Yerevan, March 23 /Mediamax/. In 2006, the volume of mortgage credits, provided in Armenia, grew for 120%, as compared to 2005.

Mediamax reports that Chairman of the Association of mortgage market participants of Armenia Ashot Osipian said this today during the annual meeting of the organization.

According to him, among the achievements, one should note the formation of a standard of mortgage crediting in Armenia. Ashot Osipian stated that the availability of mortgage credits has increased as well. At the same time, he noted, if one compares the correlation of mortgage crediting volumes in Armenia to the GDP of the country with the same correlation in developed countries, the image will not be a very happy one.

Ashot Osipian also noted that the main tasks of the organization today are the increase of the terms of mortgage crediting, the decrease of interest rates and the implementation of mortgage crediting in all the regions of Armenia.