YEREVAN. - Adoption of a new bill has reinvigorated Armenia’s construction sector, Gagik Galstyan, President of Armenian Union of Builders told Armenian News – NEWS.am.  

According to him, mortgage percentage rate has been subsidized since early 2015 and the purchase of houses takes directly from real estate developers, which has resulted in certain reinvigoration in the construction market. “But regardless of anything, creating is in Armenian blood. Building and maintaining home for children and grandchildren is something dear to all of us,” Galstyan said.

During the first half-year period of 2015, the amount of construction in Armenia’s private sector constituted around 53,3 thousand sq. m. or 0,6% more than during the same period in 2014.