DURING FIRST SIX MONTHS OF THIS YEAR 3,497 MORTGAGE TRANSACTIONS
CARRIED OUT

YEREVAN, August 13 (Noyan Tapan). During the first six months of 2004
3,497 mortgage transactions were carried out in the RA, which makes
7.6% of the state registrations of rights as regards property.

According to the press service of the State Committee of Realty
Cadastre attached to the RA government, the number of state
registration of rights arising from mortgage transactions increased by
71.6% during the same period, and by 21.8% – during the second half of
2003. It should be noted that 38% of mortgage transactions was carried
out by legal entities. During the first half of the year most of the
mortgage transactions was done with respect to apartment buildings
(41.4%), lands (19.6%), facilities of public importance (19.3%) and
private houses (14.6%). In particular, 1,713 realty transactions were
carried out in Yerevan. A total of 486.27 hectares of lands, including
3.12 hectares in Yerevan were mortgaged in the republic. 475.88
hectares of the mortgaged lands were the land plots of agricultural
importance.

From: Emil Lazarian | Ararat NewsPress