Possible 0% APR on mortgages
Friday, October 7, 2005, 02:09
Despite analysts reiterating stagnation and developers complaining about the lack of demand in the real-estate market, construction does not seem to stop or even to slow down: architects are already overloaded with work and there are even more work ahead of them as several new investments are soon to come, explained Ferenc Molnár, business unit manager of Raiffeisen Real-Estate Rt. Unnamed American analysts have already called to our attention about 10-15 years ago, that the real-estate market in Europe is not well balanced. As a result, in a short period of time, the banks may drop their APR of the mortgage loan down to as low as 0%. This speculation is underpinned by the recent changes in mortgage requirements already in place that would have been impossible earlier: banks always asked for a down payment for the property - now they are willing to give a loan for almost any real-estate with no down payment. (NV 5) E.C.