Armenian authorities are preparing a new mechanism for real estate transactions that will allow remote housing purchases without a personal visit to a notary. The innovation will apply to real estate acquired using a mortgage loan.

The new procedure will cover both apartments in under-construction residential complexes and housing in already completed multi-apartment buildings. To complete a transaction, the buyer will no longer need to be personally present for the notarization of documents.

According to Suren Tovmasyan, head of the Cadastre Committee of Armenia, a special module will be integrated into the agency's electronic system. Through it, the buyer, developer, and bank will be able to conclude and certify the contract in digital format. This is expected to accelerate mortgage transactions and make real estate purchases more convenient.