There are about 266 thousand apartments in the capital Yerevan, of which about 30 thousand were unoccupied at the beginning of the year, but now that number has dropped to 23 thousand; that is, about 7,000 uninhabited apartments have been inhabited. The Minister of Economy of Armenia, Vahan Kerobyan, told this to reporters Thursday.

"At the moment, 23 thousand apartments [in Yerevan] are empty, and we have work to do there. And we are working to bring more and more of these apartments into circulation so that people can rent apartments at a cheaper price. (...). We have loans that are subsidized with which people can renovate their apartments and rent them out; this is a very good and appealing tool," Keropyan said.

In addition, according to the economy minister, they are now creating a new program that should encourage hospitality companies to set up new hotels and hostels.

"One of the reasons for not filling many job openings today is that there are no apartments, hostels with affordable rent in Yerevan. This will enable people from the provinces to come to work in Yerevan," added Kerobyan.