In December 2024, the number of transactions on Tbilisi residential real estate market amounted to 3,940, posting a 7% increase in annual terms. The cumulative number of sold properties in 2024 was 2% higher compared to 2023, - according to the report published by TBC Capital.
In December, the asking sale price stood at USD 1,223, barely changing relative to December 2023 (+1%, YoY). There was a 2% decline recorded relative to November 2024. The market size reached USD 2318 mln in value, which resulted in a 6% increase in annual terms.
In December 2024, 981 new apartments were sold, which was a considerable growth in annual terms (+48%). As for old apartments, a total of 2,959 transactions were made, posting a 2% decline relative to December 2023. Therefore, the share of new apartments in total sales increased to 25%, marking the highest figure for the year.
The average sale prices increased by 2% for both new and old apartments in annual terms, while there was a 2% decrease compared to previous month.
The apartments ranging from 50 to 75 SQM represented the biggest portion (42%) of the total apartments sold, although the share declined compared the previous year. The flats above 125 SQM had a 5% share, same as in December 2023.
The share of high price apartments (>1500 $/SQM) in total property sales amounted to 23% (+5pp, YoY).
In December 2024, the highest number of residential properties sold in Tbilisi were once again in Didi Dighomi (a 26% share in total transactions), followed by Saburtalo (a 16% share in total transactions).
In terms of new apartment sales, a significant annual growth rate was observed in Didube, Krtsanisi, Gldani and Chughureti. the highest number of new, as well as old apartments were sold in Didi Dighomi.
In December 2024, the average sale price per SQM in Mtatsminda and Vake stood around USD 2,000. There was a positive annual growth for apartment prices in the majority of districts.
