Colliers Georgia published an updated report on the residential apartment segment on the special website recov.ge. As of the document, in November 2022, the number of transactions of residential flats amounted to 3,865 units in Tbilisi, reflecting 9% YoY growth. Market size increased by 28% standing at USD 214 millions.
In November 2022 the number of transactions in new projects increased by 10%. The figure for old flats features a 7% growth compared to November 2021.
In November 2022 the number of transactions of newly-built premium flats in Tbilisi has more than doubled, while an 67% growth was observed in the medium segment. As for the economy segment, the figure has decreased by 12%.
As of November 2022 the weighted average price of newly-built flats in Tbilisi has increased by 15% in the suburbs, while the figure grew by 13% in the inner city. As for the city centre, 14% growth is recorded.
As of November 2022 in Tbilisi the weighted average price of old flats has increased by 11% in the suburbs, while in the city centre and inner city 9% and 2% growth is observed.
