Developer Installment Plans in Yerevan: 4 Projects Compared
By WSE.AM editorial team, edited by Mark Muzyka · Updated 12 October 2026
Installment plans at New Komitas, Gyurjan Cascade, Firdus and HAY VIEW: from 10% down, up to 60 months, no interest. With a monthly payment example.
For a non-resident, getting a mortgage in Armenia is a quest of its own, while a developer installment plan is available to almost everyone and usually comes with no interest. Below we go through the terms of four Yerevan projects we work with directly and calculate what the monthly payment comes to.
How installment plans work with Armenian developers
The scheme is almost always the same and is written as three numbers: the down payment, the share you pay in equal installments while the building is under construction, and the balance due at completion. For example, 10 / 80 / 10 means ten percent up front, eighty during construction and ten when you get the keys.
Three things worth knowing in advance:
- as a rule, there is no interest. The developer needs money for construction and takes it from the buyer instead of a bank
- the installment plan ends together with construction. If the building is completed in two years, you pay over those two years, not ten
- late payment is expensive. Contracts include penalties of around 0.01 percent per day, and after a 90-day delay the developer has the right to terminate the contract
Separately: the income tax refund under Armenian law does not apply to every property. You need to ask about it for the specific building, not the developer.
Four projects and their terms
Data as of October 12, 2026.
The installment plan depends on the building, and this is a rare case where terms differ within one project:
- building A4: 20 percent down, the balance over 40 months
- buildings A3 and A5: 20 percent down, the balance over 36 months
- buildings A2, A6, A7: 30 percent down, the balance over 28 months
- buildings A1, A8, A9, A10: 30 percent down, the balance over 20 months
The logic is simple: the later a building is completed, the longer the installment plan. A4 is due in March 2028, A1 in June 2027. Prices start at AMD 610,000 per square meter, with entry from AMD 27,144,000.
A 10 / 80 / 10 scheme over 60 months, and you can pay monthly or quarterly. This is the longest installment plan of the four and the lowest down payment. There is a second option too: with a 30 / 40 / 30 scheme, the developer lowers the price per square meter by AMD 20,000.
10 percent down, 60 percent in equal payments over 50 months, and 30 percent when construction is completed. It is a premium project with prices in dollars, from $5,719 per square meter.
30 / 60 / 10 with no interest. The highest down payment of the four, but the term is tied to construction, and completion is announced for the first quarter of 2028.
A worked example
Take a 2-room apartment (a living room plus one bedroom) of 65.2 m² in New Komitas for AMD 39,772,000. It is in building A5, where the down payment is 20 percent and the term is 36 months.
- down payment: AMD 7,954,400
- balance: AMD 31,817,600
- monthly payment: about AMD 883,800
The same amount at Gyurjan under the 10 / 80 / 10 scheme over 60 months would look different: AMD 3,977,200 down, AMD 31,817,600 during construction spread over 60 months, which is about AMD 530,300 a month, and AMD 3,977,200 at completion.
The difference in the monthly payment is noticeable, but so are the completion dates: Gyurjan is completed in phases from 2028 to 2030, New Komitas from June 2027 to March 2028.
What to compare besides the down payment
The monthly payment is not the whole story. Look at four things together.
Completion date. A long installment plan usually means a long construction period. You pay the same money but move in later.
What counts as late payment. The contract should state the penalty and the point from which the developer can terminate the contract.
What happens if the building is delayed. A good contract gives the buyer the right to terminate if the delay exceeds a certain period. At New Komitas this is six months.
Whether you can pay early. Sometimes early repayment gets you a discount, and sometimes the payment schedule does not allow it at all.
Installments or a mortgage?
Short answer: installments win on the rate and lose on the term.
A mortgage from an Armenian bank is issued for 10 years or more, the payment is smaller, but there is interest and there are borrower requirements. For a non-resident without a residence permit and local income, approval is harder to get.
An installment plan has no interest, but it must be paid off in two to five years, and the payment ends up three to four times higher than a mortgage payment. Buyers often combine the two: they use the installment plan during construction, and at completion they pay off the balance with a mortgage on the finished apartment, which the bank can already accept as collateral.
For New Komitas, buyers can work with Ardshinbank, ACBA Bank, Ameriabank, IDBank and Evocabank.
Frequently asked questions
Which Yerevan developer offers the longest installment plan? Of the projects on our site, Gyurjan Cascade has the longest: 60 months with a 10 percent down payment. New Komitas offers up to 40 months, Firdus 50 months, and at HAY VIEW the term is tied to the construction period.
Is there interest on developer installment plans? There is no interest in the projects listed. The developer earns by getting the money earlier, not from a rate.
What is the minimum down payment? 10 percent at Gyurjan Cascade and Firdus, 20 percent in some New Komitas buildings, 30 percent at HAY VIEW.
What happens if I miss a payment? Contracts include a penalty of around 0.01 percent per day, capped at 10 percent of the price, and after a 90-day delay the developer gets the right to terminate the contract. Check the exact figures in your own contract.
Can a non-resident get a developer installment plan? Yes, the installment plan is a contract with the developer and does not require bank approval. That is its main advantage over a mortgage for people who have recently moved.
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