Widespread urban-rural exodus and out-migration skewed the per capita housing area in cities: in 1990 this number stood at 12,9 square meters, while in 2000 it grew to 16,0
square meters. Investments in electricity and other sectors, and the introduction of mortgage loans in the early 2000s, reversed the direction of migration. By 2021, the same indicator reached a whopping 29,5 square meters per urban
capita (with Yerevan being the lowest) – putting Armenia on par with other Eastern European and Baltic states. The increase, however, was not due to the rate of housing supply (75% of urban housing was, after all, built between 1950 and 1990), but rather, decreased urban population and proliferation of construction of large single-family houses were the culprit.
The transition to a market-based housing supply created dwelling unaffordability, in line with other developing and developed countries. Now, it is hard to imagine a time spanning half a century, where housing was provided virtually for free, with rent at just 3% of income. The housing unaffordability crisis in developed cities (London, Stockholm, Barcelona, Berlin, Shanghai), today, draws urbanites to unite their efforts and resources around co-living initiatives – a typology that Soviet Constructivists saw as the model of the future.