This year, there were significant changes in the real estate market, Armenian Minister of Economy Vahan Kerobyan wrote on his Facebook.

He noted in particular:

"At the beginning of this year there were 462129 apartments in apartment buildings, of which 70827 (15.32%) were unoccupied in January, and already in August - 62066 (13.43%).

In Yerevan, 28692 (10.77%) out of 266284 apartments were uninhabited in January, in August - 23350 (8.77%).

In Gyumri in January out of 29253 apartments 973 (32.72%) were uninhabited, in August - 9 189 (31.41%).

In Vanadzor in January out of 27175 apartments 7 103 (26,13%) were uninhabited, in August - 6553 (24,11%).

In Abovyan in January out of 14370 apartments 1 619 (11,27%) were uninhabited, in August - 1349 (9,39%).

Let me remind you that the Government has a "renovation program", that is, subsidizing loans for renovation of apartments and houses. The owners of apartments in Yerevan can take loans for renovation with an effective interest rate of about 5%, make repairs and if they want to rent out their homes at a fairly high price. In other cities or villages, loans are available at even lower interest rates."