1.6BN DRAMS TO BE ALLOCATED BY APARTMENT PURCHASE CERTIFICATE PROGRAM THIS YEAR

Noyan Tapan
Feb 25, 2008

YEREVAN, FEBRUARY 25, NOYAN TAPAN. 1bn 630m drams (nearly 5.2m USD)
has been allocated by the 2008 state budget by the Apartment Purchase
Certificate program for improving housing conditions of people,
who have remained homeless as a result of the earthquake, as well
as families repressed from Azerbaijan, and those who have suffered
from landslides in rural populated areas. As Vardan Vardanian, the RA
Minister of Urban Development, said after the RA government’s February
22 sitting, as much funds were also allocated by the last year’s
budget, by which 581 certificates were provided and 250 apartments
were bought.

According to the Minister, by the apartment purchase certificate
the people of the above mentioned group can purchase an apartment
at the market price of the given moment. The averaged market cost of
apartments is presented to the Ministry by the State Committee of Land
Survey, once every quarter. For instance, in Gyumri 1 sq.m. apartment
has been valued at present 75 thousand drams and in Yerevan’s Nor
Nork community 130 thousand drams.

V. Vardanian said that 2335 apartment purchase certificates have
been provided since 2005 up to present, by which 1325 families have
purchased apartments.

From: Emil Lazarian | Ararat NewsPress