In the context of real estate deflation, mortgage lending in Armenia is gaining momentum.

According to the Banks of Armenia Financial Ratings, the mortgage lending of banks has increased by 14.4% to 215.2 billion drams or $ 444.5 million. At the same time, interest rates on mortgage loans in 2017 decreased from 12.2% to 10.6%. The average market value of apartments dropped by 2.8% in the previous year.

All 17 banks in Armenia work in the mortgage market, 10 of which besides mortgages provide energy-efficient "green" loans for the purchase / construction / renovation of the apartment. These are Ardshinbank, Converse Bank, Araratbank, Armbusinessbank, ACBA-Credit Agricole Bank, Inecobank, Armswissbank, Anelik Bank, Armeconombank and Unibank.

The refinancing of these loans is carried out by the National Mortgage Company within the "Affordable Housing for Youth" Program. The annual interest rate for energy efficient mortgage loans varies between 11-13% and the repayment period is 10-20 years.