Real Estate Market:
Armenia Real Estate Market – By Property Type (Residential, Commercial, Industrial and Land); By Business Type (Sales and Rental); and Regional Analysis of Market Size, Shares & Trends for 2016-2019 and Forecasts to 2030
Real estate is real property that comprises of land and enhancements, which involve buildings, fixtures, roads, structures, and utility systems. Property rights provide a tag of possession to the land, enhancements, and natural resources such as minerals, plants, animals, water, etc. The real estate sector includes the many surfaces of a property, containing growth, evaluation, marketing, selling, renting, and running of commercial, industrial, residential, and agricultural belongings. This sector can waver based on the national and local regions, even though it continues to be fairly steady owing to the point that people always require homes and businesses to require office space.
Armenia real estate market is expected to exceed USD 1,249.3 million by 2030 from USD 880.4 million in 2019 at a CAGR of 4.3% throughout the forecast period i.e. 2020-2030. The market is anticipated to grow on the back of rising government initiatives.
Growth of the real estate market is considered one of the key aspects of steady market economy owing to the high national wealth personified in the real estate, its huge share in the GDP, the facility of high budget revenues, the establishment of new jobs in the market along with the growth of services provided in the market, etc.
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Armenia Real Estate Market: Segments
The Industrial segment to grow with the fastest CAGR of % during 2020-2030
Armenia real estate market is segmented by Property Type into Residential, Commercial, Industrial and Land. Among these, the industrial segment is estimated to hold the largest market share of xx% in 2019. This is primarily based on the setting up of new industries or producing plants in Armenia. For instance, lately in April 2019, a Chinese elevator manufacturer has contracted Memorandum with Armenia to set up a plant in Kotayk Province, with an expected annual production of 2000 – 3000 elevators. Moreover, a new Diamond cutting factory opened in the city of Abovyan in December 2019. Additionally, a new cheese factory in Noragavit was commenced in March 2019. Thus, growth in the number of plants or workshops is projected to raise the demand for industrial spaces in the country.
Armenia Real Estate Market: Market Dynamics
Rising Government Initiatives
The government in the region along with the governments of respective states has begun numerous ingenuities to boost development in the sector. Smart City Project, with a plan to build 100 smart cities, is a prime prospect for real estate companies. To recover hindered housing projects across top cities in the region, the government in the region is granting the building up of a huge amount as an alternative investment fund (AIF). A huge number of houses have been approved in urban areas, inventing a sufficient level of job openings.
Increasing Political Uncertainty
Political uncertainty in the past had a high effect on the real estate sector and the latest reforms in the region had kept on affecting the real estate market on a greater level. Initiatives from the government are usually passed on to raise the accessibility of personal housing spaces and to provide a fair opportunity to the population. But these reforms incline towards limiting the investors and builders from spending or starting a new luxury project.
Armenia Real Estate Market: Key Players
• Ada Tech LLC
o Company Overview
o Business Strategy
o Key Product Offerings
o Financial Performance
o Key Performance Indicators
o Risk Analysis
o Recent Development
o Regional Presence
o SWOT Analysis
• Step Investment Group
• “Akcern” Real Estate Corporation
• Roxwell LLC
• BARS Real Estate Company
• Renshin LLC
• “CHARAGAYT” Construction Company
• MLL Industries LLC
• Comfy LLC
• Elite Group
The market report on Armenia real estate also contains the following in-depth analysis:
• Real Estate Market Segments:
o By Property Type
o By Business Type
• Real Estate Market Dynamics
• Real Estate Market Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies Involved in the Market
• Value Chain of the Market
• Market Drivers and Restraints
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NOTE : Our team is studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.
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