The number of transactions of residential flats in Batumi decreased in January, while the average price of residential real estate increased. This is mentioned in the January overview of residential apartments in Batumi published by Colliers Georgia on Recov.ge.
As of January 2024, the number of transactions of residential flats in Batumi has decreased by 22% up to 1,069 units. The market size has declined by 20% standing at USD 46 millions.
In January 2024, the number of transactions of newly-built flats has decreased by 17% year over year, while a 49% YoY decline rate has been observed in the case of old flats.
In January 2024 the weighted average price of newly-built flats in Batumi increased only by 1% equaling USD 932 per sq m, while the figure for old flats recorded a 7% increase up to USD 718 per sq m.
