As of March 2024, the number of transactions of residential flats in Batumi has decreased by 20% to 1,185 units. The market size has declined by 14% standing at USD 56 millions, - according to the new report on Residential Real Estate published by Colliers Georgia.
In March 2024, the number of transactions of newly-built flats in Batumi has decreased by 18% year over year, while a 28% YoY decline rate has been observed in the case of old flats.
In March 2024 the weighted average price of newly-built flats in Batumi increased by 10% equaling USD 992 per sq m, while the figure for old flats recorded a 2% decrease to USD 689 per sq m.
As of the first quarter of 2024, the number of transactions of residential flats in Batumi has decreased by 24% to 3,374 units. The market size has declined by 20% standing at USD 152 millions.
