In September 2023, in Tbilisi, the number of transactions of residential flats amounted to 3,136 units, reflecting a 21% YoY reduction. Market size decreased by 20% standing at USD 169 million.
According to updated data by Colliers Georgia on Recov.ge, the size of the residential apartment market has decreased by 10% to USD 216 million.
In October 2023, in Tbilisi the number of transactions in new projects decreased by 19%. The figure for old flats features a 22% decrease compared to October 2022.
According to the review of the residential real-estate market, the average value of this type of real estate has increased in both old and new apartments.
"In the first 10 months of 2023, the weighted average price of old flats in Tbilisi increased by 24% YoY in the suburbs, while a 17 and 16% increase was observed in the wide and city centre.
In the first 10 months of 2023, the weighted average price of old flats in Tbilisi increased by 24% YoY in the suburbs, while a 17 and 16% increase was observed in the wide and city centre", - the document reads.
