In 2023, in Tbilisi the number of transactions of residential flats amounted to 41,061 units, reflecting 8% YoY decline. However, market size increased by 5% standing at USD 2.5 billion, - according to the information, published by Colliers Georgia on Recov.ge.
As of the document, in 2023 the number of transactions in new projects decreased only by 4%. The figure for old flats features a 16% decrease compared to December 2022.
In December 2023, in Tbilisi the number of transactions of residential flats amounted to 3,827 units, reflecting 7% YoY decrease. However, market size increased by 4% standing at USD 246 millions.
In December 2023 the number of transactions in new projects decreased only by 1%. The figure for old flats features a 21% decrease compared to December 2022.
In 2023, the weighted average price of newly-built flats in Tbilisi has increased by 17% YoY in the suburbs, while a 12% and 15% increase was observed in the wide and city centre.
In 2023, the weighted average price of old flats in Tbilisi increased by 23% YoY in the suburbs, while 18% and 15% increase was observed in the wide and city centre.
Tbilisi Residential Apartment Market For 2023
Samgori - 8,643 apartments;
Saburtalo - 8,238 apartments;
Didi Digomi/Digomi - 6 712 flats;
Gldani - 4,729 apartments;
Nadzaladevi - 3,914 apartments;
Didube - 3,210 apartments;
Chugureti - 1,222 apartments;
Vake - 1,057 apartments;
Krtsanisi - 1,046 apartments;
Mtatsminda - 1,032 apartments;
Isani - 594 apartments;
Bagebi - 298 apartments;
Ponichala - 197 apartments;
Tskneti - 88 apartments;
Didgori - 81 apartments.
