Real estate prices are still rising. TBC Capital predicts that the price of real estate for sale will increase by 18% in 2023, while the rent - by 28%. In both cases, the main determinant will remain the demand generated by migrants.
"According to our forecast, the sale price will increase by 18% and the rent price will continue to increase, but not to the extent that it was in 2022. Our guess is that it will be within 28%.
In both cases, demand generated from migrants will remain the main determinant this year as well. A certain part of those who live on rent will decide to buy an apartment this year. The second scenario should also be considered if additional migrants enter the country. It depends on how events will develop in the near future, including whether mobilization will be announced or not, etc", - said Irine Kvakhadze, Head of Research of "TBC Capital".
