Are QP Deputies Buying Homes to Rent to Russians?

According to the daily newspaper “Pasts”, various media outlets regularly publish officials’ declarations from 2021, which are available on the website of the Anti-Corruption Commission. These declarations reveal that many deputies and other officials from the ruling party have acquired new apartments over the past three years, possess substantial bank deposits, and generally have significantly improved their lives since the change of government. However, it appears that the declarations for 2022 might be even more extravagant.

The situation stems from the Russian-Ukrainian war and the sanctions imposed on Russia, leading many representatives from the IT sector in Russia to relocate to Armenia, significantly increasing rental prices as they seek apartments. There are reports suggesting that several deputies from the ruling party have attempted to take advantage of this opportunity. Between April and May 2022, according to “rumors in the air,” nearly three dozen deputies have purchased apartments and private homes, specifically in Yerevan and Dilijan, either in cash or through loans from the well-known oligarch associated with the ruling party.

The acquired properties are reportedly being rented out at high prices to Russians, creating a profitable side business for these deputies. Therefore, if their incomes are not concealed, we could witness the new “successes” of the ruling party in the declarations for 2022, reflecting a trend towards even greater wealth.

For more details, see today’s issue of the newspaper.