The Constitution of Georgia states “The State shall take care of human health care and social protection, ensuring the subsistence minimum and decent housing, and protecting the welfare of the family" (Constitution of Georgia, Article 5, 2017). However, at the moment, Georgian legislation is characterized by a lack of laws and regulations that clearly define the responsibilities of public institutions to solve housing-related issues in the country. To address this issue, the Government of Georgia (GoG) has established a working group including key stakeholders operating on social housing issues, led by top representatives of the Ministry of Internally Displaced Persons from the Occupied Territories, Labour, Health and Social Affairs of Georgia.
The lari depreciation caused a substantial decrease in USD prices of real estate. Average rental prices of residential property reached their historical minimum in March 2015. Property sellers are trying to compensate for the price decline by offering better, more expensive housing for sale.
The lari depreciation has started to affect real estate market prices in Tbilisi. The average rental price for residential property has continued to fall, reaching a new historical minimum in February 2015.