Armenia plans to introduce a mechanism whereby the developer will be obliged to pay a fine to the buyer if the deadlines for the completion of the object are violated. This was announced on January 14 by Gegham Gevorkyan, Chairman of the Committee on Competition and Consumer Protection. Legislative changes will also affect advertising: information about the project must fully comply with the actual state of infrastructure and services, including the operation of elevators and garbage disposal.
Gevorkyan noted that in 2025, the commission issued fines in the amount of about 2 billion drams, of which more than 1 billion drams were received in the budget. He stressed the effectiveness of the new rules for agricultural companies: after the changes, farmers were returned 5.2 billion drams for overdue payments.
The new measures are aimed at protecting consumer rights and increasing the transparency of the construction market, guaranteeing buyers the exact observance of the terms and declared conditions of projects.