Data from the National Bank of Georgia shows that mortgage lending in Georgia expanded significantly in the first quarter of 2026, reflecting strong demand for housing alongside improved borrowing conditions.
Commercial banks issued 12,835 mortgage loans during the period, with a total value of 1.28 billion GEL. This represents a 34% year-on-year increase in the volume of lending while the number of issued loans rose by 20%.
The average mortgage size also increased, reaching 99,600 GEL compared to 89,500 GEL in the same period of 2025. Analysts link this growth to rising real estate prices and changes in lending requirements, including a reduction in the minimum down payment from 15% to 10%, which has enabled borrowers to access larger loans.
At the same time, borrowing costs declined. In March 2026, the average interest rate on mortgages issued in the national currency stood at 11.88%, down by 1.45 percentage points compared to a year earlier.
