Real estate prices in developer Biograpi Living’s projects are rising steadily and dynamically, according to the company’s CEO, Vasil Phkakadze. He noted in the “Business Morning” program that demand is the main factor driving the increase.
Phkakadze highlighted the “Sakeni” project on Vazha-Pshavela Avenue as an example: when sales began two and a half years ago, prices ranged from $1,900 to $2,100 per square meter. Today, with nine months remaining until construction completion, prices exceed $3,000/m², reflecting high demand that outpaces supply.
The CEO emphasized that this trend is consistent across all Biographi Living projects, due to their prime locations, unique architecture, and limited availability of apartments. He added that this growth signals a strong opportunity for investors, as those who previously invested continue to participate in new projects.
Currently, Biograpi Living has five ongoing and two planned projects, with a combined value exceeding $500 million, demonstrating the company’s expanding footprint in Georgia’s high-end real estate market.
