Notes: (Social snapshot and poverty in Armenia 2008-2010)
Notes: Armenian Minimum Quality Standards for Mortgage Lending were developed under the program “Development of a Sustainable Market for Housing Finance (Phase I) in the Republic of Armenia” sponsored by German KfW bank. The standards are mandatory for partner financial institutions to get refinancing.
Notes: Besides providing cheap funding the Government subsidies interest - 2 pp for loans in Yerevan and 4pp for regions.
Notes: Between 4-6%.
Notes: Depends on property type, cadastral value, etc.
Notes: Draft of law on housing mortgage lending.
Notes: Estimated by Central Bank experts based on market observations. Different institutions practice different ways - some charge a fee as a percentage of loan amount (up to 1%)
Notes: Estimated by Central Bank experts based on market observations. Different institutions practice different ways - some charge a fee as a percentage of loan amount (up to 1%)
Notes: Less than 2%
Notes: Market observations. For apartments appraisal fees are in the range 15000 - 25000AMD. For individual houses the fees are higher and depend on area of the house and land.
Notes: Market observations. For apartments appraisal fees are in the range 15000 - 25000AMD. For individual houses the fees are higher and depend on area of the house and land.
Notes: Market observations. For apartments appraisal fees are in the range 15000 - 25000AMD. For individual houses the fees are higher and depend on area of the house and land.
Notes: Minimum Quality standards for mortgage loans refinancing
Notes: Minimum Quality standards for mortgage loans refinancing
Notes: Minimum Quality standards for mortgage loans refinancing
Notes: Minimum Quality standards for mortgage loans refinancing
Notes: Minimum Quality standards for mortgage loans refinancing
Notes: The UCO acts as a liquidity facility and was created under the state program
Notes: There are no legal barriers on registration and transfer of rights of property. See the Law on State Registration
Notes: There are no published official statistics, however, useful information may be found on commercial banks' web sites.
Notes: There are no published official statistics, however, useful information may be found on commercial banks' web sites.
Notes: There are no published official statistics, however, useful information may be found on commercial banks' web sites.
Notes: There are no published official statistics, however, useful information may be found on commercial banks' web sites.
Notes: There are no published official statistics, however, useful information may be found on commercial banks' web sites.
Notes: There are only a couple of cases of refinancing
Notes: There are only a couple of cases of refinancing
Notes:
Notes:
Notes: "Home for Youth" RCO provides cheap resources for mortgages to young families.
Notes: "Home for Youth" RCO provides cheap resources for mortgages to young families.
Notes: (Credit register is operating within CBA)
Notes: (Social snapshot and poverty in Armenia 2008-2010)
Notes: (Social snapshot and poverty in Armenia 2008-2010)
Notes: UCO provides cheap resources for mortgages to young families.
Notes: 532781 units (apartments and dwelling houses)
Notes: 536390 units (apartments and dwelling houses)
Notes: 542943 units (apartments and dwelling houses)
Notes: 554744 units (apartments and dwelling houses). "Statistical Yearbook of Armenia 2011", pages from 195-196
Notes: 789,701 units (Apartments & Dwelling Houses)
Notes: 819,980 units (Apartments & Dwelling Houses)
Statistical Yearbook of Armenia 2010", pages from 194-195
Notes: 822102 units (Apartments & Dwelling Houses)
National Statistical Yearbook of Armenia 2010", pages from 194-195
Notes: 832,675 units (Apartments & Dwelling Houses)
National Statistical Yearbook of Armenia 2010", pages from 194-195
Notes: 846,001 units (Apartments & Dwelling Houses)
National Statistical Yearbook of Armenia 2011, pages from 195-196
Notes: Armenian Minimum Quality Standards for Mortgage Lending were developed under the program “Development of a Sustainable Market for Housing Finance (Phase I) in the Republic of Armenia” sponsored by German KfW bank. The standards are mandatory for partner financial institutions to get refinancing.
Notes: Armenian Minimum Quality Standards for Mortgage Lending were developed under the program “Development of a Sustainable Market for Housing Finance (Phase I) in the Republic of Armenia” sponsored by German KfW bank. The standards are mandatory for partner financial institutions to get refinancing.
Notes: Armenian Minimum Quality Standards for Mortgage Lending were developed under the program “Development of a Sustainable Market for Housing Finance (Phase I) in the Republic of Armenia” sponsored by German KfW bank. The standards are mandatory for partner financial institutions to get refinancing.
Notes: Armenian Minimum Quality Standards for Mortgage Lending were developed under the program “Development of a Sustainable Market for Housing Finance (Phase I) in the Republic of Armenia” sponsored by German KfW bank. The standards are mandatory for partner financial institutions to get refinancing.
Notes: Based on data of State Committee of the Real Estate Cadastre of Armenia, Calculated % change in actual sales prices.
Notes: Based on median urban new housing price change
Notes: Based on median urban new housing price change
Notes: Based on median urban new housing price change
Notes: Based on median urban new housing price change
Notes: Besides providing cheap funding the Government subsidies interest - 2 pp for loans in Yerevan and 4pp for regions.
Notes: Between $15 - $250 USD. Includes only mortgage origination fee. IMF annual average official exchange rate for 2008 used (AMD 305.97 = 1 USD).
Notes: Between $15 - $250 USD. Includes only mortgage origination fee. IMF annual average official exchange rate for 2009 used (AMD 363.28 = 1 USD).
Notes: Between $15 - $250 USD. Includes only mortgage origination fee. IMF annual average official exchange rate for 2010 used (AMD 373.66 = 1 USD).
Notes: Between $15 - $250 USD. Includes only mortgage origination fee. IMF annual average official exchange rate for 2011 used (AMD 372.76 = 1 USD).
Notes: Between $15 - $250 USD. Includes only mortgage origination fee.
IMF annual average official exchange rate for 2007 used (AMD 342.08 = 1 USD).
Notes: Between 13-14%. Market observations by CBA experts
Notes: Between 3-5%.
Notes: Between 4-6%.
Notes: Between 4-6%.
Notes: Between 4-6%.
Notes: Depends on property type, cadastral value, etc
Notes: Depends on property type, cadastral value, etc
Notes: Depends on property type, cadastral value, etc
Notes: Depends on property type, cadastral value, etc
Notes: Depends on property type, cadastral value, etc.
Notes: Depends on property type, cadastral value, etc.
Notes: Depends on property type, cadastral value, etc.
Notes: Depends on property type, cadastral value, etc.
Notes: Draft of law on housing mortgage lending.
Notes: Draft of law on housing mortgage lending.
Notes: Draft of law on housing mortgage lending.
Notes: Draft of law on housing mortgage lending.
Notes: Estimate using author's 1010 USD = Average price of 1 sq. meter of dwelling houses, 1010 USD x 75 sq. meter (Average Urban Dwelling Size)
Notes: Estimate using author's 554 USD = Average price of 1 sq. meter of dwelling houses, 554 USD x 75 sq. meter (Average Urban Dwelling Size)
Notes: Estimate using author's 710 USD = Average price of 1 sq. meter of dwelling houses, 710 USD x 75 sq. m(Average Urban Dwelling Size)
Notes: Estimate using author's 775 USD = Average price of 1 sq. meter of dwelling houses, 775 USD x 75 sq. meter (Average Urban Dwelling Size)
Notes: Estimate using author's 787 USD = Average price of 1 sq. meter of dwelling houses, 787 USD x 75 sq. meter (Average Urban Dwelling Size)
Notes: Estimated by Central Bank experts based on market observations.
Different institutions practice different ways - some charge a fee as a percentage of loan amount (up to 1%)
Notes: Estimated by Central Bank experts based on market observations. Different institutions practice different ways - some charge a fee as a percentage of loan amount (up to 1%)
Notes: Estimated by Central Bank experts based on market observations. Different institutions practice different ways - some charge a fee as a percentage of loan amount (up to 1%)
Notes: Extremely low due to lack of demand, as the vast majority of the housing stock is owner-occupied.
Notes: Housing resources and public utility of the Republic of Armenia, 2009" page 57
Notes: Housing resources and public utility of the Republic of Armenia, 2009" page 57
Notes: Housing resources and public utility of the Republic of Armenia, 2009" page 57
Notes: IMF annual average official exchange rate for 2009 used (AMD 363.28 = 1 USD).
Notes: IMF annual average official exchange rate for 2010 used (AMD 373.66 = 1 USD).
Notes: In 2 months after default a lender can start foreclosure process.
Notes: In 2 months after default a lender can start foreclosure process.
Notes: In 2 months after default a lender can start foreclosure process.
Notes: In 2 months after default a lender can start foreclosure process.
Notes: In 2 months after default a lender can start foreclosure process.
Notes: In 2 months after default a lender can start foreclosure process.
Notes: In 2 months after default a lender can start foreclosure process.
Notes: In 2 months after default a lender can start foreclosure process.
Notes: In 2 months after default a lender can start foreclosure process.
Notes: In accordance with legislation real estate appraisal have to be done by licensed appraisers.
Notes: In accordance with legislation real estate appraisal have to be done by licensed appraisers.
Notes: In accordance with legislation real estate appraisal have to be done by licensed appraisers.
Notes: In accordance with legislation real estate appraisal have to be done by licensed appraisers.
Notes: In accordance with legislation real estate appraisal have to be done by licensed appraisers.
Notes: In accordance with the Civil Code max rate of loans can not exceed CBA's rate more then twice
Notes: In accordance with the Civil Code max rate of loans can not exceed CBA's rate more then twice.
Notes: In accordance with the Civil Code max rate of loans can not exceed CBA's rate more then twice.
Notes: In accordance with the Civil Code max rate of loans can not exceed CBA's rate more then twice.
Notes: In accordance with the Civil Code max rate of loans can not exceed CBA's rate more then twice.
Notes: In cases when a natural person sells property to a legal entity the transaction is taxed with VAT. In case when a natural person engages in selling property transaction more than once within a year, the transaction is also taxed with VAT
Notes: In cases when a natural person sells property to a legal entity the transaction is taxed with VAT. In case when a natural person engages in selling property transaction more than once within a year, the transaction is also taxed with VAT
Notes: In cases when a natural person sells property to a legal entity the transaction is taxed with VAT. In case when a natural person engages in selling property transaction more than once within a year, the transaction is also taxed with VAT
Notes: In cases when a natural person sells property to a legal entity the transaction is taxed with VAT. In case when a natural person engages in selling property transaction more than once within a year, the transaction is also taxed with VAT
Notes: In cases when a natural person sells property to a legal entity the transaction is taxed with VAT. In case when a natural person engages in selling property transaction more than once within a year, the transaction is also taxed with VAT
Notes: Is regulated by the Law on State registration.
Notes: Is regulated by the Law on State registration.
Notes: Is regulated by the Law on State registration.
Notes: Is regulated by the Law on State registration.
Notes: Is regulated by the Law on State registration.
Notes: Is regulated by the Law on State registration.
Notes: Is regulated by the Law on State registration.
Notes: Is regulated by the Law on State registration.
Notes: Is regulated by the Law on State registration.
Notes: Laws were adopted in 2008
Notes: Laws were adopted in 2008
Notes: Laws were adopted in 2008
Notes: Laws were adopted in 2008
Notes: Laws were adopted in 2008
Notes: Laws were adopted in 2008
Notes: Laws were adopted in 2008
Notes: Less than 2%
Notes: Less than 2%
Notes: Less than 2%
Notes: Less than 2%
Notes: Market observations by CBA experts
Notes: Market observations by CBA experts
Notes: Market observations by CBA experts
Notes: Market observations by CBA experts
Notes: Market observations. For apartments appraisal fees are in the range 15000 - 25000AMD. For individual houses the fees are higher and depend on area of the house and land.
Notes: Market observations. For apartments appraisal fees are in the range 15000 - 25000AMD. For individual houses the fees are higher and depend on area of the house and land.
Notes: Mortgage Lending Minimum Quality Standards - internal document used by National Mortgage Company. Loans to be refinanced by the Company must be originated in compliance with the MQS. See in NMC web site: http://nmc.am/
Notes: National Rate
Notes: No special law. Regulated by Civil Code.
Notes: No special law. Regulated by Civil Code.
Notes: No special law. Regulated by Civil Code.
Notes: No special law. Regulated by Civil Code.
Notes: No special law. Regulated by Civil Code.
Notes: No special law. Regulated by Civil Code.
Notes: No special law. Regulated by Civil Code.
Notes: No special law. Regulated by Civil Code.
Notes: No special law. Regulated by Civil Code.
Notes: Permitted types of mortgages are real estate mortgages and land mortgages (Civil Code).
Notes: Permitted types of mortgages are real estate mortgages and land mortgages (Civil Code).
Notes: Permitted types of mortgages are real estate mortgages and land mortgages (Civil Code).
Notes: Permitted types of mortgages are real estate mortgages and land mortgages (Civil Code).
Notes: Permitted types of mortgages are real estate mortgages and land mortgages (Civil Code).
Notes: Permitted types of mortgages are real estate mortgages and land mortgages (Civil Code).
Notes: Permitted types of mortgages are real estate mortgages and land mortgages (Civil Code).
Notes: Permitted types of mortgages are real estate mortgages and land mortgages (Civil Code).
Notes: Permitted types of mortgages are real estate mortgages and land mortgages (Civil Code).
Notes: Refinancing facility
Notes: The mortgage interest payment is not deductable from the income before taxation.
Notes: The mortgage interest payment is not deductable from the income before taxation.
Notes: The mortgage interest payment is not deductable from the income before taxation.
Notes: The mortgage interest payment is not deductable from the income before taxation.
Notes: The mortgage interest payment is not deductable from the income before taxation.
Notes: The RCO acts as a liquidity facility and was created under the state program Home for Young Families.
Notes: The standards are used by both refinancing window under the KfW Program and National Mortgage Company. The later refinance mortgages which are in compliance with the standards.
Notes: The standards are used by both refinancing window under the KfW Program and National Mortgage Company. The later refinance mortgages which are in compliance with the standards.
Notes: The standards are used by both refinancing window under the KfW Program and National Mortgage Company. The later refinance mortgages which are in compliance with the standards.
Notes: The standards are used by both refinancing window under the KfW Program and National Mortgage Company. The later refinance mortgages which are in compliance with the standards.
Notes: The total area of total housing stock divided by the total number of apartments and dwelling houses. In urban area (Yerevan), average dwelling unit size is 75 square meters (Author's Note)
Notes: The total area of total housing stock divided by the total number of apartments and dwelling houses. In urban area (Yerevan), average dwelling unit size is 75 square meters (Author's Note)
Notes: The total area of total housing stock divided by the total number of apartments and dwelling houses. In urban area (Yerevan), average dwelling unit size is 75 square meters (Author's Note)
Notes: The total area of total housing stock divided by the total number of apartments and dwelling houses. In urban area (Yerevan), average dwelling unit size is 75 square meters (Author's Note)
Notes: The UCO acts as a liquidity facility and was created under the state program
Notes: The UCO acts as a liquidity facility and was created under the state program: Home for Young Families, launched in 2010
Notes: The value is 10,896.2%
Notes: The value is 1884.55%
Notes: There are disclosure requirements for loans generally (since 2009 by regulation act).
Notes: There are disclosure requirements for loans generally (since 2009 by regulation act).
Notes: There are disclosure requirements for loans generally (since 2009 by regulation act).
Notes: There are disclosure requirements for loans generally (since 2009 by regulation act).
Notes: There are disclosure requirements for loans generally(since 2009 by regulation act).
Notes: There are disclosure requirements for loans generally(since 2009 by regulation act).
Notes: There are disclosure requirements for loans generally(since 2009 by regulation act).
Notes: There are no legal barriers on registration and transfer of rights of property. See the Law on State Registration
Notes: There are no legal barriers on registration and transfer of rights of property. See the Law on State Registration
Notes: There are no legal barriers on registration and transfer of rights of property. See the Law on State Registration
Notes: There are no legal barriers on registration and transfer of rights of property. See the Law on State Registration
Notes: There are no legal barriers on registration and transfer of rights of property. See the Law on State Registration
Notes: There are no legal barriers on registration and transfer of rights of property. See the Law on State Registration
Notes: There are no legal barriers on registration and transfer of rights of property. See the Law on State Registration
Notes: There are no legal barriers on registration and transfer of rights of property. See the Law on State Registration
Notes: There are no published official statistics, however, useful information may be found on commercial banks' web sites
Notes: There are no published official statistics, however, useful information may be found on commercial banks' web sites
Notes: There are no published official statistics, however, useful information may be found on commercial banks' web sites
Notes: There are no published official statistics, however, useful information may be found on commercial banks' web sites.
Notes: There are no published official statistics, however, useful information may be found on commercial banks' web sites.
Notes: There are no published official statistics, however, useful information may be found on commercial banks' web sites.
Notes: There are no published official statistics, however, useful information may be found on commercial banks' web sites.
Notes: There are no published official statistics, however, useful information may be found on commercial banks' web sites.
Notes: There are no published official statistics, however, useful information may be found on commercial banks' web sites.
Notes: There are no published official statistics, however, useful information may be found on commercial banks' web sites.
Notes: There are only a couple of cases of refinancing
Notes: There are only a couple of cases of refinancing
Notes: There are only a couple of cases of refinancing
Notes: There is no officially published data about tenure.
Notes: There is no officially published data about tenure.
Notes: There is no officially published data about tenure.
Notes: There is no officially published data about tenure.
Notes: There is no officially published data about tenure.
Notes: There is no officially published data about tenure.
Notes: There is no officially published data about tenure.
Notes: There is no officially published data about tenure.
Notes: There is no officially published data about tenure.
Notes: There is no officially published data about tenure.
Notes: There is no officially published data about tenure.
Notes: There is no officially published data about tenure.
Notes: There is no officially published data about tenure.
Notes: There is no officially published data about tenure.
Notes: There is no officially published data about tenure.
Notes: There is no officially published data about tenure.
Notes: There is no officially published data about tenure.
Notes: There is no officially published data about tenure.
Notes: There is no officially published data about tenure.
Notes: There is no officially published data about tenure.
Notes: There is no officially published data about tenure.
Notes: There is no officially published data about tenure.
Notes: There is no officially published data about tenure.
Notes: There is no officially published data about tenure.
Notes: There is no officially published data about tenure.
Notes: There is no officially published data about tenure.
Notes: There is no officially published data about tenure.
Notes: There is no officially published data about tenure.
Notes: There is no officially published data about tenure.
Notes: There is no officially published data about tenure.
Notes: There is no officially published data about tenure.
Notes: There is no officially published data about tenure.
Notes: There is no officially published data about tenure.
Notes: There is no officially published data about tenure.
Notes: There is no officially published data about tenure.
Notes: There is no officially published data about tenure.
Notes: There is no officially published data about tenure.
Notes: There is no officially published data about tenure.
Notes: There is no officially published data about tenure.
Notes: There is no officially published data about tenure.
Notes: There is no published official statistics, however, useful information may be found on commercial banks' web sites.
Notes: There is no published official statistics, however, useful information may be found on commercial banks' web sites.
Notes: There is no published official statistics, however, useful information may be found on commercial banks' web sites.
Notes: There is no published official statistics, however, useful information may be found on commercial banks' web sites.
Notes: There is no published official statistics, however, useful information may be found on commercial banks' web sites.
Notes: This is an NSS estimate. Only monthly household income per capita exists. Annual household income calculated by Author.
Notes: This is an NSS estimate. Only monthly household income per capita exists. Annual household income calculated by Author.
Notes: This is an NSS estimate. Only monthly household income per capita exists. Annual household income calculated by Author.
Notes: This is an NSS estimate. Only monthly household income per capita exists. Annual household income calculated by Author.
Notes: This is an NSS estimate. Only monthly household income per capita exists. Annual household income calculated by Author.
Notes: This is an NSS estimate. Only monthly urban household income per capita exists. Urban annual household income calculated by Author.
Notes: This is an NSS estimate. Only monthly urban household income per capita exists. Urban annual household income calculated by Author.
Notes: This is an NSS estimate. Only monthly urban household income per capita exists. Urban annual household income calculated by Author.
Notes: This is an NSS estimate. Only monthly urban household income per capita exists. Urban annual household income calculated by Author.
Notes: This is an NSS estimate. Only monthly urban household income per capita exists. Urban annual household income calculated by Author.
Notes: UCO provides cheap resources for mortgages to young families.
Notes: Weighted average rate charged by commercial banks on new loans in domestic currency with maturities of 15 days to less than a year. The rate is weighted by loan amounts
Notes: Weighted average rate charged by commercial banks on new loans in domestic currency with maturities of 15 days to less than a year. The rate is weighted by loan amounts
Notes: Weighted average rate charged by commercial banks on new loans in domestic currency with maturities of 15 days to less than a year. The rate is weighted by loan amounts
Notes: Weighted average rate charged by commercial banks on new loans in domestic currency with maturities of 15 days to less than a year. The rate is weighted by loan amounts
Notes: Weighted average rate charged by commercial banks on new loans in domestic currency with maturities of 15 days to less than a year. The rate is weighted by loan amounts
Notes: Weighted average rate charged by commercial banks on new loans in domestic currency with maturities of 15 days to less than a year. The rate is weighted by loan amounts
Notes: Weighted average rate charged by commercial banks on new loans in domestic currency with maturities of 15 days to less than a year. The rate is weighted by loan amounts
Notes: Weighted average rate charged by commercial banks on new loans in domestic currency with maturities of 15 days to less than a year. The rate is weighted by loan amounts
Notes: Weighted average rate charged by commercial banks on new loans in domestic currency with maturities of 15 days to less than a year. The rate is weighted by loan amounts
Notes: Weighted average rate charged by commercial banks on new loans in domestic currency with maturities of 15 days to less than a year. The rate is weighted by loan amounts
Notes: Weighted average rate charged by commercial banks on new loans in domestic currency with maturities of 15 days to less than a year. The rate is weighted by loan amounts
Notes: Weighted average rate charged by commercial banks on new loans in domestic currency with maturities of 15 days to less than a year. The rate is weighted by loan amounts
Notes: Weighted average rate charged by commercial banks on new loans in domestic currency with maturities of 15 days to less than a year. The rate is weighted by loan amounts
Notes: Weighted average rate charged by commercial banks on new loans in domestic currency with maturities of 15 days to less than a year. The rate is weighted by loan amounts
Notes: Weighted average rate charged by commercial banks on new loans in domestic currency with maturities of 15 days to less than a year. The rate is weighted by loan amounts
Notes: Weighted average rate offered by commercial banks on new deposits in domestic currency with maturities of 15 days to less than a year. The rate is weighted by deposit amounts
Notes: Weighted average rate offered by commercial banks on new deposits in domestic currency with maturities of 15 days to less than a year. The rate is weighted by deposit amounts
Notes: Weighted average rate offered by commercial banks on new deposits in domestic currency with maturities of 15 days to less than a year. The rate is weighted by deposit amounts
Notes: Weighted average rate offered by commercial banks on new deposits in domestic currency with maturities of 15 days to less than a year. The rate is weighted by deposit amounts
Notes: Weighted average rate offered by commercial banks on new deposits in domestic currency with maturities of 15 days to less than a year. The rate is weighted by deposit amounts
Notes: Weighted average rate offered by commercial banks on new deposits in domestic currency with maturities of 15 days to less than a year. The rate is weighted by deposit amounts
Notes: Weighted average rate offered by commercial banks on new deposits in domestic currency with maturities of 15 days to less than a year. The rate is weighted by deposit amounts
Notes: Weighted average rate offered by commercial banks on new deposits in domestic currency with maturities of 15 days to less than a year. The rate is weighted by deposit amounts
Notes: Weighted average rate offered by commercial banks on new deposits in domestic currency with maturities of 15 days to less than a year. The rate is weighted by deposit amounts
Notes: Weighted average rate offered by commercial banks on new deposits in domestic currency with maturities of 15 days to less than a year. The rate is weighted by deposit amounts
Notes: Weighted average rate offered by commercial banks on new deposits in domestic currency with maturities of 15 days to less than a year. The rate is weighted by deposit amounts
Notes: Weighted average rate offered by commercial banks on new deposits in domestic currency with maturities of 15 days to less than a year. The rate is weighted by deposit amounts
Notes: Weighted average rate offered by commercial banks on new deposits in domestic currency with maturities of 15 days to less than a year. The rate is weighted by deposit amounts
Notes: Weighted average rate offered by commercial banks on new deposits in domestic currency with maturities of 15 days to less than a year. The rate is weighted by deposit amounts
Notes: Weighted average rate offered by commercial banks on new deposits in domestic currency with maturities of 15 days to less than a year. The rate is weighted by deposit amounts