Those who are just moving to Armenia are asking questions: in which area to rent housing, how much will it cost. Those who already live here are probably wondering how the local real estate market works in general.
We asked the most popular questions to the real estate agency manager White Safe Estate Hasmik Shahzadyan and share the answers.
Contents
Looking for housing
First, let's define the time. How long does it take on average to find and rent an apartment?
On average, searching for housing to rent takes several days. But let's keep in mind that this is very individual, and everything depends specifically on the customer, on his wishes and sometimes mutually exclusive requests.
What, besides mutually exclusive requests from clients, complicates the search for an apartment in Armenia?
Difficulties in finding rental housing in Armenia are associated with several factors, and the most important of them is that, in principle, the geography of the search is limited to several cities. But the amount of real estate is limited. In particular, over the past two years, the flow of relocants and emigrants to Yerevan has sharply increased, and as a result, the balance in the real estate market in the price-quality context has been disrupted.
What was the most difficult housing selection case in your company?
The most difficult case was with the selection of housing for a customer with two cats and a dog. He wanted an apartment with a very good renovation and in the very center of Yerevan! In general, few landlords are willing to provide apartments for residents with animals, especially if they have high-quality finishing.
Photo: Tierra Mallorca
Housing prices
Surely the presence of animals also increases the rent. What does the overall cost of an apartment consist of?
The cost of an apartment initially consists of location, renovation, and technical equipment.
What determines pricing in the real estate market? Are there seasonal changes?
Despite the fact that now (in November) is the off-season, and there is no influx of guests and tourists as usual for Yerevan and Armenia in general, housing prices remain consistently high. Therefore, we have not noticed any significant changes recently.
Is it true that the influx of relocants influenced the setting of high prices?
With the arrival of the relocants, in my opinion, not only housing prices changed, but also life in Armenia in general... But as for real estate prices and especially rental prices, they increased two to three times!
Since such growth is visible, is it then possible to bargain with landlords? Share tips or tricks on how to do this.
You can and should bargain, especially if it is a long-term lease. We realtors usually describe the advantages of this particular customer. When planning a long-term lease, we point out this fact. We say that due to the instability of the country’s market and the world as a whole, having a fixed income for many months is very good.
Photo: Kostiantyn Li
Districts, apartments
Which areas of Yerevan are in greater demand and why?
The areas of Kentron (Center) and Arabkir are in great demand. And if the demand for Kentron is understandable - after all, it is the main district of the city, then with Arabkir it is not very clear. One of the largest avenues in Yerevan, Komitas Avenue, passes through it, there are almost always traffic jams, noisy, etc.
In Arabkir there is the Eraz housing complex, which is very popular among relocants, and therefore there is a great demand for Arabkir, and its prices are consistently high.
In general, Yerevan is a small city, all districts have a fairly developed infrastructure, some have a metro. Davtashen, Avan, Nor Nork, Ajapnyak, Erebuni, Shengavit, and Zeytun are residential areas where there are many parks, shops, kindergartens and schools. These places should not be rejected either.
In which area is it cheaper to rent an apartment, and in which is it more expensive? And what is the average price by area?
The most expensive areas in Yerevan are considered to be the mentioned Arabkir and Kentron. It is cheaper to rent housing in Shengavit and Malatia-Sebastia. In Arabkir, a two- or three-room apartment with a modern renovation and with household appliances costs from 350,000 drams, in Kentron - from 450,000 drams, and in residential areas - from 250,000 drams.
Is it possible to say in which building it is better to rent an apartment: a new building, a Soviet one, or maybe it is better to rent a house right away?
It’s impossible to say for sure: take it there, but not there. It all depends on the customer's budget. It is clear that apartments in new buildings cost almost twice as much as in Soviet houses. They are built using new technologies, and the repairs are initially good.
As for private houses, everything there is also strictly individual. Depends on the number of residents and budget. If there are a lot of tenants and the budget allows, then why not take a house.
Visitors are surprised that in Armenia there are apartments built on the top or first floor, in a garage. How legal is it to rent and live in such a place?
As for superstructures and garages, our agency has never had a case where we rented out such housing. And our customers were not looking for apartments in the wrong location.
We conclude a contract for residential premises and require a certificate of ownership from the landlord. With this cadastral document, the question of the legality of the premises disappears. So always ask for documents.
Are the average Armenian and Russian apartments different? For example, I noticed that here balconies are often turned into extensions of rooms.
In Armenia, as in Russia, the majority of residential buildings are from the Soviet period, so their layouts are very similar. Yes, the premises are enlarged due to balconies and other elements, but they do not interfere with renting. If the customer agrees and accepts the owner’s conditions, then legally there will be no problems when all changes are carried out through the cadastral commission. This is also monitored by realtors.
What is a typical request from a client?
A typical request is a two-room apartment, newly renovated, with constant cold and hot water, close to the metro or the center; an open balcony is also considered an advantage. And, accordingly, if there are children, there are kindergartens, schools, and playgrounds nearby. A microwave and dishwasher are also highly requested.
On your website it is said that you are selecting luxury real estate. What is included in this concept, what real estate in Yerevan is considered elite?
Yes, we select luxury housing for our customers. These are apartments in new buildings in the center of Yerevan with an area of 90 m², with new and expensive renovations and full technical equipment. Household appliances are installed inside the premises: dishwasher, dryer, etc. And outside there is an audio and video system, 24-hour security.
Renting premises is a responsible matter. What nuances indicate that the apartment is not worth taking?
An important criterion for refusing to rent an apartment may be the lack of documents on property rights. Or if the owner is abroad and it is inconvenient for him to sign the contract remotely. Or if water or electrical communications do not work very well in the apartment. Since we remain in touch throughout the entire term of the contract with both the owner and the customer, we have already identified a number of similar problems.
Speaking of owners. What indicates a bad apartment owner with whom there may be problems?
I can’t say what’s bad... Rather, it’s complicated and difficult to compromise with. This is an owner who, already at the stage of initial negotiations, puts forward mutually exclusive demands, is disloyal to the customer in terms of guests and does not want to add anything to the apartment that the tenants are asking for (missing furniture or appliances, etc.).
Photo: wirestock
Realtors and contracts
Why is it better to contact an agency and realtors, rather than look for housing yourself?
The most important reason not to look for an apartment yourself, but to contact an agency, is, perhaps, one hundred percent avoidance of fraud. The real estate market, like any other market, is fraught with many risks and filled with criminals.
Our clients told many stories about how, before coming to us, they encountered scammers who rented out apartments that did not belong to them. Or tenants found themselves in very unpleasant situations when they rented an apartment for six months with a deposit paid, and then it turned out that this same apartment was rented out daily by a third party.
And as an addition to this, I will say that our team has a professional lawyer with extensive experience in the field of real estate. He prepared very competent contracts for all cases that may occur in the field of rental and purchase and sale of housing. Thus, cooperation with us is a guarantee of transaction security for both the owner and the customer.
Already at the stage of creating our database of apartments, we weed out everything that raises doubts and may be associated with risks in the future. All apartments in our database have been checked for documents of copyright holders and for technical equipment and serviceability.
Indeed, legal support is a big plus of working with a realtor. What must be included in the lease agreement? What may tenants not know and not include in the contract?
The rental agreement spells out all the details, from the date and number of visits by the owner to early termination and the costs associated with it.
Upon arrival, it is advisable to take photos and videos of the property to record its original condition. This will help avoid conflicts when the contract ends and the deposit is returned. This practice, unfortunately, is not yet very widespread, but I think it should be included in the main lease agreement, thereby insuring both parties from possible conflicts.
And only after reading and discussing all the nuances is the contract signed by both parties.
By the way, about fraud. Now there are many groups on Telegram with housing offers. Is there a way to check which ones can be trusted?
Yes, there are a lot of groups on Telegram today that deal with real estate. Unfortunately, it is not easy to check them and identify unscrupulous ones. I think that since Telegram is a relatively new platform for this business, over time everyone who works poorly or of poor quality will be eliminated through natural selection. Especially in Armenia, where the market is small and everyone knows or recognizes each other one way or another.
Recommendations are very important in our business, and I would like to proudly note that for several months now the main stream of our clients are people who came to us through recommendations. Therefore, I can advise you to find out about good agencies and realtors through your friends.
What is a good realtor? How should a professional behave in your business?
Firstly, a realtor must be responsible, loving and respectful of his work! Secondly, he must be competent both in the legal aspect and in the field of communications and marketing. The key to the success of our work is almost daily monitoring of the market, communication with owners, and the ability to correctly and quickly answer complex questions related to the laws and rules of renting and buying and selling real estate. Thirdly, a good realtor is an excellent negotiator; he must be sociable, stress-resistant and ready to compromise in the name of the interests of both parties.
We hope that this interview helped you better understand the real estate market in Armenia and the work of realtors. And if you need professional help, you can contact the agency White Safe Estate.
More useful articles:
- Top 5 Ways to Rent a House in Armenia
- How to draw up a rental agreement for housing in Armenia?
- How to pay utility bills in Armenia
- Guide to the districts of Yerevan
- What to pay attention to when renting an apartment in Yerevan?
- Guide to the districts of Gyumri
- How to buy real estate in Armenia for a citizen of the Russian Federation?
- What to look for when buying an apartment in Armenia: 3 checklists
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