Construction costs in Georgia's Tbilisi increase

Georgia 25 January 2022 17:00 (UTC +04:00)
Construction costs in Georgia's Tbilisi increase

BAKU, Azerbaijan, Jan. 25

By Maryana Akhmedova – Trend:

The cost of construction in Georgia’s Tbilisi has increased by 35-40 percent, Trend reports via Georgian media.

At the same time, a new trend emerged in the market and construction shifted from the center to the suburbs and the outskirts of Tbilisi. For example, in the suburbs the cost ranged from $500 to $700 per square meter.

Since large-scale projects are being implemented less often, and the demand increased for small houses, construction companies might suffer.

Meanwhile, according to National Statistics Office (Geostat), the prices for apartment buildings in Georgia in the fourth quarter of 2021 increased by 2.3 percent, compared to the previous quarter of 2021, and by 1 percent, compared to the same period of 2020.

The prices for private houses in the reporting period of 2021 increased by 1.6 percent, compared to the third quarter of 2021, as well as compared to the fourth quarter of 2020.


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