As regards the current situation in the market of mortgage crediting, Hanesyan pointed out the considerable activation of this market over the fourth quarter. According to his forecasts, the interest rates of mortgage loans will slightly fall in 2010 as against the current 12-15% p.a. According to preliminary data of the National Statistical Service of Armenia, in Jan-Nov 2009 Armenia's GDP fell by 16%, and by 6.6% in November as compared with October.
The data of the Armenian State Committee of Real Estate Cadastre say that in October 2009 the flats in Yerevan apartment buildings grew in price by 2% at the mean up to 260 thsd AMD per sq.m., those in regions - by 1% at the mean. In October the prices of private houses were less subjected to price fluctuations, particularly, in Yerevan the price per sq.m. grew by 0.7%, in the regions - by 0.4%.
To recall, all the 22 commercial banks of Armenia are operating in the mortgage market of Armenia. The total provision of crediting of the banks amounted to $218 mln by 1 Oct 2009.
