Galt&Taggart published a report on Regional Residential Real Estate. According to the document, in 2023, the number of apartments sold in Bakuriani reached 956 units, down 26.1% y/y (due to the record high base in 2022).
Total of 14 residential projects are currently under development in Bakuriani and most of them are located near the Kokhta Mountain. In 2023, small-sized apartment (26-50 m2) sales accounted for 77.7% of total sales, in line with existing trend. Moreover, half of the sold apartments were recorded in the midscale price segment ($801-1,200).
By end-2023, weighted average price of apartments in Bakuriani was up slightly by 2.7% y/y. Total market size of apartments sold in Bakuriani stood at US$ 42.0mn, down by 20.6% y/y, mostly due to reduced transactions on the primary market.
