BAKU, Azerbaijan, Nov. 23
By Tamilla Mammadova – Trend:
Apartment sales down in all Georgian districts with Gldani displaying the most resilience, followed by Samgori and Nadzaladevi, Trend reports via the TBC Capital.
According to the report, sales are down in all districts as of 10M2020, with the sharpest declines of sold units observed in Chughureti (-41 percent year-on-year), Saburtalo (-37 percent year-on-year), Mtatsminda (-37 percent year-on-year), and Krtsanisi (-37 percent year-on-year). As the tendency shows, Gldani, Samgori, and Nadzaladevi were relatively resilient. In these districts, the number of transactions decreased by 6 percent year-on-year, 20 percent year-on-year, and 20 percent year-on-year respectively.
“In absolute, Saburtalo and Didi Dighomi still lead the sales. Together, the two districts account for 34 percent of total residential space sold in Tbilisi as of 10M2020. Chughureti, Mtatsminda, and Krtsanisi are the least active districts, with 32,000, 38,000, and 41,000 m2 residential area sold in 10M2020, respectively,” the reports said.
Share of small apartment transactions by square meter marginally down in October.
According to the report, the homebuyers of the Tbilisi residential market mostly go for small and medium-size apartments. In October, purchased residential space averaged at 68 Sqm in the capital.
“In October, new properties with larger than 100 m2 area accounted for 28 percent of sales in Vake and 30 percent in Mtatsminda and Krtsanisi, while new units with less than 50 m2 space constituted 35 percent of transactions in Didi Digomi and Samgori – TBC Capital reports - Compared to 3Q2020, the share of properties with less than 70 m2 is down by 2 pp to 67 percent in October, at the expense of properties with larger than 70 Sqm area gaining the proportion,” the report said.
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