Lot 1




Stone home with 1,820 sqm land – only 10min from Lake Sevan in Armenia!


Please excuse the quality of the photos, taken over a very white Christmas. What you can’t see is the stunning mountain backdrop right behind the house on one side. Looking the other way, you are facing in the direction of Lake Sevan. We have included some summer photos of both the town and immediate surroundings, to compensate and give you a better idea just how magical the setting is.


The property located is served by tarmac road and internet is available.  Electricity and water are both ready on site. Views are over surrounding hills and the property is surrounded by open countryside. The hills are not clearly visible in our photos, once again please excuse the poor quality of images this time. 

 Nearby projects include the already completed highway linking Armenia and Nagorno-Karabakh and mains gas supply to all villages. A perfect new road takes you down to the capital Yerevan and a one way bus or train ticket costs only £1.80!


The property offers a prime vantage point near the shores of Lake Sevan, the second biggest lake in the world relative to altitude. Noah is said to have sailed his arc over lake Sevan, and several visitor sites in the area play tribute to legendary and historic events.


From the 5,000m high (dormant) volcano of Ararat to the shores of the lake; Armenia is now wide open to international property investors. As well as those seeking a new life abroad.


The locality is a sanctuary for the holidaymaker or escape artist alike. Here you will be truly unshackled not only from the UK but the entire EU's clutches.


Sevan is a land steeped in magic, the birthplace of legends recounting Dragons & Giants. Legends still told to children over open fires on the lake shores today. The true stories are equally magic though, a land envied by many conquerors yet one no one could exploit to this day.




Est. 2492 BC - one of the oldest inhabited lands in the world

Population - 3,000,000 in Armenia + est. 7,000,000 diaspora

Religion - 99% Christian - Armenia was the first Christian country in the world

Capital - Yerevan - Ultra chic modern city

Language - Armenian, English is the second language for most under 40's

Climate - Continental, plenty of snow up high for skiing, perfectly sunny most of the year below

Currency - DRAM - £1 is over 750 Dram. Phenomenal value and ultra-low costs for expats. Possibly the lowest cost country in the world, with a western culture.



Armenia gets on swimmingly well and is courted by all the world's superpowers, eyeing up her vast gold reserves. The main exception is Turkey, but then again most of Turkey's neighbours don’t like Turkey either. Bulgaria and Greece being two prime neighbouring examples.

EU? No, thank you! Today Armenia exceeds entry requirements beyond some countries already in the EU! Despite Brussels’ carrot being dangled so many times; Armenia favours friendly trade relations over membership. True independence, freedom to run their own affairs and national identity come first over so called EU benefits.

No EU is better for you many will say, including mega favourable taxes and privacy impossible to find in most of Europe. You can enter without a visa; long term residency is simple for those who wish to move full time. Assuming you're a nice person, you can even take citizenship surprisingly easily, after some time you can get a second passport by becoming an Armenian national.



You likely have a friend who was in Prague or Budapest long before you and everyone else, way back when a beer cost 20p. Believe his tales or not, in Armenia this is the modern reality right here right now.

Absolute bargain every day prices await in a truly European / Western culture. Live just as you do at home for a micro fraction of the price, sometimes thirty times cheaper than in the UK.


ELECTRICITY: Average electric bill for the property, under £2 (yes, two pounds) per month.


PETROL: 65p DIESEL: 59P LPG: 22p Cars are also imported with the tiniest duty, bring yours over or pick up a freshly imported bargain.


Dine Out - Good restaurant - around £2.50 per head - 3 courses & drinks! Go for a swankier restaurant in the capital and your three courses with wine come to around £4! Even the tightest scrooge can splash out here, tips are never expected above 20p.


Drink - Beer & wine are too cheap to mention (pennies). A bottle of top quality Vodka or Cognac costs under £3 and there's much cheaper still for the brave. If you still smoke or want to take up the habit, there's no smoking ban and international brands are under £1 a pack, often as little as 80p.


Council tax: be prepared to shell out £3.50 a year. That’s not a typo, the sum really is three pounds and fifty pence per year.


Banking - very liberal easy to open accounts, ten minutes and your passport are the main requirements. HSBC is here, Procredit and ArmSwissBank are another two choices. Interest rates on savings are up to 12%.


Start a business:

Ranking 41st in the World Index of Economic Freedom, Armenia and business go hand in hand. That's well above EU members: Spain, Portugal, Latvia and Poland to name a few.


Already have a company / business? There's no tax on profit repatriation from abroad (and no enforcement of tax at source either). If you already have an income abroad then Armenia could be a seriously good choice, and remember the 12% interest banks are giving right now.

Viable business activities would involve almost any kind of production. Local labour, parts and materials are very low cost. Internet based businesses can flourish, with fast net readily available and a young tech savvy, English speaking workforce ready in place.



Tourism is surprisingly undeveloped and still very much grassroots. Lake Sevan is the 2nd largest in the world relative to its height, making Switzerland's Lake Geneva look like a mere puddle. Yet, with mile upon mile of unspoiled coastline there are just a handful of hotels. Your property is ideal for a guest house. There simply are no B&Bs yet, be a pioneer and make the first one! 

Boating is virtually unregulated! Jet Ski hire is in demand yet there's but a dozen available in summer. There's still no proper boat tours either and the potential is huge. You can hire a fishing boat to take you around, but a proper cruiser is the sure fire money maker.

The property on auction presents an interesting investment, and a whole range of opportunities, should the new owner wish to take them up. 

Formalities for the transfer of ownership may be completed without travel, using any UK notary. Or by visiting Armenia in person. Legal costs: £500 fully inclusive of every requirement. 



A very bright future is in store for Armenia; whilst property prices remain so low, now is the right time to get in. A worthy addition to your international portfolio, a holiday base abroad or an amazing full time escape. As freehold owner, the choice is yours!

* The description of the above lot by the auctioneer in the language of the auction is the governing description. Any translation using Google Translate is a guide only - its accuracy cannot be guaranteed and it is used at your own risk.
Auction sale details


Ends from

Venue Address

Retford Road Markham Moor Retford Nottingham DN22 0QU United Kingdom
Auctioneer details

Brought to you by:

Midland Asset Management

Important information & T&C's for this Sale

Recently Viewed Lots