Armenia sets up online real estate trading platform

The Armenian Cabinet approved a bill on Thursday that aims to enable real estate sellers and buyers to complete transactions online.

Under the new system, sellers and buyers would use the online identification platform to sign contracts, after which registration would be carried out automatically.

The goal of this new method is to simplify and accelerate the procedure.

A pilot program will be tested first and then gradually rolled out. The changes will also apply to contracts involving mortgages, eliminating the need for notarial approval.

“Our plan is to enable people to buy or sell a home without even leaving their home,” said Prime Minister Nikol Pashinyan.

Cadastre officials said they are working to make the platform accessible to users abroad as well.