Interest from the Middle East and Israel in Georgia’s real estate market has increased recently, according to Levan Diasamidze, director of Ibercompany. He says Georgia is becoming an attractive alternative even to traditional markets such as the UAE.
“The UAE no longer looks as attractive to investors as it once did. If we offer a good, competitive product in time, these investors could shift to Georgia. This is an important momentum we should not miss,” Diasamidze told BMG.
He said the most active investment groups currently come from Israel and the Middle East, while interest from CIS countries remains stable. Diasamidze does not expect significant growth in demand from Russia or Israel, noting that Israeli buyers already account for a substantial share, while Russian demand represents around 2–4% of total sales.
According to Diasamidze, rising real estate prices are driven by higher construction costs, economic growth and purchasing power, as well as continued access to bank mortgages. He expects no sharp price increases by year-end, forecasting stable annual growth of around 1–3%. Ibercompany is also expanding, with two major projects underway: Coral Batumi, a premium residential complex, and a large-scale project in Varketili, construction of which is scheduled to begin in October.
