During a conversation with a citizen, Prime Minister Nikol Pashinyan announced the potential resumption of the income tax refund program in Yerevan for mortgage interest payments, with the specific aim of resolving the issue of dilapidated buildings.
New Program to Address Dilapidated Buildings in Yerevan
The Prime Minister stated, “We are currently developing a program where the income tax refund program will operate only in cases where an investor comes, agrees with the residents of dilapidated buildings, acquires the land under their building, constructs a new building there, provides new homes to the residents, and recovers their investments through additional taxes, etc. In that case, we will open the income tax refund for Yerevan.”
Pashinyan expressed confidence that this mechanism would resolve the issue of most dilapidated buildings in Yerevan. He also noted that the program’s launch is not being rushed due to the current saturation of the real estate market in Yerevan. The government plans to wait until the market stabilizes and demand for such projects emerges.
Income Tax Refund Program Currently Active Only in Regions
It is important to recall that the income tax refund program for mortgage interest payments in Yerevan concluded on January 1, 2025, and is currently only active in the regions of Armenia.
Other News from Armenia (March 23, 2026)
- The government will take out a 39 million euro loan to build a Foreign Economic Activity Center.
- AI Conf 2026: Yerevan will once again host leaders in the AI sector.
- Armenia is a partly free country in terms of political rights and civil liberties.
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