30 New Residential Buildings to Be Constructed in 27 Cities of Armenia Next Year

30 new residential buildings will be constructed in 27 cities across Armenia next year. This was announced today, August 22, by the Chairman of the Urban Development Committee, Vahagn Vermishyan, during a government meeting.

Prime Minister Nikol Pashinyan responded that if this becomes a reality, it would be very good. He stated, “Because we constantly talk about balanced development, but since the income tax return program only operates on the primary market, and there is currently no primary market in the regions, our compatriots in the regions, who receive good salaries, want to take advantage of this opportunity and are buying apartments in Yerevan, even though they do not want to. In other words, they are saying, if this opportunity exists, why not take advantage of it? They probably intend to sell these apartments later and buy an apartment in the region.”

Vermishyan noted that the initiators of these private projects are private companies, most of which have already submitted proposals, while the rest are in discussions: “There are investors.”