The Government of Mongolia and Bank of Mongolia have been implementing an 8 percent interest mortgage lending program since 2013.
The outstanding mortgage debt reached 4.3 trillion MNT in March, an increase of 0.3 percent. In the reported period, 497 individuals were issued mortgage loans worth 49.5 billion MNT, bringing the total number of mortgages to 93099. 69.3 percent of these individuals have monthly household income of up to 2 million MNT.
The average individual mortgage loans amount to 78.3 million MNT. 95.7 percent of the total mortgage loans are performing loans.
The Government of Mongolia and Bank of Mongolia have been implementing an 8 percent interest mortgage lending program since 2013.
The outstanding mortgage debt reached 4.3 trillion MNT in March, an increase of 0.3 percent. In the reported period, 497 individuals were issued mortgage loans worth 49.5 billion MNT, bringing the total number of mortgages to 93099. 69.3 percent of these individuals have monthly household income of up to 2 million MNT.
The average individual mortgage loans amount to 78.3 million MNT. 95.7 percent of the total mortgage loans are performing loans.