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CEO at First Credit Union: The Year 2015 is the most Favorable Time to Buy Real Estate

In 2015, the real estate market is expected to become more active – Givi Korinteli,  the CEO at    the First Credit Union,  said in the air of radio  “Commersant”. According to him, the current year is the most favorable time to buy real estate.

This prediction is  based on two factors: first, a  bank competition and reduction in interest rates on mortgage loans. Korinteli suggests this process will continue and may result in  very favorable conditions; another factor is a fierce competition between the companies.

In the words of Givi Korinteli,  a customer  can make a very profitable investment in the  real estate by hybridizing  these two parameters but he must be careful because “selling air” trends  are still observed  on the market.

In these circumstances, Korinteli recommends the user to ensure that the bank has the full support of the project in which he plans to buy an apartment.
On the question of what caused the return of “selling air” trend back on  the market, Givi Korinteli says that psychological moment  is  decisive here, because people follow the optimistic trends and when the situation improves  think  that bad tendencies will not be repeated.

As for the insurance mechanism against  “air” purchase,  the head of the First Credit Union advises  the user  to consult with a lawyer that people are often too lazy to do.

As for the Union’s achievements  in 2014, it  suffered  a 20% increase last year and added non-resident individuals to   its members. This, Korinteli thinks, is the Union’s structure merit, the American anti- banking Occupy Wall Street movement aroused  foreigners’ interest in  the Georgian Credit Union.

Foreigners are represented in the First Credit Union as depositories.