Newly issued mortgages are down YoY in November, mainly reflecting the impact of the FX volatility and increased number of COVID-19 cases – TBC Capital reported in its recent Tracking the Recovery report.
According to the Investment Bank, the residential real estate shows the following tendency that the newly issued mortgages decreased by 27% YoY in November. Of mortgages issued since 6 th of July, 34.3% are beneficiaries of the state subsidy program, no change compared to last week, and the 7 days moving average YoY growth rate of the transaction registrations in Tbilisi is still in the negative growth territory at -11% as of November 26th.
