Mediamax Agency, Armenia
March 23 2007
In 2006, the volume of the mortgage credits, provided in Armenia,
grew for 120%
Yerevan, March 23 /Mediamax/. In 2006, the volume of mortgage
credits, provided in Armenia, grew for 120%, as compared to 2005.
Mediamax reports that Chairman of the Association of mortgage market
participants of Armenia Ashot Osipian said this today during the
annual meeting of the organization.
According to him, among the achievements, one should note the
formation of a standard of mortgage crediting in Armenia. Ashot
Osipian stated that the availability of mortgage credits has
increased as well. At the same time, he noted, if one compares the
correlation of mortgage crediting volumes in Armenia to the GDP of
the country with the same correlation in developed countries, the
image will not be a very happy one.
Ashot Osipian also noted that the main tasks of the organization
today are the increase of the terms of mortgage crediting, the
decrease of interest rates and the implementation of mortgage
crediting in all the regions of Armenia.