The paper says according to the official information of the State Committee of the Real Estate Cadastre, 162 real estate units have been bought in Armenia by mortgage loan in August 2012, and 872 units in the first 8 months of the year.
The paper says it is quite remarkable as in the first eight months of 2011, the number of mortgage deals reached 413 thousand. It means the number of deals as compared with the past year decreased by 40%.
The paper claims it testifies that the mortgage programs widely advertised on time have completely failed, and in general the real estate market, despite the noisy speeches about economic "success" of the country is not stabilizing and continues collapsing. According to the official statistics relating to real estate market, the prices for apartments in Yerevan have reduced by more than 9 percent.
Monday, October 22, 2012
Haykakan Zhamanak: Number of mortgage deals in Armenia sharply reduces
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