The cost of apartments in new buildings in Tbilisi, as well as demand, continue to rise.
According to Sakstat, new housing in Georgia's capital is expected to become 9.8% more expensive in 2024. Meanwhile Colliers Georgia reports that price growth has already exceeded 11%.
"In new buildings in the capital of Georgia last year, the average weighted price of apartments increased by 11.7% in residential areas, and in the center and near the center, growth of 4.6% and 3.5%, respectively, was recorded",
the company message reads.
Since 2020, prices for new real estate in Tbilisi have soared by 54.3%.
Housing on the secondary market is also becoming more expensive, with prices in the city center rising by 15%, and by 13% in residential areas.
Despite the rise in prices, demand is also growing. In the past year, 41,300 apartments were sold in Tbilisi, which is 2% more than in the previous year. The growth is driven by the demand for new housing, while sales on the secondary real estate market fell by 13%.
