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Georgian housing market on decline again, following March growth

Business Materials 22 June 2021 18:42 (UTC +04:00)
Georgian housing market on decline again, following March growth

BAKU, Azerbaijan, June 22

By Tamilla Mammadova – Trend:

The Georgian housing market has started to decline again in May after the growth observed in March, Trend reports via the Colliers international Georgia real estate service company.

As reported, 2,161 transactions were carried out on the real estate market in Tbilisi in May 2021 that is 25 percent less than in the same period of 2019.

Apart from transaction number declines, the market volume has also decreased by 29 percent, to 101 million lari ($32.01 million).

In May 2021, a total of 1,380 transactions were carried out in the primary market that is 30 percent less than in the same period in 2019; the secondary market saw a 17 percent decline.

In May 2021, the financial volume of the primary housing market decreased by 37 percent, secondary by 10 percent and amounted to to 35 million lari ($11.09 million).

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