Colliers Georgia published a new report on residential apartments. According to the report, in May 2022, in Tbilisi the number of transactions of residential flats amounted to 3,398 units, reflecting 56% YoY growth. Market size increased by 69% standing at 168 mln USD.
According to the data, published on Recov.ge, in May 2022 the number of transactions in new projects in Tbilisi increased by 66%, mainly driven by a significant increase in medium and premium segments. The figure for old flats features a 39% growth compared to May 2021.
In May 2022 the number of transactions of newly-built medium flats in Tbilisi has more than doubled, while a 44% increase was recorded in the economy segment. As for the premium segment, the figure has more than tripled (274% increase) Y-o-Y basis.
“The weighted average price of newly-built flats in Tbilisi has significantly increased by 14% in the inner city of Tbilisi, while in the suburbs and city centre the figure grew by 10% and 3%, respectively. As for the old flats, the weighted average price has increased by 12% in the inner city, while in the city centre and the suburbs by 8% and 5%”, - the report reads
