On July 9, Armenian Minister of Sport and Youth Affairs Arsen Karamyan summarized the results of Affordable Housing for Young Families program.

“84 families have been provided loans to purchase apartments, while 10 families will join them soon,” Karamyan told journalists.

"The number of beneficiaries will increase in September-December 2010, thus, our expectations will be met by 97-98%," Karamyan said, adding that young families of Shirak, Syunik and Tavush regions will be involved in the program.

"The price for these apartments is twice lower than market prices; nevertheless, financial problems may arise. New terms for the program are planned to be developed in 2011 – the prepayment may be decreased from 30% to 25%. However, we cannot promise anything yet," concluded Karamyan.

Another 1,000 apartments will be provided under the program until 2012.