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Armenian Government Introduces Amendments to Affordable Apartments for Young Families Program

With the aim of implementing and increasing the effectiveness of the state program Affordable Apartments for Young Families, the Government of Armenia introduced a number of amendments and additions to the N98 decision approved on Jan. 29, 2010. 

As a result of studies, research, and analyses carried out during the preceding stages of this program, the terms of the program have been clarified and mortgage loan borrowing terms were eased for province-based households, according to the RA Government information and public relations department. 

The concept “young single parent” has been defined, lower advance payments were established for province-based households — against additional collateral — and the percentage of the government’s subsidy amount has been increased.