05.Oct .2022 14:00

We Don't Expect Residential Real-Estate To Get More Expensive - Archi

We Don't Expect Residential Real-Estate To Get More Expensive - Archi
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Ilia Tsulaia, founder of construction company "Archi" declares, the business does not expect residential real to get more expensive. He told journalists about this after the meeting with the representatives of the Business Association of Georgia and the Prime Minister.

According to him, the price stability for construction materials will lead to maintaining the current price of the real estate.

"Price growth on the real estate is primarily caused by the increase in the price of construction materials and labor. Due to the fact that the prices have stabilized in the recent period, there will be no increase. This means that the increased prices for real estate will be maintained and no longer increase.

In addition, despite the price growth, demand is still quite high and construction has a large share in economic growth," said Ilia Tsulaia.

As for the increased expenditures on the labor force, he said that that was already reflected in the grown costs.