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Tbilisi sees increase in number of real estate transactions

Business Materials 22 September 2021 19:55 (UTC +04:00)
Tbilisi sees increase in number of real estate transactions

BAKU, Azerbaijan, Sept. 22

Tamilla Mammadova – Trend:

Some 2,902 transactions were recorded on the Tbilisi real estate market in August 2021, that is 7 percent more than in the same period of 2019, Trend reports via the Colliers International Georgia.

According to the research, the market grew by 12 percent and amounted to $132 million. At the same time the number of transactions increased by 24 percent compared with July and amounted to 37 percent.

In August 2021, 1,862 transactions were registered in the primary market that is 7 percent more than in the same period of 2019, a volume of transactions on the secondary market grew by 8 percent.

The primary real estate market grew by 15 percent compared to the same period of 2019, a volume of transactions on the secondary real estate market amounted to $41 million that is 8 percent more than in the same period of 2019.

According to the report, sales in the economy segment of the real estate market increased by 3 percent compared to August 2019, in the medium segment – by 22 percent.

In 8 months of 2021, the medium segment has recovered by 77 percent in comparison with the same period of 2019.

Sales in the premium segment grew by 3 percent in August 2021 compared to August 2019.

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