Shengavit, Yerevan: the south-west with a lake, the metro and a low price per square metre

What do you get when buying in Shengavit?

In short: Shengavit occupies the south-west of Yerevan and is one of the districts where housing in the capital costs noticeably less than average. According to active listings in the WSE.AM catalog on 22 October 2026, the median price here is about $1,833 per square metre (22 listings for sale), the lowest among districts with enough listings, and the median rent is about $941 a month (76 properties). For comparison, a square metre in Kentron costs about $3,667. Unlike Erebuni or Nor Nork, Shengavit has metro stations, which directly affects how easily an apartment can be resold. Its main leisure resource is Yerevan Lake with its promenade and sports grounds.

Figures from our catalog

Active listings in the WSE.AM catalog on 22 October 2026:

• price per square metre: about $1,833 (22 apartments for sale), the lowest among districts with enough listings;
• median sale price: about $127,000;
• median rent: about $941 a month (76 properties), a two-room apartment about $968, a three-room about $1,024.

When comparing districts, look at the price per square metre rather than the price per apartment: the mix of apartment sizes differs from district to district. Current figures for all districts are on the Yerevan apartment prices page.

What the district is like

Yerevan Lake is the largest body of water in the city, a leisure area with a promenade, cafes and sports grounds. For the district, it is the main recreational resource.

Metro. The district is served by the metro, which sets it apart from Erebuni and directly affects how liquid the housing is.

Housing is mixed: Soviet estates, private houses towards the edges and industrial zones. There is new construction too.

History. The district contains the Shengavit settlement, an Early Bronze Age archaeological site and one of the oldest in Armenia.

Who it suits

Buyers who want the most floor space for their budget while keeping access to the metro.

Families who value being close to green space and the lake.

Investors in budget rental housing: a median rent of about $941 at a relatively low entry price gives a decent ratio. How to calculate: investment yield in Yerevan.

What to expect

Uneven quality. As in other outlying districts, the spread between specific addresses is large: from well-kept blocks near the lake to areas next to industrial zones.

The age of the housing. Most buildings are from the Soviet period, with corresponding utilities and common areas.

Distance from the centre in travel time is greater than from Arabkir or Kanaker-Zeytun, although the metro softens this.

What to look at when choosing

• The walk to the metro: the key price factor within the district.
• The distance to the lake and whether there is a view of green space.
• What surrounds the building: an industrial site next door noticeably affects both comfort and resale.
• The type of heating and the condition of the building, which show directly in utility bills.

For a general comparison of districts, see the best districts of Yerevan.

Browse current offers: apartments for rent in Shengavit, new builds for rent in Shengavit and all apartments for sale in Yerevan. We can find you an apartment in Shengavit, taking into account access to the metro and the condition of the building: send a request through apartment search.

Frequently asked questions

How much does an apartment in Shengavit cost in 2026?
According to the WSE.AM catalog on 22 October 2026, the median is about $1,833 per square metre, the lowest among districts with enough listings, and about $127,000 per apartment.

How much does it cost to rent an apartment in Shengavit?
The median rent is about $941 a month according to the WSE.AM catalog on 22 October 2026. With a relatively low entry price, this is a decent ratio for an investor in budget rental housing.

Is there a metro in Shengavit?
Yes, Shengavit is served by the metro, unlike Erebuni, Nor Nork or Avan. The walk to the nearest station is the key price factor within the district.

What should I look at when choosing an apartment in Shengavit?
The walk to the metro, the distance to Yerevan Lake, neighbouring industrial sites, the type of heating and the condition of the building. Most housing is Soviet, and the quality varies a lot between addresses.