ArmInfo. At the August 27 government meeting, Prime Minister Nikol Pashinyan called on the authorities to quickly launch a renovation program for Armenia's housing stock.
He stated that this program should be launched as quickly as possible, especially since a significant portion of the housing stock is noticeably outdated and in need of renovation. The Prime Minister believes that renovation of old housing should be the solution to the current problem. It is envisaged that developers will be able to demolish outdated buildings and construct new ones, including higher-rise ones, in their place. Owners of apartments in the demolished buildings will receive housing in the new buildings, and the developers will be able to sell the additional space on the market. Pashinyan ordered the development of this program's mechanism to be completed as soon as possible.
Meanwhile, RA Minister of Economy Gevork Papoyan announced that the ministry is finalizing a program to stimulate the construction of aparthotels designed for long-term stays. Such projects, according to Papoyan, will attract investment and increase rental demand not only from Armenian residents and the diaspora, but also from foreign citizens.
