Get a 9% Mortgage Loan from DIRSI in Lari | Property Georgia

Get a 9% Mortgage Loan from DIRSI in Lari

News from the Dirsi ‘mini-city’! The company is now offering its tenants loans in the national currency, at the most competitive rate of 9%. The Azerbaijanian company devised its new, completely customer-oriented sales strategy together with TBC Bank’s Mortgage Centre.

The ability to obtain a loan in the national currency when purchasing real estate is one of the most crucial factors, since the majority of the Georgian public receives its income in Lari. This, according to developers and the Mortgage Centre, is highly significant for easily repaying the loan. The company has pointed out that loans taken out at a relatively low interest rate (4-5%) in US dollars are not always ideal, as they contain risks associated with a sharp increase in the price of foreign currency. As part of the new offer, Dirsi (AS Georgia) is also laying emphasis on maturity, clearly identifying it among the advantages of obtaining loans in the national currency: delivering forecasts with regards to general currency trends for the next 5 years is possible to a certain extent, but delivering similar calculations for the next 15 years is impossible. To mitigate risks, it therefore becomes even more important for customers to obtain long-term loans in the currency in which they receive their income.

In case of a significant devaluation of the local currency, banks will offer clients to restructure their currency loans in Lari, the TBC Bank Mortgage Centre explains. However, original terms of a loan are usually better than renewed terms. Therefore, according to the Mortgage Centre, taking out a mortgage in Lari always constitutes a lower-risk option for people who receive their income in the local currency.

Dirsi is a ‘mini-city’ where, together with the residential apartment blocks, the following pieces of social and engineering infrastructure are located: kindergartens, schools, a shopping and entertainment centre, sports and healthcare facilities, a medical centre, a comfortable yard, children’s playgrounds, and others. Dirsi is the largest residential complex in Georgia, comprising of 20 apartment buildings with 4898 fully fitted-out flats.

The construction of the complex is carried out by the Azerbaijani company AS Group Investment, which entered the Georgian market in 2011 and founded the subsidiary company AS Georgia, which began building the Dirsi ‘mini-city’ in 2012.

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