Prime Minister of the Republic of Armenia Nikol Pashinyan announced about the program of granting mortgage loans on affordable terms for young families. The Prime Minister of Armenia, through his live broadcast on Facebook, stated that it will continue and will boost the Affordable Housing for Young Families program. "It's great that with the Affordable Housing for Young Families program, we will have 7-7.5% mortgage loans, and we will implement this program in a large scale. We hope that this program will grow every year, "said the Prime Minister.

The prime minister also announced that they would also reduce the amount of mortgage loans prepayment. She explained that in case of young families, the probability of the prepayment will drop from the current 30% to 20%.

The Prime Minister also touched upon the "Affordable Housing for Soldiers" program. He underlined that in this case, the unprecedented low percentage of the mortgage loan will be provided. He noted that military servicemen will receive a non-interest loan. The advance payment for the military will be 10 %.

Referring to the question if a person living on an average salary will be able to keep a child and at the same time get an apartment by taking a mortgage loan, the prime minister replied: "Of course, in this case you need to clarify what you mean by an average salary, but according to experts of the Central Bank, for example, for the apartment worth 20 million drams you will need to pay 100 thousand drams monthly. If we consider the average wage of two family members, for example 450-500 thousand drams, certain opportunities are created. We understand that this is the beginning, and if the program runs successfully in the future, these interest rates and sums will decline somewhat. If we can provide reliable loans through a reliable builder, in this case, I think the program will be a great success. "

Nikol Pashinyan also added that they had set a task to focus construction not only in Yerevan within the above mentioned programs. "This is important because in the case of newly-built apartments, there is also a legislative opportunity for return of income tax. In other words, if the apartment is purchased from a newly built building, besides these privileges, there is also a possibility to close the interest rates by paying the state the income tax. In essence, the state is taking part in the repayment of the loan, and this is a good opportunity. If we add these three components, we will get quite affordable conditions and we'll have pretty good scales for construction. "

The Prime Minister also said that on June 26 he will hold a consultation with the representatives of the Central Bank.

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