YEREVAN, February 8. /ARKA/. Mortgage loans provided by Armenian banks in 2018 exceeded the figures of the previous year by 20%, Armenian Prime Minister Nikol Pashinyan said today.
“After the velvet revolution (April-May 2018), the banks, in fact, provided as much mortgage loans as for the whole of 2017, while the interest rates are declining,” he wrote on his Facebook page.
At the same time, according to the prime minister, the mortgage lending continues to grow, prompted by a set of government decisions.
He said the amount of mortgage lending provided under ‘Housing for Young Families” government-supported program surged by 41% in November 2018, when compared to November 2017. The growth rate in 2018 December was even higher- 85%. Moreover, in January 2019 it grew by 131% from January 2018. According to Pashinyan, these numbers tell that young citizens connect their future with their homeland.
According to the Central Bank, mortgage lending by Armenian banks in December 2018 amounted to 255.2 billion drams (an increase of 22% compared with December 2017). -0-
