Ameriabank expects a surge in mortgage lending
18.10.2018,
19:20
Armenia’s real estate market is set to revive with mortgage lending expected to surge, Arman Barseghyan, Ameriabank’s Retail Operations Director, said during an on-line press conference today.
YEREVAN, October 18 /ARKA/. Armenia’s real estate market is set to revive with mortgage lending expected to surge, Arman Barseghyan, Ameriabank’s Retail Operations Director, said during an on-line press conference today.
According to him, the country’s real estate market has seen a significant growth over the last months as the number of transactions increased by 25-30% and housing prices in some districts of the capital Yerevan having increased by 10-15%, especially in the primary real estate market.
He said these developments have triggered an increase in the demand for mortgage loans as Ameriabank alone has seen a 20% rise in its mortgage lending portfolio in the first 9 months of this year. ‘This is quite a serious indicator, and the trend continues," Barseghyan said, adding that over the past two years interests on mortgage lending have decreased considerably and lending terms have improved significantly improved.
As an example, he said Ameriabank offers bona fide borrowers the possibility of obtaining a mortgage loan of up to 100% of the collateral amount. When they buy an apartment in new buildings they do not need to make a down payment , while in the secondary market, the down payment varies up to 30%. According to Barseghyan, even a family of 4 people with a net monthly income of 250 thousand drams can afford a mortgage loan today, or receive a minimum mortgage loan.
"We believe that the current level of activity will continue into next year and the real estate market will be quite active," said Barseghyan, adding that high rates of mortgage lending are also expected.
Ameriabank is a dynamically developing bank, one of the largest and most stable financial institutions in Armenia. Today, it is a universal bank that provides the full package of corporate, investment and retail banking services. Ameriabank is a leader in the banking sector of Armenia in terms of all key indicators -assets, liabilities, loan portfolio, net profit and capital. The bank has repeatedly won international financial awards of Euromoney, Global Finance and The Banker. -0-
According to him, the country’s real estate market has seen a significant growth over the last months as the number of transactions increased by 25-30% and housing prices in some districts of the capital Yerevan having increased by 10-15%, especially in the primary real estate market.
He said these developments have triggered an increase in the demand for mortgage loans as Ameriabank alone has seen a 20% rise in its mortgage lending portfolio in the first 9 months of this year. ‘This is quite a serious indicator, and the trend continues," Barseghyan said, adding that over the past two years interests on mortgage lending have decreased considerably and lending terms have improved significantly improved.
As an example, he said Ameriabank offers bona fide borrowers the possibility of obtaining a mortgage loan of up to 100% of the collateral amount. When they buy an apartment in new buildings they do not need to make a down payment , while in the secondary market, the down payment varies up to 30%. According to Barseghyan, even a family of 4 people with a net monthly income of 250 thousand drams can afford a mortgage loan today, or receive a minimum mortgage loan.
"We believe that the current level of activity will continue into next year and the real estate market will be quite active," said Barseghyan, adding that high rates of mortgage lending are also expected.
Ameriabank is a dynamically developing bank, one of the largest and most stable financial institutions in Armenia. Today, it is a universal bank that provides the full package of corporate, investment and retail banking services. Ameriabank is a leader in the banking sector of Armenia in terms of all key indicators -assets, liabilities, loan portfolio, net profit and capital. The bank has repeatedly won international financial awards of Euromoney, Global Finance and The Banker. -0-
