When buying an apartment in new projects, there are two main ways:Bank mortgage andDeveloper’s internal installment planIn 2026, installment plans became even more popular — according to SOVA, some offersWith a 0% down payment Yes, it does. But at what cost?
The main difference
| Parameter | Bank mortgage | Developer’s installment plan |
|---|---|---|
| Adjustment | National Bank Regulations (LTV, PTI) | Mostly contract-based, less regulation |
| Initial contribution | In GEL, min. 10% | Possibly 0–30% |
| Income verification | Severe | Often minimal |
| Timeout | Often 10–20 years | Typically, the construction period or a few years |
| Currency | GEL or foreign currency | Often in dollars |
| Ownership | Registered in your name, with a bank mortgage | Often only after full payment or delivery |
Advantages of installment plans
- Easy to get started — fewer documents and deposits.
- Often without interest or with a low markup.
- Flexible schedule with construction stages.
Where is the risk?
- Unfinished project. If the developer fails to complete the construction, getting a refund of the amount paid can be difficult and time-consuming.
- Property registration. Find out when and how the apartment will be registered in your name. It is best to register a preliminary agreement or commitment in the Public Registry.
- Currency risk. Dollar installment with income in GEL — the installment becomes more expensive when the exchange rate rises.
- Penalties and termination. What happens if you are one month late? Some contracts have strict penalties, and you may lose part of the amount paid if you terminate the contract.
- Delivery status. The price may be for a “black frame”, after which renovations will incur additional costs.
Contract Review Checklist
- Land plot owner and construction permit.
- The exact area, floor, number, and layout of the apartment are attached.
- Handover date and penalty for the developer’s delay.
- Currency, schedule, penalties, and termination terms.
- Delivery condition (white / black / green shell).
Use theSample contracts Consult with a lawyer for guidance and before entering into any significant transaction.
What’s better?
If you have a stable income and the bank approves you,Mortgage Often more secure: The apartment is registered in your name immediately.Down Payment It’s a good option if you choose a reliable developer, have a transparent contract, and assess the risks in advance. Check it out.New projects on NULI.GE.
Frequently Asked Questions
Is it possible to pay off an apartment purchased on an installment plan with a mortgage?
Often, yes — after the apartment is handed over and registered, the bank finances the remaining amount. The terms and conditions vary depending on the bank.
How can I check the developer?
Check out their completed projects, public registry extract, court disputes, and buyer feedback.
Is the developer’s installment plan regulated?
Much less than with a bank mortgage. Therefore, your main protection is a well-drafted contract.
Source: SOVA — “Who Can Afford Real Estate in Tbilisi: Mortgages, Installment Plans, and New Regulations” (October 2026).
the article is informative and does not constitute financial, tax or legal advice. Consult with a specialist before making an important decision.
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