19.Aug .2022 16:00

Top 3 districts in Tbilisi with largest growth of residential property transactions

Top 3 districts in Tbilisi with largest growth of residential property transactions
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In July 2022, the number of transactions in the majority of districts was noticeably higher than in the same period of 2021. Didube (- 11%) was the only district posting a YoY decline, according to Monthly Watch of TBC Capital on Residential Real Estate in Tbilisi.

"The top 3 districts with the largest YoY growth of transactions were Chughureti (+82%), Didi Dighomi (+49%) and Krtsanisi (+36%).

Regarding the shares in total transactions, Saburtalo (18.4% of total) and Didi Dighomi 16.7% of total) remained at the top, while Krtsanisi, Chughureti and Mtatsminda still remained at the bottom of the list, together accounting for about 9% of total sales.

Sale prices surpassed the 2021 level in all districts. The highest YoY increase was observed in Mtatsminda (+25%), which was followed by Didi Dighomi (+19%) and Gldani (+19%).

In July 2022, rent prices remained at considerably higher levels relative to the same period of last year, showing more than 50% YoY growth in all districts.

Rental yields also stayed at sizeable levels. The top 3 districts were: Didi Dighomi (13%), Isani (12.3%) and Didube (12%). In these districts, rental yield still exceeded GEL longterm deposit rate," the report says.