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03.Jun .2020 15:17

The trend of demand for holiday houses is emerging - a study of the real estate consumer market

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“Area Group” has published a research. According to the research, Saburtalo is the most demanded area in terms of real estate acquisition.

The study also notes that there is an interesting trend, namely demand is increased for holiday houses.

“Demand for land plots, locating at the nearby area of Tbilisi, was characterized by a small but still growing trend even before COVID-19. We think that lifestyle stimulates this demand and it has nothing common with the pandemic, but it will have connection with the economic recovery and economic growth in the country”, the study reads.

As for the sources of real estate acquisition, the study found that 89% of consumers consider buying a living space by installment, which includes bank mortgage loans and internal installments offered by the developer companies. Merely, 11% of customers have the full amount of sum to buy an apartment.

“The number of customers, who plan to buy an apartment with a bank mortgage loan, amounts to 70%. However, 31% of it considers acquisition with full funding from the bank. To note, 19% accounts for the internal installments offered by the developer companies. It is clear that the largest audience is among the customers with a revenue from 500 GEL to 2,500 GEL", the study said.