Irakli Burdiladze, managing partner of BK Holding and White Square declares, that the price of real estate will continue to increase. As he said during his visit to TV program "Real Estate Prospect", the main factor in the price surge is the demand from the primary market.
According to the company's predictions, in the condition of current inflation and economic growth, interest rates will decrease, which will grow the availability of mortgage loans.
"If we compare 2023 with 2021, there is an increase of about $300 per square meter, the price has surged from $900 to $1,200. This is a very impressive growth and this trend will continue, maybe not at the same pace, but it will continue.
One of the factors driving demand growth is that household incomes are rising along with economic growth. The fight against inflation is also over, therefore, we expect that interest rates will decrease, which will automatically lead to increased availability of mortgage loans. Increasing access to mortgage loans will lead to an increase in demand again," said Irakli Burdiladze.
