Mortgage in Lari, Dollars, or Euros: Which Currency to Choose in Georgia

Instead of introducing new laws, the banks have strengthened their internal controls (Compliance). The main trend this season is a strict alignment between the loan currency and the borrower’s income currency.

The regulator continues its policy of “larization,” so borrowers whose salary is in lari are generally not approved for foreign-currency mortgages. This protects them from exchange-rate fluctuations. However, for non-residents with income in foreign currency, the doors remain open. The main barrier is not a legal prohibition, but the complexity of passing KYC (“Know Your Customer”) procedures. Banks require transparent proof of the source of foreign funds.

This is why purchasing an apartment in Batumi (Georgia) is more reliable with the support of a professional broker. We know the legal methods for coordinating foreign-currency transfers and understand how to properly prepare (“package”) the documents for a specific bank’s security department to avoid rejection.

The main plus of GEL is the absence of exchange rate fluctuations. If the salary is accrued in local money, this is the only correct strategy.

Advantages:

• Fixed payment in the earning currency.
• Independence from devaluation.
• Access to state subsidies (for citizens).

Disadvantages:

• High mortgage interest in Georgia: the total overpayment over 15 years sometimes reaches 100% of the object's price.
• Repayment period for expats is often limited to 10–15 years.

With income in hard currency units (IT sector, foreign business), financing in USD or EUR looks more attractive. The monthly burden at 8% is noticeably lower than at 13%.

The main risk lies in the mismatch between earning and debt currencies. Exchange rate spikes can sharply increase debt servicing costs.

Exception — investments for rental. In Adjara, rental rates are traditionally pegged to the Dollar. In such a scenario, a mortgage in Georgia works towards self-sufficiency: receipts from tenants cover obligations to the bank without conversion losses.

The query "buy an apartment in Batumi in installments" is popular in the region. It is important to understand that this is not an analogue of a bank product.

1. Bank Financing

A marathon for 10–20 years. Minimum payment, but the presence of overpayment (8–15%). Mandatory: proof of solvency, asset valuation, and a down payment of 30–40%.

2. Internal Installment Plan

A sprint until construction completion (2–4 years). The main bonus is 0% overpayment. Processing by passport, entry threshold from 10%. The downside is large monthly tranches due to compressed terms.

With high income and the ability to close obligations in 3 years, an installment plan is more profitable. For a minimal burden "in the long run," choose a bank.

We help obtain hybrid conditions: a long payment schedule, comfortable for the budget, without unnecessary banking bureaucracy.