BAKU, Azerbaijan, November 2
By Tamilla Mammadova – Trend:
Average prices on apartments were slightly down in 3Q2020 in Georgia, but likely result of budget/economy segment dominating the sales mix, Trend reports via the Georgian Galt & Taggart investment company.
New apartment prices were down in July (-8.6 percent year-on-year) and reduction eased in August (-7.6 percent year-on-year) and September (-5.9 percent year-on-year). However, the price reduction was most likely driven by the dominance of economy apartments in total transaction mix rather than market price correction.
Price volatility was higher in central districts, while remained relatively stable in suburbs in 3Q2020. Weighted average selling prices posted the following trend in 3Q2020:
- Saburtalo at $748 (-8 percent year-on-year)
- Didube at $681 (+2 percent year-on-year)
- Isani at $593 (+3 percent year-on-year)
- Didi Dighomi at $554 (-1 percent year-on-year)
- Gldani at $539 (+5 percent year-on-year).
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