Armenian Prime Minister Nikol Pashinyan talked about the decision of the government on the solution of housing problems of young families.

The prime minister noted that now, unlike the previous years, the program can also benefit the spouses whose total age does not exceed 70. Previously this number was 65.

For project beneficiaries, the mortgage loan for the purchase of an apartment (residential building) from the secondary market (not directly from the developer) will be provided at a maximum of 9.5%, of which 2% will subsidize the state, which means that the loan interest ratefor buying an apartment for the borrower will be maximum 7.5%, and in regions-5.5%.

"The loan repayment term for new buildings is 30 years, which is an unprecedented term, and 25-year maturity period for those who have purchased new apartments from the secondary market," said Pashinyan.

According to the decision, the citizens who have purchased new apartments get their income tax return back.

"This means that interest-free loans will be available for apartments acquired from the primary market, a 30-year interest-free loan. This is a very good opportunity and people with a higher than average salary will benefit from this. I understand that some people do not have a job, but I have said that work will be encouraged. People have problems with housing, and we will do our best to provide available loans so that they can buy apartments, "Pashinyan said.

The Prime Minister also noted that the way to pay the advance payment of the apartment has changed. Instead of previously paid 30% of the value of the purchased apartment, now the beneficiaries will be able to pay 10% in cash, receiving an insurance guarantee for the remainder of the prepayment.

According to him, at the same time, it is envisaged that the minimum cost of buying an apartment in the newly constructed building can reach 30 million drams and 25 million drams for the purchase of secondary housing.

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