HYPOTHEC CREDIT WILL BE APPLIED IN ARMENIA

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HYPOTHEC CREDIT WILL BE APPLIED IN ARMENIA

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Armenian State Committee of Real Estate together with Swedish “Swedesurvey” Company held a seminar on “Development of Real Estate Cadastre and Improvement of Real Estate Cadastre-Bank System Relation for Hypothec Crediting”.

The aim of the seminar is to introduce the present state of Armenia, to show the experience of the Western countries and to discuss the cooperation between cadastre and hypothec crediting systems in Armenia.

At request of Central Bank citizens were surveyed. “46,7% of those surveyed want to buy flats by hypothec credit. The credits here are short-term, 3-5 years. We don’t yet possess the classic hypothec, which is paid off in 15, 20, 30 years”, Mher Edigaryan, CB head of Department on Bank System Development Research, says.

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HYPOTHEC CREDIT WILL BE APPLIED IN ARMENIA

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