Signs of real estate market recovery are not observed and after a 29% drop decline is fixed in the market again – "Goro Group" head which is one of the largest real estate agencies announces.

Note: In March 2012, the number of transactions in the real estate market amounted to 29 680 units which is 29. 1% less compared with the same month of 2011.

According to Barvenashvili, a consumer refrains from a large purchase. The reason, in the expert’s opinion, is the banks’ policy, he notes that of bank loan issuance is still complicated, as well as interest rate is high.

“Goro Group" Director states that the people avoid making a purchase till October because they are waiting for parliamentary elections.

In his words, the highest demand is for completed first and second apartments because people avoid making money in the apartments under construction without a bank guarantee.

“Bonus "agency’s head Ilya Inashvili has more optimistic assessment of real estate market. He notes that demand is growing on the real estate market and customers don’t avoid making a large acquisition.

As for prices, "Goro Droup" Director says that prices have not reduced.

Source:www.commersant.ge