21.Nov .2022 16:00

Real Estate Price Is Up In Tbilisi - TBC Capital

Real Estate Price Is Up In Tbilisi - TBC Capital
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TBC Capital published a report on Residential Real Estate In Tbilisi. According to the document, in October 2022, Tbilisi residential real estate market indicators reached new highs. The report reads that sale price spiked considerably to 1,037 USD per square m, with sizeable growths observed both in monthly (+7.2%) and annual (27.6%) terms.

As expected, the impact of the second wave of migration on rents is reflected in October’s data. Asking rent price broke its own record, reaching its highest point yet. Compared to September 2022, the growth amounted 24.9%, while the figure stood 120% higher relative to the same period of 2021.

As rent prices showed stronger growth than sale prices, rental yield was pushed even further up to 13% in October 2022, with a 1.8 pp MoM and 5.5 pp YoY increase.

In total, 4,052 transactions were registered in the month of October, which was 34% higher than the same period last year.

According to "TBS Capital", real estate for sale in October increased in price the most in the following districts of the capital city: Mtatsminda (+38%), Saburtalo (+35%) and Nadzaladevi (+23%).

As for the rental price, the highest increase was observed in Didi Dighomi (+18.9%), Gldana (+16.3) and Samgori (+16%).