03.Mar .2020 17:29

Saburtalo Tops Real Estate Sales in Tbilisi - ISET Review

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Tbilisi, Adjara and Kakheti - these are the three regions with the highest sales of real estate. This is stated in the review of the ISET Real Estate Market.

According to the review, 40.7% of real estate sales accounts for Tbilisi in Q4, 2019, followed by Adjara - with 12.4% and Kakheti - 12.2%. The highest annual growth in Q4, 2019 was recorded in Racha-Lechkhumi and Kvemo Svaneti (62.9%), followed by Shida Kartli (26.8%), Samegrelo-Zemo Svaneti (18.2%), and Adjara (14.8%). In Tbilisi, there was a 5.6% decline.

Overall, the real estate market in Georgia grew by 4.7% in the fourth quarter compared to the third quarter of 2019. The growth is 3% comparing to the same period of 2018.

ISET's real estate market research also notes that more than half of registered sales were in two largest cities: Tbilisi and Batumi.

In Tbilisi, Saburtalo tops with 3,591 units (25.5%), followed by Vake with 2,375 units (16.9%) and Gldani with 1,609 units (11.4%).