Residents Displaced from Artsakh Can Apply for Individual Housing Construction Support Starting July 15

Following the approval of the implementation procedure for the government program supporting housing for families forcibly displaced from Artsakh, the application process began on June 15. The Prime Minister's office reports that applications can be submitted online at https://housing.socservice.am/ by eligible beneficiaries who wish to acquire housing or have the right to purchase an apartment in an under-construction building or build an individual residential house. Eligible families include those with three or more underage children, families of deceased persons or individuals who have lost breadwinners, families with members holding disabilities of 1st or 2nd group, families with existing mortgage loans, and other family structures deemed creditworthy and eligible for additional loans of at least 50% of support from banks.

From July 15, our fellow countrymen will have the opportunity to apply for support for individual housing construction, and from August 1, they will be able to apply for support in repaying existing mortgage loans. In response to frequently asked questions regarding family structures and their eligibility for additional loans of at least 50% from banks, an example is provided: If a family consists of four members and they prefer to acquire apartments valued at 5 million drams each in any available area, the total amount of support for the family would be 20 million drams. If a partner financial organization determines, based on the family’s creditworthiness assessment, that the family can receive another loan of at least 10 million drams for repayment purposes, then the family can be included in the first phase of the program, regardless of whether there are three or more underage children or individuals with disabilities.

Within the framework of the first phase of the program, from August 1, our compatriots who have an existing mortgage loan as of May 16, 2024, will also be able to apply. In this case, the assistance for each family member will be 2 million drams, but not exceeding the remaining amount of that mortgage loan at the time of application (except when the property is located or being constructed in the 1st or 2nd zone of Yerevan).

Families who acquire property with a mortgage after May 16, 2024, will not be able to benefit from the program.