21.Nov .2020 22:00

Where Is Rent the Cheapest in Tbilisi?

Where Is Rent the Cheapest in Tbilisi?
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According to the report, the prices of old apartments declined by 1.2% YoY to 625 USD/Sqm, down 3.0% MoM. The price in GEL terms posted 7.4% annual growth, down 2.5% compared to the previous month. The sales prices are mostly displaying a tendency for YoY decline for old apartments in most of the districts in Oct 2020, while the prices remained resilient in more districts for new apartments.
As for the rental prices, TBC Capital here reports that monthly rental asking prices continued to decline in October, averaging USD 4.8 per Sqm for Tbilisi, down 2% MoM. Compared to January 2020, monthly rental asking prices are down 21% in Tbilisi. Decrease is observed for every district, the sharpest in Samgori (-28%), Chughureti (-28%), Saburtalo (-25%), and Gldani (-23%). In addition, according to the NBG, the rental yield in Tbilisi stood at 7.4% in September, down from 7.6% in the previous month, falling even lower compared to its long-term trend (8.3%).