BAKU, Azerbaijan, Sept. 10
By Tamilla Mammadova – Trend:
The real property market increased significantly (259 percent year-on-year) in Georgian Batumi and (153 percent year-on-year) Kutaisi in 2Q2021, Trend reports via the ISET-PI, a think-tank based at the International School of Economics of Tbilisi.
As reported, 3,724 transactions were registered in Batumi and 844 in Kutaisi.
The Residential Sales Price Index (SPI) for Batumi residential properties increased by 1.4 percent (year-on-year)) and settled at 83.5 index points in 2Q2021.
Compared to the previous quarter, the Batumi SPI decreased by 1.5 percent (quarter-on-quarter).
For Kutaisi, the SPI increased by 2.2 percent (year-on-year) and amounted to 126.9 points. Compared to the previous quarter, the Kutaisi SPI decreased by 6.1 percent (quarter-on-quarter).
In 2Q2021, the Average Sales Price (ASP) of residential properties decreased by 4.9 percent year-on-year (3.1 percent quarter-on-quarter) in Batumi and increased by 11 percent year-on-year (-4.1 percent quarter-on-quarter) in Kutaisi, amounting to $711 and $438 per m2, respectively.
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