The Government of Armenia Resolves One Housing Issue Per Day: Pashinyan

The state support program for ensuring housing affordability for families in border communities has been extended for another year, until December 31, 2025. This decision was made at today's meeting of the Armenian government.

The Minister of Labor and Social Issues, Narek Mkrtchyan, noted that 2,000 beneficiaries will receive subsidization for mortgage interest payments through the program launched in 2022. According to him, already 412 applications have been received from four partner banks, with 239 from Tavush province, 54 from Syunik, 50 from Ararat, 47 from Vayots Dzor, and 22 from Gegharkunik.

To date, banks have provided loans totaling 1.5 billion drams. “Many citizens have received construction permits but have not yet applied to banks; however, they plan to do so in the coming days,” said Mkrtchyan.

According to him, under this program, the state will fully subsidize up to 16 million drams of the principal amount of construction-related mortgages and the accrued interest for a period of up to 10 years at an interest rate of 13%. If a citizen chooses a more expensive apartment, they will be responsible for covering the difference.

Beneficiaries of this program must have land in the given area, be legally married (with their marriage registered), and at least one of the spouses must be an Armenian citizen.

Prime Minister Nikol Pashinyan stated that these conditions should also apply to those forcibly displaced from Nagorno-Karabakh. “The question of land allocation for those forcibly displaced from Nagorno-Karabakh will be discussed, but in general, we need to create mechanisms that make programs accessible to all Armenian citizens, including our sisters and brothers who have been forcibly displaced from Nagorno-Karabakh, with the understanding that they should obtain Armenian citizenship,” Pashinyan noted.

Pashinyan described the results recorded so far under the “State Support Program for Energy Efficient Renovation of Residential Buildings and Individual Homes” as a positive sign, stating that, on average, the Armenian government resolves the housing issue for one family per day.