The short answer
Most new-build apartments in Armenia are sold before they are finished. A promised delivery date is the developer’s estimate, not a guarantee. Judge it by how far construction has actually got, by what the developer has delivered before, and by what the contract says happens if the date is missed. Then pay in a way that limits how much you have at risk.
What the stages on this site mean
Every project page shows one of these stages, taken from the developer’s own website or public listings:
| Stage | What it means |
|---|---|
| Ready to move in | The building is finished. |
| Under construction | Work is well under way. |
| Construction started | Early works have begun. |
| Planned | Construction has not started. |
| Stage not stated | We could not establish the stage. |
Where a project page shows a “percent built” figure, it is the figure published by the developer or the listing, not our own inspection. Our About page explains where the data comes from and how often we refresh it.
Why delivery dates slip
Delivery dates typically move because of financing, permits, material and labor costs, or design changes. This is not only theory: in its 2025 review of the housing market, Armenia’s Competition and Consumer Protection Commission found delayed handovers, advertised infrastructure that was never built, and problems with building maintenance.
We do not publish delay statistics, because we have not found a reliable public source for them. As a rule of thumb, a date three years away carries more uncertainty than one for a building whose frame is already up.
Checks before you pay a deposit
- The construction permit. Ask for a copy and check that the address, number of floors and developer name match the project you are buying into. Permits are issued by the local municipality.
- The land. Ask who owns the plot and whether it is pledged to a bank. A unified certificate from the Cadastre Committee shows the registered owner and any pledge or restriction; as of October 2026 the government portal lists the standard certificate at AMD 10,000, in up to 3 working days.
- The contract. Read what it says about the delivery date, how late counts as late, penalties, and your right to cancel and get your money back. Ask a lawyer to read this part.
- The site. Visit, or ask for a live video call from the site and dated photos, and compare them with the stage the developer claims.
- The track record. Look at buildings the developer has already handed over. Compare their projects and stages on our developers page.
Payment schedules
Contracts commonly tie payments to construction milestones, or offer a discount for paying in full up front. A smaller up-front share leaves less of your money exposed if work stops; a full payment may buy a lower price. Which trade-off suits you is your call, but make it knowingly.
As of October 2026 we found no general legal requirement for developers to hold buyers’ money in escrow or to insure it. The consumer-protection regulator has proposed insurance, bank guarantees or frozen developer accounts to protect buyers’ payments, but in April 2026 these proposals were still under discussion. Until something is adopted, your protection is the contract and the developer’s finances.
Tip Pay only by bank transfer to the developer’s company account named in the contract, and keep every receipt. See paying from the US.
If a project stalls
Stalled projects do happen. What you can recover depends on your contract, Armenian civil law and the developer’s finances, which is why the contract review in step 3 matters more than any other check. Keep copies of the contract, the permit and every payment receipt, and keep your contact details with the developer up to date.
Buying a finished apartment instead
If the risk worries you, look for projects marked “Ready to move in”. Prices and choice differ, but you can see the apartment before you pay and register it once the sale is signed. Compare both on new builds in Yerevan.
Using our data
Use the stage and delivery date on each project page as a starting point, then confirm both with the developer in writing before you pay. Related reading: can a non-resident buy and taxes and fees.
