Discussions between the National Bank of Georgia (NBG) and representatives of the real estate development sector are ongoing, but no significant policy changes have yet been made to simplify mortgage lending, according to Davit Utiashvili, Head of the NBG’s Financial Stability Committee.
"Meetings with the sector are held regularly. We continuously listen to their challenges and assess whether any existing regulations are restricting them. Such discussions are ongoing, and while individual initiatives may be reviewed, at this stage we do not see any major changes that would materially affect the market environment,” Utiashvili said on Real Estate Prospect.
He added that mortgage lending continues to grow by 20–25% annually, which exceeds the growth rate in most other sectors. “Therefore, we do not currently see any problems that would require special intervention by the National Bank,” he noted.
According to Utiashvili, the NBG remains open to addressing minor regulatory issues raised by developers and aims to support the sector’s continued growth. “The development sector is one of the key drivers of Georgia’s economy and a major employer, so it’s in no one’s interest to create unnecessary barriers. However, implementing material changes is not currently on the agenda,” he said.
Last week, Irakli Burdiladze, Managing Partner of White Square, told BM.GE that “positive discussions are underway with the National Bank to facilitate mortgage lending.”
