The National Bank of Georgia has developed a real estate development sector study that provides an overview of Georgia's residential real estate market and the factors affecting it.

According to the document, developers' overall profit margin in Tbilisi projects amounts to 36% on average.

As of the NBG, the total profit margin distributed by districts is as follows:

● Saburtalo - 41%;
● Vake - 38%;
● Isani-Samgori - 38%;
● Didi Digomi - 36%;
● Bagebi - 36%;
● Didube-Nazaladevi - 35%;
● Krtsanisi - 29%;
● Lisi - 25%;
● Gldani-Mukhian - 18%.

"Expenditures on labor force and reinforced concrete (excluding land) amount to 53% of the total expenditures. The land fee is 15% of the final cost.

The overall profit margin is 36% on average in Tbilisi development projects;

The higher-than-average profit margin is in Saburtalo, Vake and Isan/Samgori/Varketili districts, although Lisi and Gldani-Mukhiani are far behind the average profit margin. One of the highest profit margin is in Vake, thanks to the highest selling price;

The share of sales and administrative expenses in the funds received from the sale is more or less similar in the districts of Tbilisi, except for Bagebi, where this figure is much lower and does not exceed 2%," - according to the report published by the National Bank.