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Mongolia News / Real Estate / May 2, 2016

Mortgage statistics: new 5% rate popular

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According to information from the Bank of Mongolia, 1344 policy holders took 8% mortgage loans valuing MNT 82.3 billion in March 2016. As a result, the total mortgage loans being provided now total MNT 3,563.3 billion with 81,015 policy holders.

Also, in March 2016, mortgages at 5% valuing MNT 11 billion were provided to 252 people. In addition 540 policyholders on the mortgage at 8% valuing MNT 22.3 billion were transferred to 5% rate. It will be recalled that the new 5% mortgage was introduced from 15th March.

At the end of March, annual rate of growth of mortgage loans increased by 3%, comparing to previous month an 18.2% on the same time last year.

SOURCE: news.mn




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