Wednesday, May 7 2014 17:12

In Q1 2014 mortgage lending in Armenia grew by 11.5% to 165.1bln AMD


ArmInfo. In Q1 2014 mortgage lending in Armenia grew by 11.5% to 165.1bln AMD. As compared with Q1 2013 the index grew by 1.2%.

According to the Central Bank of Armenia, the share of mortgage loans in all loans issued by banks and credit companies made up 8.3%. About 87.9% of mortgage loans were issued by banks (145.1bln AMD, 1.4% more than in Q4 2013 and 11.3% more than in Q1 2013). Some 12.1% of mortgage loans were issued by credit companies (20bln AMD, 12.9% more than in Q1 2013).

Some 114.7bln AMD was lent for the purchase of real estate (2.2% more than in Q4 2013 and 13.8% more than in Q1 2013), 22.5bln AMD was lent for repairs (1.7% less than in Q4 2013 and 0.9% more than in Q1 2013).
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