VIDEO: People Protest Over Absurd Rent Prices

On July 28, citizens staged a protest in front of the Government, voicing their dissatisfaction with the rising costs of rental apartments. They demanded either the implementation of regulations on rental properties or alleviation of mortgage conditions.

“I am a mother of minor children and I cannot find a rental apartment because the prices are exorbitantly high. It has become impossible to find a decent apartment for less than 150,000 drams. Currently, I pay 110,000 drams, but the conditions are terrible. This problem has existed for a long time. Even working in the highest sector, you cannot buy an average-sized apartment,” she stated.

One protester mentioned that if people can pay rent, they would also be able to pay a mortgage. “I have tried to take a house on a mortgage, but the demands are so high. For example, they require a salary of 600,000 drams. I go to the List.am website, search for something around 50,000-60,000 drams, and I end up with a garage,” he added.