BAKU, Azerbaijan, Sept. 21
By Fakhri Vakilov – Trend:
The mortgage portfolio of banks in Uzbekistan reached $3 billion as of September 1, which is 13.4 percent more than at the beginning of the year, Trend reports citing Central Bank of Uzbekistan.
From January to August, loans worth $487.1 million were allocated. The bulk of these funds ($393.4 million) went to the primary market, and the remaining $93.6 million to the secondary market.
The main source of funding for mortgages was the funds of the Ministry of Finance placed in commercial banks ($336.2 million). The mortgage refinancing company allocated $96.4 million, and $57.9 million were channeled by financial institutions from their funds.
Such loans were taken by citizens from 31 to 50 years old (68 percent) within eight months. Less common were those who were between 18 and 30 (26 percent), as well as over 50 (6 percent).
Earlier, the Center for Economic Research and Reforms recorded a surge in activity in the real estate market in August. During this time, 20.6 percent more purchase and sale transactions were concluded than in July.
Experts believe that the reason for the growth was the improvement in the epidemiological situation, mass vaccinations, as well as the end of seasonal vacations.
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