Apartment Sales Slightly Down In Tbilisi - Recov.ge
In March 2023, in Tbilisi the number of transactions of residential flats amounted to 3,368 units, reflecting 12% YoY reduction. Market size decreased by 4% standing at USD 186 million, - according to the real-estate website recov.ge.
In March 2023 the number of transactions in new projects decreased by 14%. The figure for old flats features a 9% decrease compared to March 2022.
In March 2023 the number of transactions of newly-built premium flats in Tbilisi has increased by 26%, while a 15% growth was observed in the medium segment. As for the economy segment, the figure has decreased by 29% recording 1,258 units.
As of March 2023 weighted average price of newly-built flats in Tbilisi has increased by 13% in the suburbs, by 12% in the wide center, a 5% growth is recorded in the city centre.
As of March 2023 in Tbilisi the weighted average price of old flats has increased by 7% in the suburbs, while in the wide centre and the city centre 4% and 9% growth is observed.