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New Terms For Affordable Housing For Young Families Program To Be De

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  • New Terms For Affordable Housing For Young Families Program To Be De

    NEW TERMS FOR AFFORDABLE HOUSING FOR YOUNG FAMILIES PROGRAM TO BE DEVELOPED IN 2011

    PanARMENIAN.Net
    July 9, 2010 - 14:14 AMT 09:14 GMT

    On July 9, Armenian Minister of Sport and Youth Affairs Arsen
    Karamyan summarized the results of Affordable Housing for Young
    Families program.

    "84 families have been provided loans to purchase apartments, while
    10 families will join them soon," Karamyan told journalists.

    "The number of beneficiaries will increase in September-December
    2010, thus, our expectations will be met by 97-98%," Karamyan said,
    adding that young families of Shirak, Syunik and Tavush regions will
    be involved in the program.

    "The price for these apartments is twice lower than market prices;
    nevertheless, financial problems may arise. New terms for the program
    are planned to be developed in 2011 - the prepayment may be decreased
    from 30% to 25%. However, we cannot promise anything yet," concluded
    Karamyan.

    Another 1,000 apartments will be provided under the program until 2012.




    From: A. Papazian
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