National Bank Of Georgia Urges To Evaluate Overpricing Of Rental Housing

(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.


Trend News Agency

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