"Demand in the real estate market has grown," Apex Development Director Vladimir Robakidze said in an interview with Commersant.
According to Robakidze, demand traditionally slows down in June, but amid the ongoing geopolitical processes, the sector is expected to become more active in August given the increased activity of Israeli citizens.
"The demand on the market has grown, this month a foreign investor purchased quite a large number of apartments. In general, demand on the market depends on which company is at what stage of construction. If construction is at the initial stage, demand is high, but for finished objects it is gradually falling. Due to the interest-free internal installment, citizens are more active, at the completion stage it is difficult to make a one-time payment."
In June, demand in the real estate market generally slows down, in August the slowdown will be more significant, as in summer people are actively leaving the cities. However, we expect an increase in activity this August due to quite an acute military situation in the countries of the region and an increase in demand for real estate in Georgia.
"For example, a group from Israel bought several apartments at once. At the beginning of the Russian-Ukrainian war, there were pessimistic expectations, but we found ourselves in a different reality. Many people came from Russia and Ukraine that caused a significantl increase in demand for real estate. We now have similar expectations, the signs of which are already visible, in the last week we have been receiving many calls from foreign citizens," Vladimir Robakidze notes.
