Why are real estate prices in Georgia listed in dollars instead of euros?
https://i.redd.it/hmcoc1k0wwhg1.jpeg
Posted by winter_lover28
Why are real estate prices in Georgia listed in dollars instead of euros?
https://i.redd.it/hmcoc1k0wwhg1.jpeg
Posted by winter_lover28
5 Comments
And usually cars too.
Historical view of volatile currency, and some mortgage borrowings in $.
Scrap cars are bought from US so $ price is visible in auction etc.
Because Dollars have a history in Georgia that goes back, dollars were circulating bought and sold in Georgia even during the Soviet Union days, not in the open obviously
Because after ussr fall USD was the only strong currency that was available here at that time since Euro didn’t exist, you wouldn’t expect anyone to trade in Georgian coupons or in Rubles, many Georgians lost so much money to devaluation that they could have bought several houses. So it’s more of a habit now, some people still trade in Euros
USD and EUR are comparably stable currency to others, that’s why the prices are shown in the foreign currency – the inflation rate does not really affect the price of the sale.