Იპოთეკა Calculator Georgia

Market overview

Georgia's banking sector is highly consolidated under TBC Bank, Bank of Georgia (BOG), and Liberty Bank, all listed in London and supervised by the National Bank of Georgia (NBG). Post-2003 Rose Revolution reforms produced one of the easiest property registration systems globally (Public Registry e-services), and EU candidate status granted in December 2023 has further compressed sovereign spreads. The market splits sharply between GEL-denominated mortgages and lower-rate USD/EUR mortgages, though NBG dollarization rules under Order No. 281 sharply restrict FX lending to GEL-earners.

Why 11% is the typical rate

A rate near 11% reflects the NBG refinancing rate around 8%, lari inflation expectations near 3-4%, and country-risk premium; USD-denominated mortgages run 6-8% but require USD income proof.

Tax & regulatory notes

Property transfers are largely tax-free for individuals (no transfer tax), with only a small registration fee (50-200 GEL) at the Public Registry — among the lowest in the world. NBG Order No. 281 caps payment-to-income at 25-50% depending on currency and income bracket, and limits FX loans to FX-income borrowers. Law on Consumer Loans (2022) implements EU-style ESIS disclosure and a 14-day right of withdrawal.