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Georgian real estate market records unprecedented activity

Business Materials 15 January 2011 10:16

Georgia, Tbilisi, Jan. 14 / Trend N.Kirtzkhalia /

In 2010, the real estate market of Georgia has recorded 405,959 registration transactions. The number of transactions grew by 2.1 percent compared to 2007, 17.1 percent- 2008 and 22 percent - 2009, the Georgian Public Registry reported.

In 2010, the increase in the number of registration transactions is also characterized by a tendency of growth compared the same periods of 2009: in January - by 32.2 percent, February -11.7 percent, March -35.8 percent, April - 40.1 percent, May - 52.8 percent, June - 30.9 percent, July - 16.8 percent, August - 13.3 percent, September - 5.6 percent, October - 4.5 percent, November - 18.4 percent and December - 22 percent. In December the number of transactions compared to the previous month increased by 30.6 percent.

Primary and secondary real estate markets increased also compared to the previous month, and the same period of 2009. In December 2010, the number of primary transactions amounted to 8,006, and secondary - 37,584 units.

With regard to the ratio of primary and secondary transactions, t the proportion of secondary transaction slightly increased: 82.4 percent of transactions carried out in December, accounted for secondary and 17.6 percent - the primary transaction.

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