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DEMAND FOR LUXURY APARTMENTS DECREASED - ARMENIAN PM
September 26, 2013 | 11:35
YEREVAN. - There are disturbing developments in Armenia's construction
sector: 8.5-percent drop in eight months.
Prime Minister Tigran Sargsyan stated the aforesaid during Thursday's
Cabinet meeting.
As per Sargsyan, the primary reason is the reduction in the demand
for luxury apartments. Instead, there is a demand for economy class
apartments, but the respective offer is not much.
To invigorate the construction sector in Armenia, the government
plans to promote the construction of economy class apartments.
With the first respective step, legislative changes are proposed,
pursuant to which if foreign nationals purchase an apartment in
Armenia, they will quickly be issued a certificate of residence,
and therefore they will have no difficulty entering the country.
Subsequently, the government will promote the civil servants'
purchasing of apartments with mortgage loans.
In addition, Tigran Sargsyan asked Yerevan Municipality to allocate
suitable areas for developers, so that the cost price of the apartments
to be built would be low.
News from Armenia - NEWS.am
From: Baghdasarian
September 26, 2013 | 11:35
YEREVAN. - There are disturbing developments in Armenia's construction
sector: 8.5-percent drop in eight months.
Prime Minister Tigran Sargsyan stated the aforesaid during Thursday's
Cabinet meeting.
As per Sargsyan, the primary reason is the reduction in the demand
for luxury apartments. Instead, there is a demand for economy class
apartments, but the respective offer is not much.
To invigorate the construction sector in Armenia, the government
plans to promote the construction of economy class apartments.
With the first respective step, legislative changes are proposed,
pursuant to which if foreign nationals purchase an apartment in
Armenia, they will quickly be issued a certificate of residence,
and therefore they will have no difficulty entering the country.
Subsequently, the government will promote the civil servants'
purchasing of apartments with mortgage loans.
In addition, Tigran Sargsyan asked Yerevan Municipality to allocate
suitable areas for developers, so that the cost price of the apartments
to be built would be low.
News from Armenia - NEWS.am
From: Baghdasarian