As of May 2023, the number of transactions of residential flats in Batumi has decreased by 10% to 1,335 units. The market size has increased by 1% standing at USD 62 millions, - according to the report published by Colliers Georgia.
According to the report, in May 2023, in Batumi the number of transactions of newly-built flats has declined by 10% year over year, while a 7% YoY decrease has been observed in the case of old flats.
In May 2023, in Batumi the number of transactions of premium newly-built flats increased by 25% YoY. The figure for the economy and medium segments decreased by 21% and 15% compared to May 2022.In May 2023, the weighted average price of newly-built flats in Batumi increased by 15% equaling USD 926 per sq m, while the figure for old flats recorded 12% increase up to USD 732 per sq m.
