Demand for real estate has declined slightly but doesn’t affect prices and downward trend is not observed - the head of the Georgian Real Estate Association Vazha Mebagishvili says.

“Prices depend on the location of the projects as there is a lack of many good locations. The land is expensive there that causes price hikes. The second is the rise in price of building materials. Migration also has an impact on the current situation, all these factors lead to an increase in demand and prices,” he notes.

In Mebagishvili’s words, demand has slightly decreased, as in previous months it grew in unison with migration, but still remains quite high.

Downward trends are not observed, it is difficult to predict, but amid a current demand, I cannot say that we will see a decline in prices in the near future,” Vazha Mebagishvili points out.