In the first half of 2023, in Tbilisi, the number of transactions of residential flats amounted to 20,026 units, reflecting only a 2% YoY reduction.
According to Colliers Georgia's report published on Recov.ge, market size decreased by 5% standing at USD 1.1 billions.
In the first half of 2023, the number of transactions of newly-built premium flats in Tbilisi has increased by 44%, while a 28% growth was observed in the medium segment. As for the economy segment, the figure has decreased by 15% recording 7,890 units. In the first half of 2023, the number of transactions in new projects decreased by 0.4%. The figure for old flats features a 6% decrease compared to the first half of 2022.
As of June 2023, the weighted average price of newly-built flats in Tbilisi has increased by 6% in the suburbs, by 1% in the wide centre, a 9% growth is recorded in the city centre.
As of June 2023 in Tbilisi the weighted average price of old flats has increased by 4% in the suburbs, while in the wide centre and the city centre 7% growth is observed.
In the first half of 2023, in Tbilisi the weighted average price of old flats has increased by 6% in the suburbs and city centre, while in wide centre 3% growth was observed.
