In November 2022 the weighted average price of newly-built flats in Batumi increased by 21% equaling USD 888 per sq m, while the figure for old flats recorded a 4% increase up to USD 739 per sq m, - according to the report published by Colliers Georgia.
As of November 2022, the number of transactions of residential flats in Batumi has increased by 67% up to 1,632 units. The market size has increased by 84% standing at USD 74 million.
In November 2022, the number of transactions of newly-built flats has grown by 71% year over year, while a 37% YoY growth rate has been observed in the case of old flats.
In November 2022, the demand considerably increased in the case of medium and premium newly-built flats, recording 80% and 171% YoY growth rates. The figure for the economy segment increased by 45% amounting to 761 units.
