Foreign investments decrease three-fold in Georgia's real estate business in 2012

Business Materials 20 March 2013 17:23 (UTC +04:00)

Georgia, Tbilisi, March 20 / Trend, N. Kirtzkhalia /

Foreign direct investments worth $28.9 million were made in the Georgian real estate sector in 2012, the Georgian Statistics Agency said.

This figure is three times less than the previous year. Around $89.2 million was invested in this sector in 2011. No outflows of investments from businesses were registered in 2012. It was registered in the third quarter of 2011. Around $0.1 million in outflows were registered during this period.

Less foreign investments - $2.8 million were made in the first quarter of 2012. Their volume hit 8.9 million in the second quarter. It reduced again and hit $ 3.3 million in the third quarter.

The maximum rate of investments was fixed in the last quarter - $13.9 million.