The Rental Market Problem is Indeed Acute: Kerobyan

The government is discussing the "Housing Renovation Program." This program aims to launch a mechanism through which apartments will undergo renovation with subsidized loans, provided that 30% of the renovation costs will be allocated to energy efficiency.

Economy Minister Vahan Kerobyan addressed the rising prices in the rental housing market, which have led many citizens to lose their homes. He stated: "My brother was renting and recently the landlord tripled the rent, saying that there are more attractive offers available for rental and with long-term advance payment. Since the problem in the rental market is indeed acute, I would like to urge our partners to introduce the tools into the housing market as soon as possible so that the supply of rental homes can help curb the high inflation, as a result of which our citizens, who were living in rented accommodations, have found themselves on the streets. This program will help restore the housing market," Kerobyan said.