(MENAFN- Trend News Agency) BAKU, Azerbaijan, June 2. The National Bank of
Georgia has recommended banks to evaluate the overpricing of rental
housing when issuing loans and assessing rental income, trend reports.
According to the National Bank, the growth in rental prices tops
the long-term tendency by 30 percent.
As for the increase in prices for the sale of real estate, the
National Bank considered it to be in line with inflation in
industrial production and construction costs.
The bank explained the rise in prices by increased demand as a
result of migration to Georgia, and by growing construction
costs.
In 2022, according to official data, 179,800 people migrated to
Georgia, of whom 62,300 are Russian citizens, 54,400 - Georgian
citizens, 20,700 - Ukrainian citizens and 13,400 - Belarusian
citizens.
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