ArmInfo. In Armenia, the housing stock is replenished annually with 300-400 thousand square meters, but in our expectations, the rates should be at least 10 times higher. RA Minister of Economy Vahan Kerobyan expressed a similar opinion in an interview with the Public Television of Armenia.
"Of course, construction is growing, but how much is it in tune with our requirements?", he said. According to the head of the department, as of today the housing stock of Armenia is about 100 million square meters or 19 thousand multi-apartment buildings, of which more than half need to be renewed. Referring to the government's strategy until 2050, according to which the population of Armenia should grow to 5 million people, Kerobyan noted that by that time the housing stock should grow by 50 million square meters.
"That is, today's construction rates are growing significantly, but they are very far from the dynamics that are necessary in the context of achieving the required level of seismic safety and housing," the head of the department said. In this vein, he stressed that today it is impossible to talk about a "bubble" in the construction sector, on the contrary, it is necessary to significantly accelerate the pace of construction work.
It should be noted that according to the RA Statistical Committee, in January-April 2023, construction work was carried out in Armenia for 94.8 million drams, which exceeded the y-o-y growth rate by 16%.
