A new wave of arrivals from Russia is changing Yerevan

After Russia announced mobilisation, Armenia received a new wave of arrivals. Most are young men, many working in IT and the creative industries. Russian citizens can enter Armenia with their internal passports and stay without registration for up to 180 days.

Rents in central Yerevan have multiplied over recent months. Estate agents report a shortage of supply, especially of newly renovated flats.

The influx of people and capital is visible in the economy: transfers are growing, and new cafés, co-working spaces and company offices are opening. Local banks record a record number of accounts opened by non-residents.

Experts also point to the downside: local residents feel the price rises, and the long-term consequences of migration are still hard to assess.