Karapetyan plan for affordable housing aims to support young families, party member says

A member of the Strong Armenia party said a program to build 20,000 affordable apartments with state support could help address housing challenges faced by young people in Armenia.

Harutyun Mnatsakanyan said on Monday the initiative, part of businessman and philanthropist Samvel Karapetyan’s five-step economic plan, would allow young people to redirect money currently spent on rent toward purchasing homes.

“These conditions will allow young people to marry, grow their families and strengthen the country,” he said.

Karapetyan’s plan also includes 300,000 new jobs, zero tax for small businesses, 20% cheaper medicines and guaranteed purchases of agricultural harvests in rural areas.