TIRANA, Aug 6 /ATA/ During the first half of 2021, the banking sector in the country has disbursed ALL 19 billion or about EUR 155 million in new mortgage for home purchases.
The Bank of Albania announces that the value of new disbursements (mortgages) has increased by 88%, compared to the same period last year.
According to the Bank of Albania, in the first six months of 2021, 60% of the new credit for the purchase of apartments was given in lek, thus reversing the trend of foreign currency-denominated credit.
In recent years, the reduction of interest rates on lek-denominated credit is encouraging lending in local currency.
The Bank of Albania encourages individuals to take credit in the currency of their income, avoiding exchange rate risk. Overall, the interest rates which are at an all-time low are favouring lending for home purchase.
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