Macro-economic Data

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    A. Demography and Macroeconomy

    A.1 Population
    VariableEnd of 2015End of 2014End of 2013SourcesVar ID
    Total population3.73 million3.72 million3.72 million
    WDI
    		A.1.1
    Urban population (% of total)53.64% of total57.07% of total56.69% of total
    WDI
    		A.1.4
    Urban population growth (annual %).82%.72%.38%
    WDI
    		A.1.5
    A.2 Economy
    VariableEnd of 2015End of 2014End of 2013SourcesVar ID
    GDP, current prices (U.S. dollars)13,993 USD (millions)16,510 USD (millions)16,140 USD (millions)
    WEO
    		A.2.1
    GDP based on PPP valuation of country GDP (Current international dollar)35,803 USD (millions)34,442 USD (millions)32,322 USD (millions)
    WEO
    		A.2.2
    GDP per capita, current prices (U.S. dollars)3,759.6 USD 4,441.77 USD 4,340.71 USD
    WEO
    		A.2.3
    GDP based on PPP per capita GDP (Current international dollar)9,619.68 USD 9,266.45 USD 8,692.49 USD
    WEO
    		A.2.4
    GDP, constant prices (Percent change)2.88%4.62%3.39%
    WEO
    		A.2.5
    Inflation, end of period consumer prices (Percent change)4.88%1.95%2.37%
    WEO
    		A.2.6
    GDP, deflator (Index)120.64113.93109.78
    WEO
    		A.2.7
    Consumer price index114.66110.25106.97
    WDI
    		A.2.8
    GINI Index36.5037.6038.60
    WDI
    		A.2.9
    Growth in urban household income (%/year)A.2.13
    Employment (% of total laborforce)A.2.14
    Unemployed14.08%14.62%16.94%
    National Statistics Office of Georgia
    		A.2.14.3
    Interest Rates:A.2.15
    Central bank lending/discount rate6%4%4.06%
    National Bank of Georgia
    		A.2.15.1
    Yield on 3 months treasury bills8.78%6.17%5.16%
    IFS
    		A.2.15.2
    Average bank deposit rate8.91%8.43%9.73%
    IFS
    		A.2.15.4
    Lending rate12.49%11.91%13.6%
    IFS
    		A.2.15.5
    B. Housing Market
    B.1 Housing Stock: Production, Transactions
    VariableEnd of 2015End of 2014End of 2013SourcesVar ID
    Number of dwelling units:B.1.1
    Total .11 million B.1.1.1
    Characteristics of housing stock:B.1.3
    Tenure in urban areas (%):B.1.4
    Estimated Number of units completed/yearB.1.5
    Formal sector/registered5,507 units5,499 units 
    Colliers International
    		B.1.5.1
    Number of recorded urban housing transactions/year187431968317766
    Colliers International
    		B.1.6
    B.2 Housing Prices and Cost for Urban Areas or Capital City
    VariableEnd of 2015End of 2014End of 2013SourcesVar ID
    Median urban house price in USD:B.2.1
    Median house price to median annual HH income:B.2.2
    Annual average % change in median house prices:B.2.3
    M2 construction cost for median quality houseB.2.4

    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)