Housing Finance Policy

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    A. Legal and Regulatory Framework

    A.1 Legal and Regulatory Framework
    VariableEnd of 2015End of 2014End of 2013SourcesVar ID
    Basis of the legal system: Civil, Common, Islamic, Other? (Describe)CivilCivilCivil
    CIA World Factbook
    		A.1.1
    Registration/Transfer of titles:A.1.3
    Typical number of days needed for the transfer of title111
    WDI
    		A.1.3.4
    Is there specialized legislation covering:A.1.9
    B. Housing Finance Subsidies
    B.1 Subsidies to Housing Finance Institutions
    B.2 Subsidies to Households
    VariableEnd of 2015End of 2014End of 2013SourcesVar ID
    Reach of subsidies in 2.1.1 to 2.1.4 ?B.2.2
    C. Taxation
    VariableEnd of 2015End of 2014End of 2013SourcesVar ID
    What taxes apply to Residential Real Estate?C.1
    Tax on property (home-owners) Yes  
    Global Property Guide
    		C.1.1
    Tax on capital gains on property No  
    Global Property Guide
    		C.1.5
    back to top | Country Data:
    Notes: 2010=100
    Notes: 2010=100
    Notes: 2010=100
    Notes: 2010=100
    Notes: 2010=100
    Notes: 2010=100
    Notes: 2010=100
    Notes: 2010=100
    Notes: 2010=100
    Notes: 2010=100
    Notes: 2010=100
    Notes: 2010=100
    Notes: 2010=100
    Notes: 2010=100
    Notes: 2010=100
    Notes: 2010=100
    Notes: 2010=100
    Notes: 2010=100
    Notes: 2010=100
    Notes: 2010=100
    Notes: 2010=100
    Notes: 2010=100
    Notes: 2010=100
    Notes: 2010=100
    Notes: Although the National Bank of Georgia can set macroprudential policy, it has not directly influenced bank activities due to a weak legal framework
    Notes: Although the National Bank of Georgia can set macroprudential policy, it has not directly influenced bank activities due to a weak legal framework
    Notes: Although the National Bank of Georgia can set macroprudential policy, it has not directly influenced bank activities due to a weak legal framework
    Notes: Although the National Bank of Georgia can set macroprudential policy, it has not directly influenced bank activities due to a weak legal framework
    Notes: Although the National Bank of Georgia can set macroprudential policy, it has not directly influenced bank activities due to a weak legal framework
    Notes: Although the National Bank of Georgia can set macroprudential policy, it has not directly influenced bank activities due to a weak legal framework
    Notes: Although the National Bank of Georgia can set macroprudential policy, it has not directly influenced bank activities due to a weak legal framework
    Notes: Although the National Bank of Georgia can set macroprudential policy, it has not directly influenced bank activities due to a weak legal framework
    Notes: Although the National Bank of Georgia can set macroprudential policy, it has not directly influenced bank activities due to a weak legal framework
    Notes: Although the National Bank of Georgia can set macroprudential policy, it has not directly influenced bank activities due to a weak legal framework
    Notes: Although the National Bank of Georgia can set macroprudential policy, it has not directly influenced bank activities due to a weak legal framework
    Notes: Although the National Bank of Georgia can set macroprudential policy, it has not directly influenced bank activities due to a weak legal framework
    Notes: Although the National Bank of Georgia can set macroprudential policy, it has not directly influenced bank activities due to a weak legal framework
    Notes: Although the National Bank of Georgia can set macroprudential policy, it has not directly influenced bank activities due to a weak legal framework
    Notes: Although the National Bank of Georgia can set macroprudential policy, it has not directly influenced bank activities due to a weak legal framework
    Notes: Although the National Bank of Georgia can set macroprudential policy, it has not directly influenced bank activities due to a weak legal framework
    Notes: Although the National Bank of Georgia can set macroprudential policy, it has not directly influenced bank activities due to a weak legal framework
    Notes: Although the National Bank of Georgia can set macroprudential policy, it has not directly influenced bank activities due to a weak legal framework
    Notes: Although the National Bank of Georgia can set macroprudential policy, it has not directly influenced bank activities due to a weak legal framework
    Notes: Although the National Bank of Georgia can set macroprudential policy, it has not directly influenced bank activities due to a weak legal framework
    Notes: Although the National Bank of Georgia can set macroprudential policy, it has not directly influenced bank activities due to a weak legal framework
    Notes: Although the National Bank of Georgia can set macroprudential policy, it has not directly influenced bank activities due to a weak legal framework
    Notes: Although the National Bank of Georgia can set macroprudential policy, it has not directly influenced bank activities due to a weak legal framework
    Notes: Although the National Bank of Georgia can set macroprudential policy, it has not directly influenced bank activities due to a weak legal framework
    Notes: Although the National Bank of Georgia can set macroprudential policy, it has not directly influenced bank activities due to a weak legal framework
    Notes: Although the National Bank of Georgia can set macroprudential policy, it has not directly influenced bank activities due to a weak legal framework
    Notes: Average of rates enforced during the year
    Notes: Average of rates enforced during the year
    Notes: Average of rates enforced during the year
    Notes: Average of rates enforced during the year
    Notes: Average of rates enforced during the year
    Notes: Average of rates enforced during the year
    Notes: Average of rates enforced during the year
    Notes: Average of rates enforced during the year
    Notes: Average of rates enforced during the year
    Notes: Average of rates enforced during the year
    Notes: Average of rates enforced during the year
    Notes: Completed units in Tbilisi, Batumi, and Kutaisi
    Notes: Completed units in Tbilisi, Batumi, and Kutaisi
    Notes: Completed units in Tbilisi, Batumi, and Kutaisi
    Notes: Completed units in Tbilisi, Batumi, and Kutaisi
    Notes: CreditInfo Georgia is a subsidiary credit bureau of CreditInfo, an Icelandic group
    Notes: CreditInfo Georgia is a subsidiary credit bureau of CreditInfo, an Icelandic group
    Notes: CreditInfo Georgia is a subsidiary credit bureau of CreditInfo, an Icelandic group
    Notes: CreditInfo Georgia is a subsidiary credit bureau of CreditInfo, an Icelandic group
    Notes: CreditInfo Georgia is a subsidiary credit bureau of CreditInfo, an Icelandic group
    Notes: CreditInfo Georgia is a subsidiary credit bureau of CreditInfo, an Icelandic group
    Notes: CreditInfo Georgia is a subsidiary credit bureau of CreditInfo, an Icelandic group
    Notes: CreditInfo Georgia is a subsidiary credit bureau of CreditInfo, an Icelandic group
    Notes: CreditInfo Georgia is a subsidiary credit bureau of CreditInfo, an Icelandic group
    Notes: CreditInfo Georgia is a subsidiary credit bureau of CreditInfo, an Icelandic group
    Notes: CreditInfo Georgia is a subsidiary credit bureau of CreditInfo, an Icelandic group
    Notes: CreditInfo Georgia is a subsidiary credit bureau of CreditInfo, an Icelandic group
    Notes: CreditInfo Georgia is a subsidiary credit bureau of CreditInfo, an Icelandic group
    Notes: CreditInfo Georgia is a subsidiary credit bureau of CreditInfo, an Icelandic group
    Notes: Flat rate of 5% taxed on capital gains from sale of residential property was introduced after 2015
    Notes: Habitat for Humanity's MicroBuild Fund began investing in JSC Crystal to help expand their housing microfinance portfolio
    Notes: Habitat for Humanity's MicroBuild Fund invests in JSC Crystal to help expand their housing microfinance portfolio
    Notes: Habitat for Humanity's MicroBuild Fund invests in JSC Crystal to help expand their housing microfinance portfolio
    Notes: IFC provided $75 million in long-term loans to Bank Republic for mortgage origination
    Notes: In 2019, the National Bank of Georgia introduced PTI and LTV caps
    Notes: In 2019, the National Bank of Georgia introduced PTI and LTV caps (60% PTI cap and 85% LTV cap)
    Notes: Includes all variable rate loans
    Notes: Includes all variable rate loans
    Notes: Includes all variable rate loans
    Notes: Includes all variable rate loans
    Notes: Max term limit of 15 was introduced on December 24, 2018
    Notes: National Bank of Georgia's Order no. 195/04 regulates data access
    Notes: No capital gains tax on sale of personal property if held for over 2 years.
    Notes: On December 24, 2018, a max term limit was set
    Notes: On December 24, 2018, the NBG introduced a max term limit of 15 years
    Notes: Order no. 281/04 of National Bank of Georgia requires all loan issuers to check credit history in bureaus before issuing a mortgage. It was passed December 24, 2018
    Notes: Property tax is a local tax levied on the market value of properties, excluding land. It varies according to the amount of annual family revenue of the individual.
    Notes: Property tax is a local tax levied on the market value of properties, excluding land. It varies according to the amount of annual family revenue of the individual.
    Notes: Property tax is a local tax levied on the market value of properties, excluding land. It varies according to the amount of annual family revenue of the individual.
    Notes: Property tax is a local tax levied on the market value of properties, excluding land. It varies according to the amount of annual family revenue of the individual.
    Notes: Residential transactions in Tbilisi
    Notes: Residential transactions in Tbilisi
    Notes: Residential transactions in Tbilisi
    Notes: Residential transactions in Tbilisi
    Notes: Residential transactions in Tbilisi
    Notes: Residential transactions in Tbilisi
    Notes: Residential transactions in Tbilisi
    Notes: Residential transactions in Tbilisi
    Notes: Residential transactions in Tbilisi
    Notes: The Ministry of Internally Displaced Persons constructs and acquires housing units for internally displaced persons
    Notes: Varies between GEL50-200 (~USD20-80)