Georgian developer Blox expects real estate prices to continue rising, with property values typically increasing by 20–30% between the start and completion of construction, according to the company’s Head of Sales, Tamar Kacharava.
In an interview with BM.GE, Kacharava said that while prices have stabilized to some extent over the past two years, historical trends point to further growth. She noted that property values have generally increased from year to year, prompting the company to anticipate another rise.
Kacharava also highlighted the changing expectations of homebuyers, saying developers can no longer offer customers “just four walls.” Buyers increasingly value well-developed infrastructure, landscaped courtyards, recreational areas, co-working spaces, and indoor and outdoor facilities for children and entertainment. She said these features, alongside the apartment itself, determine a project’s overall quality and the living environment residents can expect upon completion.
According to Kacharava, Georgian citizens and local residents account for the majority of buyers in Blox projects, while non-residents make up approximately 10–15%. Among foreign buyers, the largest groups come from Israel, the United Arab Emirates, and European countries. She added that foreign interest is growing year by year, although demand varies depending on the project and its location.
