. This law establishes a framework for property owners to delegate authority for sales or property management, ensuring clearer rules in Armenia's real estate market.