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We Expect A Slight Price Change in The Real Estate Market - "Archi"

30.05.23 14:00
Shio Khetsuriani, General Director of "Archi" expects an insignificant price increase in the real estate market in the near future.

The representative of the development sector notes that the cost of construction has become significantly expensive in the post-pandemic environment and the Russia-Ukraine war.

"Law On Energy Efficiency will come into force soon. "Archi" has been building with energy-efficient blocks for more than 10 years, so the cost will not increase for us. However, prices will grow in the market, as most companies do not use energy-efficient materials. In addition, it is likely that if there is a demand in the market, which determines the price, the value of the real estate will increase," said Khetsuriani.

According to TBC Capital, the average selling price of 1 m² of living space stood at USD 1,092 in Tbilisi, while USD 1,159 - in Batumi.