"People". The predicted collapse in the construction industry was not long in coming

"Zhoghovurd" daily writes: "The growth rate of construction has started to slow down. "Zhoghovurd" daily newspaper is informed by RA Statistical Committee that in 2024 in July, construction growth was 17.7%, slowing down by 0.3 percentage points compared to June, and the growth in January-July was 16.1%, accelerating by 0.4 percentage points. The latter is mainly due to the growth of housing construction, but it is noteworthy that the volume of construction carried out at the expense of the population has started to increase, while previously the growth was mainly at the expense of organizations.

In other words, mortgage loans have become an incentive to promote construction. a whole building is built with the money paid by people.

An interesting fact can be recorded that the construction boom, which was followed by the acquisition of apartments under the income tax refund law, has stopped like ice and stops moving forward. Economists note that we can also expect a price drop, which will gradually destabilize the sector.

In the case of housing construction, even zero reductions can lead to financial decline for developers. In other words, there is a supply, the price is low, there is a demand, it rises.

The studies of "Zhoghovurd" daily document that after the repeal of the income tax refund law, it is possible that the sale of apartments will decrease, but the scale may rise again after it starts in the marzes.