In the third quarter of 2023, in Tbilisi, the number of transactions of residential flats amounted to 10,114 units, reflecting a 13% YoY reduction, - according to the report published by Colliers Georgia. Market size decreased by 11% standing at USD 549 millions.
As of the data, published on Recov.ge, in the third quarter of 2023, the number of transactions in new projects decreased by 7%. The figure for old flats features a 23% decrease compared to the third quarter of 2022.
As of September 2023 weighted average price of newly-built flats in Tbilisi has increased by 6% in the suburbs, by 7% in the wide center and only 1% growth is recorded in the city centre.
In September 2023, in Tbilisi the number of transactions of residential flats amounted to 3,136 units, reflecting a 21% YoY reduction. Market size decreased by 20% standing at USD 169 millions.
