Countries that foreign investors don’t often consider are usually some of the best ones to buy real estate. Armenia certainly qualifies as an overlooked property market.

This landlocked nation bridging Asia and Europe probably isn’t the first place you’d think about when purchasing real estate abroad. Yet a combination of low prices and strong growth, along with a recent political shift, bodes well for Armenia’s economic future.

It helps that real estate prices in its capital city of Yerevan are just barely US$1,000 per square meter. That’s considered a global “floor”, thus home values in Armenia have few places left to go besides upwards.

There are plenty of reasons why you should consider investing in Armenia other than the mere fact that it’s cheap though. Let’s discover more about this unusual property market located at the crossroads of Asia.

Why is Armenia Property a Unique Investment?

Corruption has surely been Armenia’s greatest obstacle towards economic development over the past several decades. Rankings including the Ease of Doing Business Index and Corruption Perceptions Index consistently score Armenia as among the lowest in the region.

However, the Velvet Revolution in 2018 and a new administration could lead to some much-needed political reform in the country. Nothing is certain – but Armenians living in the country and outside seem generally positive when asked about their nation’s future prospects.

Armenia’s currency, the Dram, is also showing remarkable resilience. Other currencies in the region including the Turkish Lira and Georgian Lari have collapsed since the start of 2019. But the Armenian Dram is one of the rare currencies which have risen against the US Dollar.

Part of that is due to Armenia’s massive diaspora, many who are returning to their homeland following recent positive sentiment regarding the country’s future. This is noticeably increasing the demand for Armenia’s local currency.

Three million people live in Armenia. However, an estimated 11 million Armenians live outside the country – especially in Russia and the United States.