Investor Presentaiton
12.4
11.1
93%
96%
90%
90%
90%
83%
86%
82%
81%
69%
m² housing development business - market opportunity
Average household size and home ownership | 2016
Source: Eurostat, Colliers International
GEORGIA
CAPITAL
# of housing units developed by time periods
Source: Colliers International
3.3
2.8
2.7
2.7
2.6
2.4
2.3
2.3
2.2
2.1
33
35
Georgia Croatia Slovakia
Poland
Romania
Bulgaria
Hungary
EU
Estonia
Lithuania
Average Household Size
Home Ownership 2016
<1941
1941-1960 1961-1980
2014
2015
2016
2017
Old flats
New flats Houses
Thousands
Georgia has one of the highest average household size of 3.3 people. This number has dropped from
3.8 in 2015 and further decrease in this number will increase the demand
Around 120,000 (35%) of housing units in Tbilisi were built more than 40 years ago and are out of their
usable lifecycle
10.6
11.7
Number of sales transactions by unit types
Source: Colliers International
Mortgage loans as a % of GDP 2017
Source: IMF, Central banks
12
66
58
55
1.0
15.3
Thousands
1.1
6.2
12
0.9
11.6
49 45 43
43 41
36 35 33
31 30 28 25
22
6.7
Netherlands
Cyprus
Luxemburg
Portugal
Spain
France
Finland
Malta
Germany
Belgium
Greece
Compared to peers, Georgia has one of the lowest Mortgage Loan as a % of GDP ratio. Implying that
there is a room for increase on the total value of outstanding mortgage loans.
Page 34
Estonia
Slovakia
Austria
Irland
Italy
Lithuania
Latvia
123
57
4
1981-1990
1991-2001 2002-2012
17 16
Slovenia
Georgia
88
29
21
2013-2015
2016-2018EView entire presentation