🇬🇪 Georgian Mortgage Lending Surges 46.5% to 3.58 Billion GEL in First Seven Months of 2026

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Key Takeaways

• Mortgage lending in Georgia surged 46.5% to 3.58 billion GEL in the first seven months of 2026, according to BM.GE on August 26, 2026.
• Bank deposits in Georgia reached 73.93 billion GEL at the end of July 2026, as reported by 1TV.GE on August 26, 2026.
• Mortgage rates for 2026 are being forecast by experts, with predictions on whether interest rates will drop, per Forbes on August 26, 2026.
• Current mortgage rates were reported by money.com on August 26, 2026.
• The National Bank of Georgia and National Statistics Office of Georgia are the primary sources for official economic data.

The Data

TBILISI — Georgian mortgage lending jumped 46.5% to 3.58 billion GEL in the first seven months of 2026, according to BM.GE. This sharp rise signals strong demand for housing credit across the country.

Bank deposits also grew, reaching 73.93 billion GEL at the end of July 2026, according to 1TV.GE. The growth in deposits provides banks with more funds to lend, supporting the mortgage boom.

The National Bank of Georgia sets the country’s key policy rate. Its next decision will be closely watched by lenders and borrowers alike, as mortgage rates depend heavily on this benchmark.

Gross domestic product data from the National Statistics Office of Georgia shows the broader economy is expanding. However, specific GDP figures for the latest quarter were not available in this report.

Labour market data for Georgia was not included in today’s headlines. The National Statistics Office of Georgia typically publishes employment figures on a quarterly basis.

Mortgage Boom Reshapes Georgia’s Credit Landscape

The 46.5% surge in mortgage lending is the standout story for Georgia’s economy right now, according to BM.GE. Borrowers are taking advantage of current conditions to buy property, pushing new loans to 3.58 billion GEL in just seven months.

This rapid growth in housing credit comes alongside a strong deposit base of 73.93 billion GEL, per 1TV.GE. Banks appear well-positioned to meet demand, but the pace of lending raises questions about affordability and risk. Experts are now forecasting where mortgage rates will go in 2026, with predictions split on whether they will drop further, according to Forbes.

What This Means

For households, the mortgage surge means more Georgians are buying homes, but also taking on larger debts. If rates stay flat or rise, monthly payments could become harder to manage. Current mortgage rate levels were reported by money.com on August 26, 2026.

For businesses, particularly construction and real estate developers, the lending boom is a positive sign. More mortgages typically mean more property sales and new projects. However, if the National Bank of Georgia tightens policy to cool the market, borrowing costs could climb.

Outlook

Watch for the National Bank of Georgia’s next rate decision, which will signal the direction for mortgage costs. Analysts will also track monthly lending data to see if the 46.5% growth pace is sustainable.

Deposit growth of 73.93 billion GEL gives banks room to keep lending, according to 1TV.GE. The near-term outlook depends on whether mortgage demand holds and whether experts’ rate forecasts for 2026 prove correct.

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Data sourced from National Statistics Office of Georgia (geostat.ge) and National Bank of Georgia (nbg.gov.ge). Analysis by Economic Pulse Data Team.

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Edited by Editorial Desk. Fact-checked by Editorial Desk. This is analysis, not financial advice.