President of Shen Holding: The current real estate market dictates the need for new ideas – inexpensive “turnkey” apartments

Yerevan. The current real estate market dictates the need for new ideas – inexpensive “turnkey” apartments, President of Shen Holding Samvel Beglaryan told ArmInfo when asked to comment on continuing stagnation in Armenia’s construction sector.

He explains that the market is glutted with high-class apartment houses, built for Diaspora Armenians, but, in his opinion, the age of luxury housing has come to an end, and now it is the time of inexpensive comfortable flats. “However, to build them you need advanced construction technologies and know-how,” he said.

Beglaryan believes that the Armenian Government might stop the growing imbalance on the real estate market by offering people affordable housing opportunities. “They could do it in different ways: they could provide people with either free building plots or long-term mortgage lending options, like, say, a twenty-year low-interest loan,” he said.

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