18.Jan .2021 13:30

Demand on the Real-Estate to Drop without Subsidy On the Mortgages – Company

Demand on the Real-Estate to Drop without Subsidy On the Mortgages – Company
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Consulting company Cushman & Wakefield Georgia published a report. According to the publication, sales transaction will drop in the real-estate sector from January to February, if the government does not continue subsidizing interest on mortgages into 2021.

Market players of the sector noted that subsidizing interest on mortgages assisted them to overcome the 2020 crisis.

Irakli Gogolashvili, general director of Anagi notes that if the government does not continue support of the real-estate sector, demand will be down on the real estate market.

“If the government does not continue subsidizing interest on mortgages into 2021, that will cause difficulties in the sector in 2021. Demand on the real-estate market will drop and as a result the volume of construction works will be reduced,” said Irakli Gogolishvili, General Director of Anagi Construction Company.