Georgian citizens accounted for the majority of residential property purchases in Tbilisi in June, while foreign buyers represented only 10% of total transactions, according to a Colliers report on the capital’s housing market.
A total of 4,484 apartments were sold in Tbilisi in June, marking a 34.7% increase compared with the same month last year. The total market value reached $387 million, up by 53.9% year-on-year.
The average residential property price in Tbilisi stood at $1,314 per square meter in June, representing a 13.5% annual increase.
Colliers also reported strong growth in new housing projects, where transaction volumes increased by 46.6% year-on-year. Sales of newly built apartments rose by 54.7% on the primary market and by 36.5% on the secondary market.
