According to Geostat, in total, 2 134 objects (14,9 percent less compared to the previous year) of 1 694,3 thousand square meters (33,5 percent less compared to the previous year) were completed in 2020.
It should be noted that more than half of the total completed construction are distributed in 4 regions of the country, namely: 27,8 % is located in Tbilisi, 14,6 % - in the Kakheti region, 10,1 % - in the Kvemo Kartli region, and 9,5 % - in Imereti region.
As for the permits, 11% fewer permits were issued in 2020 than the previous year for constructing buildings of 5 206,3 thousand square meters (30,9 percent less compared to the previous year).
77% of the new permits have been issued in 4 regions of the country, namely: 53,5% of the construction works located in Tbilisi, 9,6 % -in the Kvemo Kartli region, 7% - in the Mtskheta-Mtianeti region, and 6,9% in the Imereti region.
In 2020, the Georgian government funded a mortgage subsidy program to stimulate real estate prices. Statistics show that mortgages will be subsidized to a total of 8,443 borrowers under the program. At the same time, the total loan portfolio was 827,949,335 GEL.
Accordingly, the average amount of subsidized loans is 98,063 GEL.
