Colliers Georgia published a new report on residential apartments. According to the report, a number of transactions of residential apartments is sharply grown in May 2022.
According to the data, published on Recov.ge, as of May 2022, the number of transactions of residential flats in Batumi has substantially increased, reflecting a 70% growth up to 1,436 units. The market size has increased by 66% standing at USD 59 million.
"A sharp increase in the number of transactions was observed in Batumi in all segments of newly built apartments. The number of transactions in economy segment apartments increased by 63%, medium and premium apartments - by 71% and 84%, respectively. The average price of newly built apartments in Batumi decreased slightly to USD 873 per square meter in May 2022. In the case of older apartments, there was a 9.7% decrease and the figure equaled to USD 621, "- said in an updated review of residential apartments.
