Real Estate Expert: Standard Loan Conditions Promote Development Sector
It is difficult to promote development projects under standard loan conditions”, real estate expert Shota Gujabidze noted. Standard mortgage loans make the construction process more expensive, he said.
“On real estate market commercial banks do not offer a development product. The development bank product implies certain conditions and preferences tailored to the real estate market. The lack of this product make us use the standard mortgage loan and this process makes the construction process more expensive.
Under the standard conditions, it is difficult to promote development sector”, real estate expert Shota Gujabidze noted.