Levan Bolkvadze, founder of Reinvest declares, that the average price of commercial space for sale in Batumi ranges within $1,300-1,500. However, he notes, that the selling price in top locations with 6-meter ceilings is twice as high.
As for rent, prices are around $20-25.
“In our segment, the price fluctuates within $1,300-1,500, below which there are more affordable real estate properties for the local market.
This price significantly lags behind the price in international markets. For example, if we take the Dubai market, because it is stable, the price is three times lower. The average price is within $5,000 per square meter in Dubai. I think that the real estate in Batumi will be fully loaded in 1-2 years, which will increase the price significantly.
As for rent, the cost here is about $20, depending on the location. In some interesting locations, for example, near the stadium, which is the development area of New Batumi, it fluctuates within $25. As for the price of real estate for sale here, is within $3000-3500, in this case we are talking about spaces with a 6-meter ceiling height, which provides other opportunities,” Bolkvadze said.
