Tracking the Recovery

27 Nov, 2020
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  • The newly issued mortgages displayed 22% YoY decrease in the 1-23 November period, mainly reflecting the impact of the FX volatility and increasing number of COVID-19 cases
  • Of mortgages issued since 6th of July, 34.3% are beneficiaries of the state subsidy program
  • The 7-day MA of residential real estate transaction registrations in Tbilisi almost at last year’s level, with YoY change of -1% as of November 23rd
  • Change in resident noncash spending on apparel, pharmacy and household goods categories skyrocketed this week likely due to  “Black Friday” sales starting early, which does not correspond to the same period of the previous year. Also a three day weekend and a temporary halt of mobility restrictions appears to supported the growth further
  • Forward occupancy rates for November amount to 2% for seaside, 6% for other regions and 7% for Tbilisi, while current bookings indicate a 8% occupancy rate for Kakheti
  • Remittances inflow in TBC shows a slight increase compared to the previous week, standing at +10% YoY in the seven days of 16-22th November
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