According to Enterprise Georgia, mortgage loans were subsidized to 8,443 borrowers within the frame of the mortgage subsidy program. The total loan portfolio is 827,949,335 GEL.
The average amount of one subsidized loan is 98,063 GEL.
It turns out that the government spent 940,196 GEL on co-financing these loans. Loan guarantees were also issued under the mortgage subsidy program. The guarantee was used by 2,072 borrowers and applied to a loan portfolio of 230 million GEL.
The state subsidizes interest on mortgages:
● The state subsidizes 4 percentage points of the mortgage interest rate;
● The subsidy lasts for 5 years after taking the loan;
● The state terminates the subsidy if the refinancing rate falls below 5% (resumes if exceeds);
● The subsidy was issued for loans not exceeding 200,000 GEL;
● The loan subsidy program was eligible for those, who took a mortgage in the course of 01/06/2020 - 01/01/2021 to buy a newly built apartment.
