Georgia reveals number of mortgage loans issued in country
BAKU, Azerbaijan, Sept. 23
Tamilla Mammadova – Trend:
Some 47 preferential mortgage loans have been issued in Georgia to improve the living conditions of large families or families with newborns, Trend reports with reference to the Georgian media.
Another 17 applications for a mortgage loan under the state program are under consideration.
The State program for subsidizing mortgages for large families or families with newborns started in Georgia on September 1, 2021.
It provides a subsidy on interest accrued on mortgages borrowed by large families or families with newborns, single parents, or widowed parents for 60 months after the loan is issued. The recipient can participate in this program only once, regardless of the amount of the loan taken.
Currently, the average interest rate on mortgage loans for individuals in commercial banks in Georgia is 12.5 percent.
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