YEREVAN, February 5. /ARKA/. At a meeting on Thursday, the Armenian government approved a state mortgage support program for military officers.
The program provides officers with the opportunity to purchase their own apartments or houses with mortgages financed from the state budget.
This targeted program applies to service members who have graduated from military academies and are appointed to officer positions within the Armenian Ministry of Defense or the Border Troops of the National Security Service. The program also covers the purchase of housing in the primary and secondary markets, including multi-apartment and semi-detached houses under construction.
Tthe loan, down payment, principal, and interest on the mortgage will be fully repaid from the state budget. The draft decision sets out the lending terms and program implementation procedures and has been agreed upon with the relevant government agencies.
Ggraduates of military academies assigned to serve in the aforementioned structures will be provided with certificates allowing them to independently select housing. Ownership rights will be granted subject to at least 20 years of service in the relevant agencies.
The certificate amount will be calculated based on the average price of 80 square meters of residential property in Yerevan, which currently stands at approximately 35 million drams. Moreover, housing can be purchased not only in the capital but also in the regions of the country.
The program’s implementation procedure has been modified and simplified: housing will no longer be acquired through a competition announced by the Ministry of Defense. The program applies to service members who entered military academies after 2022. ($1 = 378.26 drams).-0-
