Demand On Residential Real Estate Up By 21% In Tbilisi - Colliers

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27.Oct .2022 18:00

Demand On Residential Real Estate Up By 21% In Tbilisi - Colliers

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Author:Natia Taktakishvili

In Tbilisi the number of transactions of residential flats amounted to 31,023 units, reflecting 21% YoY growth in the first 9 months of 2022, - according to Colliers.

As of the document, the market size increased by 35% standing at USD 1.5 billion, which 91% more compared to the same period of 2020.

"The weighted average price of newly-built flats has increased by 16% in the centre of Tbilisi, while the figure grew by 15% in the inner city. As for the suburbs, 11% growth is recorded. Regarding old flats, the weighted average price has increased by 10% in the suburbs, while in the city centre and inner city 9% growth is observed", - Colliers reports.

As of January-September of 2022 the number of transactions of newly-built medium flats in Tbilisi has doubled, while a 137% growth was observed in the premium segment. As for the economy segment, the figure has increased only by 5%.

Real Estate Colliers