Colliers Georgia published a new report on Residential Real-Estate Recovery. As of the report, demand for the medium segment residential real-estate increased by 8% in October 2021.
The report reads, that in October 2021, the number of transactions recorded on economy new apartments saw 16% decrease compared to 2019, while the figure for the premium segment has decreased by 27% when compared to 2019.
According to Colliers Georgia, In October 2021, 3,141 transactions were registered in Tbilisi, that is 4% lower than the same period in 2019. As for the market size, the figure stands at USD 150 million, reflecting a 4% increase compared to 2019. In contrast with October 2020, the number of transactions has decreased by 1%, and the market size has been increased by 7%.
Moreover, in October 2021, 2,113 transactions were registered in new projects, that is 1% higher than the same period in 2019. While the number of transactions registered on old flats has decreased by 12% compared to 2019.
In October 2021, the market size of new flats has increased by 8% when compared to October 2019. As for the old flats, the figure stands at USD 45 million, decreasing by 5%.
