BAKU, Azerbaijan, November 8
By Tamilla Mammadova – Trend:
Prices for apartments in lari increased by 6.6 percent, while in dollars and euros they fell by 4 percent and by 0.8 percent respectively in Georgian capital Tbilisi in the third quarter 2019 compared to the same period of 2018, Trend reports citing a study of TBC Group at Georgian TBC Bank.
Experts believe that prices in foreign currency will continue to decline. This is associated with tightening of lending rules since January 2019.
People buy mostly new housing. From January through September, over 15,100 new apartments and houses with a total area of 1.1 million square meters were sold in Tbilisi, which is 1.9 percent less compared to the same period last year.
As for secondary housing, from January through September, about 9,400 apartments and houses with a total area of 600,000 square meters were sold, which is 7.8 percent less compared to the same period last year.
The number of permits for the construction of apartment buildings amounted to 149 permits, 40 percent more compared to the same period last year.
The total area of housing increased by 81 percent and amounted to 703,000 square meters.
Most permits were issued in the areas of Didi Digomi (41 permits), Saburtalo (26 permits) and Samgori (19 permits), while least of all in Krtsanisi (four permits), Chugureti (four permits) and Didube (seven permits).
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