As of August 2023, the number of transactions of residential flats in Batumi has decreased by 11% to 1,422 units. The market size has decreased by 17% standing at USD 56 millions, - according to Colliers International.
In August 2023, the number of transactions of newly-built flats has declined by 8% year over year, while a 41% YoY decrease has been observed in the case of old flats.
In August 2023, the number of transactions decreased by 29% in the case of medium newly-built flats. The figure for the premium and economy segments experienced a slight decrease.
In August 2023, the weighted average price of newly-built flats in Batumi increased by 20% equaling USD 984 per sq m, while the figure for old flats recorded a 3% increase up to USD 728 per sq m.
