YEREVAN, FEBRUARY 24, NOYAN TAPAN. There is a "relative peace" in Armenia's housing market after the March 1 events, and as a result of the global financial crisis. However, as director of Aktsern agency Hakob Baghdasarian said during the February 24 discussion at the Union of Manufacturers and Businessmen of Armenia, more lively activity is expected in this market in the coming months. Speaking about the construction sector's problems caused by the global crisis, director of Elite Group company Armen Mkoyan reminded that construction ensured 35% of Armenian GDP in recent years. However, according to him, this sector also suffered a decline in the past years. "Developers make considerable investments and create many jobs in the country so we expect the state to assist us in getting out of the current situation," A. Mkoyan said. In his words, they expect the state to provide mortgage credits which will help create jobs and develop the sector.

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