Buyers of apartments in several Yerevan new-build developments have run into problems that, according to the report, they largely cannot solve on their own. The difficulties often begin with the contract signed with the developer, where technical wording and complex clauses can be hard for non-specialists to assess.
The report says problematic provisions in such agreements may be noticeable only to a specialized lawyer. As a result, buyers may sign documents without fully understanding the risks they are taking on.
Another common issue is construction delays. According to the publication, many developers do not complete buildings within the promised timeframe, leaving buyers who are paying a mortgage while also renting a home to continue covering both costs.
Yerevan City Hall told Azatutyun that it cannot intervene in contractual relations between residents and developers because the municipality is not a party to those agreements. At the same time, the municipality said it tries to help address some issues where possible.
