YOUNG SCIENTISTS IN ARMENIA TO GET AFFORDABLE HOUSING

ArmInfo
2010-05-17 12:48:00

ArmInfo. Construction of a new housing complex for young scientists,
cultural workers and writers will be launched in Yerevan on August 1.

Arsen Karamyan, Deputy Minister of Sport and Youth Affairs of Armenia
told media on Monday that the construction will take 2 years and 2
months. He said that the complex will consist of 300 flats. Young
scientists will get an opportunity to buy the flats on preferential
terms of the mortgage lending: 25% prepayment, 25 years maturity,
and 8.5% annual interest. Considering that 1sq/m of the flats costs
180,000 drams, the monthly payment will total 63,000 drams. The
persons who resumed their scientific activity after army will also
enjoy preferential terms of mortgage: the government will pay 20% of
the flat’s cost. Despite low salary of scientists (40,000-50,000 drams
in average), Mkhitaryan is sure that the program will be in demand.

"We have already received nearly 100 applications from the National
Academy of Science of Armenia," he said.