Mortagors gets more under income tax reimbursement program as  compared with 2024 - premier 

ArmInfo. In January-September 2025, 70.2 billion drams in income tax was refunded on interest paid on mortgage loans. This figure already exceeds the figure for the entire previous year (68.7 billion drams). Prime Minister Nikol  Pashinyan wrote this on social media.  Furthermore, he noted, the  figure for January-September 2025 exceeds the 2018 figure by 65.5  billion drams, or 1,399%.

This year, 62,139 citizens are beneficiaries of the program, which is  58,118, or 1,445%, more than the 4,021 beneficiaries in 2018.

As of the end of September 2025, the number of apartments and  residential buildings purchased/under construction under this program  was 46,056, which is 43,517 more than the number of apartments and  residential buildings as of January 1, 2018 (2,539). This figure  increased by 1,714%," he wrote.

As a reminder, approximately 97 billion drams ($252 million) will be  required for income tax refunds to mortgage holders in 2025. This was  announced by State Revenue Committee (SRC) Chairman Eduard Hakobyan  at a government meeting on October 2, during which an additional 12.6  billion drams (approximately $33 million) was allocated for the  program's implementation, in addition to the initially planned 84  billion drams ($218 million). The program has been in effect since  November 2014: citizens who purchase housing on the primary market  with a mortgage loan (apartments in new buildings or new private  homes) receive a tax refund equal to the interest on the mortgage.

While 273 million drams were allocated for income tax refunds in  2015, in 2022 the number of beneficiaries reached 29,199, with the  refund amounting to 36.5 billion drams. In 2023, 38,911 beneficiaries  received 51.9 billion drams. Overall, from 2015 to 2023, 141.1  billion drams were refunded from the state budget to citizens who  took advantage of the income tax refund program. In 2024, this figure  amounted to 68.6 billion drams.

It is worth noting that the gradual abolition of the mortgage income  tax refund system began in Yerevan on July 1, 2022. The process began  in the center of the capital and will be completed by 2025. In early  2024, the Armenian government proposed reducing the maximum income  tax refund to mortgage holders-from the current 1.5 million drams  (per quarter) to no more than 750,000 drams per mortgage transaction,  effective January 1, 2025. Furthermore, the Armenian government plans  to completely abolish income tax refunds for mortgages starting in  2029. The abolition will be gradual. Thus, after January 1, 2027,  income tax on mortgages in the primary market will not be refunded if  the property is located in the regions adjacent to  Yerevan-Aragatsotn, Ararat, Armavir, and Kotayk. From January 1,  2029, tax refunds will also no longer apply to other regions. The  restrictions will not apply to border settlements.