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.