Construction business hopes for better future
By M. Alkhazashvili
Thursday, September 4The Russian aggression has damaged the Georgian economy, creating certain difficulties for construction and development companies. Bank credit repayment liabilities have increased and building materials prices have gone up. However, businessmen in this field are sure the situation will not reach crisis level.
Georgian real estate experts donít think prices will depress, which highlights that the Georgian economy is stable. The price maintenance also indicates that Georgiaís economy can recover and develop further.
The demand for flats to buy has decreased and most of the development companies are currently busy assisting IDPs in the conflict zones and carrying out reconstruction works there, generally as a charitable gesture. But if Georgia receives serious financial support from various countries and organizations the construction business will return steadily to its previous position.