Georgia reveals number of mortgages issued in the country

(MENAFN- Trend News Agency) BAKOU, Azerbaijan, September 23

Tamilla Mammadova – Trend:

Some 47 preferential mortgages have been granted in Georgia to improve the living conditions of large families or families with newborn babies, Trend reports referring to Georgian media.

17 other mortgage applications under the state program are under consideration.

The state program to subsidize mortgages for large families or families with newborns began in Georgia on September 1, 2021.

It provides a subsidy on accrued interest on mortgages borrowed by large families or families with newborns, single parents or widowed parents for 60 months after the loan is issued. The beneficiary can only participate in this program once, regardless of the amount of the loan taken out.

Currently, the average interest rate on mortgages for individuals in commercial banks in Georgia is 12.5%.

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