In the Republic of Armenia a in of hypothec rates for real estate is noticed.

The Armenian government has initiated two programs – National Mortgage Company UCO and Affordable Housing for Young Families – to facilitate the mortgage lending. In addition, it has provided state guarantees to construction companies to overcome this difficult period. Thus, some growth has been recorded in mortgage lending since the beginning of this year.

It should be noted that the interest rates considerably decreased in 2009, making 8.5-13% against 16-20% two years ago. Besides, construction volumes in Armenia may increase in the near future, due to economic growth recorded in Russia and Ukraine that will contribute to increase in remittances.