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Volume of mortgage loans doubles says Putin

© RIA NovostiPrime Minister Vladimir Putin
Prime Minister Vladimir Putin - Sputnik International
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The amount of mortgages issued in Russia in the first seven months of 2010 more than doubled year-on-year, Prime Minister Vladimir Putin said at an investment forum on Tuesday.

The amount of mortgages issued in Russia in the first seven months of 2010 more than doubled year-on-year, Prime Minister Vladimir Putin said at an investment forum on Tuesday.

"The volume of issued mortgages from the start of the year has more than doubled - from 82 billion rubles ($2.7 billion) in 2009 to 192 billion rubles ($6.3 billion) in 2010," Putin said at the VTB Capital forum.

He also said the demand for loans was increasing.

"People are ready to invest funds to buy housing," Putin said. "That is why the emphasis of state policies has shifted toward stimulating the housing market."

 

MOSCOW, October 5 (RIA Novosti)

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