Irine Kvakhadze, Head of TBC Capital Research said in 2022, apartment rental prices increased by 60%, while selling prices were up by 15%.
While visiting TV-program "Real Estate Prospect", Kvakhadze noted that the demand for commercial spaces in shopping centers has increased significantly, which has increased the price by 22%.
"Apartment rental prices are increased by 60% mostly from the second half of the year, we remember that it was 116-120% and even more per month. As for the annual selling price, here we have an increase of about 15%. The growth in 2022 was impressive, which exceeded pre-pandemic levels.
As for commercial real estate, we have just released a new study, according to which the occupancy rate in shopping centers has significantly increased, which menas that the volume of total unusable rental space is down, while the rental prices are up by 22%. As for the street trading facilities, we have not yet reached the 2019 mark in the rental part. There are positive trends in relation to business centers as well, the data here also exceeded the indicators of 2019. Today, the vacancy rate is 11%, only 11% is unoccupied, which is a significant increase, a 23% improvement is recorded," said Irine Kvakhadze.
