21.Apr .2022 17:00

Realtors Will Have To Lower Prices - Real Estate Company

Realtors Will Have To Lower Prices - Real Estate Company
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Demand for real estate rental is down compared to a month and a half ago, although high prices are still maintained. Zurab Lachashvili, director of real-estate company Sigma notes that the rental prices for apartments increased by 30-50% on average a month and a half ago.

"If the rental price for a one-room apartment stood at USD 300 in the central district two months ago, now it increased to USD 450," he noted.

According to the director of Sigma, the real estate market is inertial and price stabilization will take some time.

"We expect prices to decrease in a month. Any agiotage in business is followed by stabilization. Increased demand for the apartments was natural about a month and a half ago, which caused a price growth. However, demand is down and realtors will have to lower the prices," - noted Zurab Lachashvili.

According to TBC Capital, the price of real estate in Tbilisi increased by 20.1% in March compared to February.