YEREVAN, September 26. / ARKA /. The Armenian government will build apartments for public servants at affordable prices, Prime Minister Tigran Sargsyan said during a government session today.
He said the construction is expected to kick off in 2014.
"Very often, civil servants can not make the down payment on a mortgage loan, and we are ready to provide state guarantees to ensure that banks do not require it," he explained.
The prime minister noted that the plan will contribute to a significant increase in demand for mortgage loans. He said a working group will be set up to be headed by the chief of government staff Vache Gabrielyan to develop a program for the construction of affordable housing in accordance with the lists of civil servants who want to buy an apartment.
Sargsyan said that the current average price for 1 square meter of housing in Yerevan is about $800.
The prime minister instructed the Yerevan Municipality to find suitable areas that can be given to developers at low prices.
As of July of this year, the average market price per square meter of housing in residential buildings in Yerevan was 272,100 drams, an increase of 0.04 % compared to July last year. At the same time, the average cost per square meter of housing in privately-owned houses in the reporting period amounted to 286,600 from 275,600 drams in July last year. ($ 1 - 405.86 drams). -0-