The main factor behind Georgia’s real estate and construction investment attractiveness is increased demand, according to Arsi CEO Beso Ortoidze. Speaking on BMGTV’s Tsertili, he said the market has returned to a healthier and more stable trend after the sharp price increases of 2022–2023, with annual growth of 7–10% reflecting the pre-pandemic pattern.
Ortoidze said the key question is how sustainable demand will be in the long term. “Real estate price growth is healthy, but the more interesting and difficult question is how long-lasting and sustainable this demand is,” he said, pointing to geopolitical and other external factors as potential risks.
He said demand, rather than Georgia’s EU candidate status, remains the main factor attracting investors. Ortoidze noted that his Estonian partners reinvest around 90% of profits in Georgia, citing stable demand and moderate price growth. He added that Tbilisi prices, which previously averaged $500–800 per square meter, rose sharply to around $1,500 in 2022–2023 before stabilizing.
Ortoidze also highlighted the growing scale of development projects in Georgia. While he called this a positive trend, he said developers and investors should consider whether future projects will match demand, particularly if external factors and foreign buyers become less influential.
