Tamaz Daushvili, founder of DIO, says Georgia’s construction market remains relatively stable, but demand for post-construction services such as renovation and interior finishing has weakened significantly. Speaking on the TV program Analytics, he said apartments are still being purchased, but many buyers are postponing renovations due to lower purchasing power and market uncertainty.
According to Daushvili, real estate remains an attractive investment, especially for Georgians living abroad. However, as rental demand and related income decline, buyers are becoming more cautious. He said this trend has become especially noticeable this year, with many people choosing to keep newly purchased apartments unfinished.
The businessman believes weaker consumer confidence is linked to economic uncertainty and regional geopolitical tensions. He highlighted the limited purchasing power of Georgia’s middle class as one of the country’s main economic challenges, noting that many households spend most of their income on essential goods rather than improving their living conditions.
Daushvili said companies like DIO, which mainly depend on the domestic market, currently see limited growth opportunities. He argued that Georgia needs to focus more on high-tech industries, productivity growth, and export-oriented production rather than relying mainly on tourism and construction to achieve long-term economic development.
