CONCESSIONAL LOANS FOR HOUSING TO BE AVAILABLE TO YOUNG FAMILIES FROM LATE FEBRUARY
PanARMENIAN.Net
29.01.2010 17:37 GMT+04:00
/PanARMENIAN.Net/ Affordable housing for young families program was
approved at Jan. 29 meeting of the Armenian government . "With this
decision, the government launched a large-scale program to support
young families, which is a priority in pre-election program of the
president," Arsen Karamyan, Deputy Minister of Sport and Youth Affairs
told a news conference. According to him, provision of young families
with affordable housing will be Government’s priority for the coming
years, while by 2012 issue of affordable credits for the purchase of
cars will be solved.
He also reminded that benefit increases resulted in the birthrate
growth in the country, where in 2009 3000 more children was born in
comparison to 2008," he said.
In turn, Deputy Finance Minister Vartan Aramyan new mechanism will be
offered to alleviate the loan burden for young families. According to
him, instead of operating 14-15 per cent per annum loans young families
will be able receive loans at 8-10 per cent per annum for 10 years.
The gross family income should be around AMD 300-380 thousand, which
include not only revenues of the young members of families, but also
relatives, thereby lending conditions will not seem fantastic, and
the monthly payments will amount to AMD 130-160 thousand.