Armenia was one of the better-off of the Soviet Bloc nations, and experienced prosperity and growth through the seven decades of Communist rule. With the country’s independence and subsequent instability came an economic downturn, the effects of which are still being felt today. Reforms and privatisation have meant there has been a slow turnaround of fortunes in recent times, and the increasing stability in the region has heralded a relative prosperity for the small nation. The foreign investor market is an area that has experienced growth, especially through Armenian-Americans wanting property in their homeland, and more liberal property laws mean it is easier than ever for a potential off plan investor to pick up land. The turnaround of the Armenian economy has been such that the country is on the cusp of being admitted to the World Trade Organisation – a good sign by anybody’s standards.

As part of a former Communist state, Armenia is prone to the same pitfalls as any other former Soviet country – all land titles should be checked in detail by more than one independent party to ensure legality of ownership, as reclamations can be lost and confused over time.