Commercial banks' granting mortgage loans in large amounts led to the increase in demand and supply of apartments. The consequent increase in inflation rate created risky conditions for the banks. This has made the banks cease granting such kinds of credits.

For now, the Khan Bank has stopped for a while granting mortgage loans, the Xac and Golomt banks have strengthened the conditions of granting mortgage loans. Citizens, in their turn, were planning to make payments with the mortgage loans. Due to the above decision of the banks, people became unable to move to new apartments they had ordered. Thus they have begun selling these apartments, which has greatly added apartments supply.
The banks, however, confirm that will resume granting mortgage loans when the economic situation stabilizes.

 

Source: Montsame