Shio Khetsuriani, General Director of Archi, says the company expects a 75% increase in sales for the first 11 months of 2025. Speaking on Business Morning, he attributed the growth to an expanded portfolio in the premium segment and a rising share of foreign buyers.
Khetsuriani also commented on the rising use of internal installments, which, according to TBC Capital, now account for 70% of sales in the primary real estate market. Despite growing concern in the sector, he does not consider the mechanism inherently risky.
According to him, Archi’s customer base primarily consists of local residents upgrading to larger or premium properties, as well as migrants and foreign buyers. “Foreign investment makes up 20–22%. Israel stands out in both Batumi and Tbilisi, its share has increased significantly,” he noted.
Khetsuriani confirmed that developers have held several meetings with the National Bank of Georgia (NBG) to discuss increasing access to mortgage loans. Wider mortgage availability, he said, would naturally reduce reliance on internal installment schemes. “Developers use domestic installments frequently. I wouldn’t say they are risky, but it is important for banks to be more involved. This area should be regulated so that the economy, the population, and the development sector are protected.”
For context, TBC Capital reports that 70% of primary market sales now rely on internal installments, leaving a significant portion of lending effectively unmonitored. NBG is currently consulting with banks and business associations on regulatory changes aimed at expanding bank credit access and gradually replacing installment schemes with mortgages.
