A meeting of the Financial Stability Committee was held at the National Bank of Georgia, where the regulator adopted several new decisions.

Georgia'sNationalBankFinancialStabilityCommittee'smeetingwas held, wherethe regulatorseveralnewdecisionadopted.

According to one of the decisions, the loan-to-value ratio for loans issued in GEL to individuals secured by real estate will increase by 5 percent, up to 90 percent, which means that a Georgian citizen wishing to purchase an apartment will have to pay 10 percent of the apartment's value as a down payment instead of 15 percent.

“Against the backdrop of the normalization of economic activity, in order to maintain stable activity in the real estate market, the National Bank is temporarily increasing the maximum loan-to-value (LTV) ratio by 5 percentage points, up to 90%, for loans issued in GEL to individuals secured by real estate. In addition, the loan-to-value ratio will increase by 10 percentage points, up to 80%, for mortgage loans to recipients of income from outside Georgia. These changes will facilitate increased access to mortgage loans,” the NBG's statement reads.