Georgia’s real estate sector continues discussions with the National Bank of Georgia (NBG) on further easing mortgage lending regulations. Irakli Burdiladze, managing partner of White Square, said relaxing the rules would increase liquidity in the banking sector and support healthier financing for developers.
According to Burdiladze, pandemic-era restrictions sharply reduced the share of apartment purchases financed through mortgages, making it necessary to encourage lending to individuals. He said that before the pandemic, around 50% of apartment sales at companies he worked with were mortgage-financed, compared with just 5% today.
He argued that easing mortgage rules would create additional liquidity for banks to finance individuals, with the funds ultimately flowing to developers. “The banking sector should finance apartment purchases through mortgages than for developers to offer the ‘exotic installment plans’ we see on the market today,” Burdiladze said.
The NBG eased mortgage lending conditions in February 2025, reducing the minimum down payment for loans issued in Georgian lari from 15% to 10%. The real estate sector is now seeking further regulatory relaxation.
