In coming 5 years the volume of mortgage crediting in Armenia will
amount to $1.5bln: CB President

Arminfo
2007-03-23 16:55:00

In the coming 3-5 years the volume of mortgage crediting in Armenia
will amount to $1.5bln, the president of the Central Bank of Armeia
Tigran Sargsyan said during the first annual meeting of the
Association of Mortgage Participants of Armenia today.

As of today this index exceeds 25bln AMD. However, this market has
huge development potential. The above index will ensure stable
economic growth in the country.

According to the Agency of Rating Marketing Information (ArmInfo), in
2006 the volume of mortgage crediting in Armenia totalled $72mln
($65mln were issued by commercial banks). 18 banks and 2 credit
organizations issue mortgage credits in Armenia. The interest ranges
within 12%-16%, the maximum repayment period – 10 year, the prepayment
– 30%.