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.