Favorable Conditions to Be Created for Purchasing or Building Real Estate for Displaced Individuals from Artsakh

During its meeting on February 23, the government made amendments to the state support program ensuring housing affordability for families displaced from certain regions of Nagorno-Karabakh.

According to the justification, support is provided to beneficiaries who purchase residential real estate in Armenia or Nagorno-Karabakh with a mortgage loan or receive a mortgage loan for the purpose of building an individual residential house. The assistance exclusively covers the monthly payments (principal and interest) of the mortgage loan.

As of December 30, 2022, a certificate has been issued to 3,293 beneficiaries under the program, out of which approximately 120 beneficiaries have completed or are in the final stages of their mortgage financing process. The purpose of the amendments is to improve the program's conditions, allowing beneficiaries to receive equal support within the program, regardless of the value of the acquired property, and to eliminate any violations of beneficiaries' rights caused by omissions or negligence of any of the bodies mentioned in the relevant government decision.