Kutaisi's residential real estate market is experiencing rapid growth, with more than 40 new development projects currently under construction and another 30-plus projects in the pipeline, according to Giorgi Zhorzholiani, Managing Partner at Prospect.
Speaking to BMG, Zhorzholiani said demand has shifted significantly from secondary housing to newly built residential complexes over the past few years. Buyers include local families looking to upgrade their homes, returning emigrants investing in property, and investors purchasing apartments for rental income or capital appreciation.
He attributed Kutaisi's growing appeal to several factors, including relatively affordable land prices compared to Tbilisi and Batumi, strong development potential, and the city's international airport, which continues to see rising passenger traffic and supports investment demand.
According to Prospect, apartment prices in Kutaisi have increased by around 25% over the past three to four years, driven by stronger demand, higher construction material costs, and rising labor expenses. Economy-class apartments currently sell for an average of $900–1,000 per square meter, while premium projects have reached around $1,300 per square meter.
