Rustavi residential real estate market is experiencing a surge in demand. Those who do not have the budget to buy an apartment in Tbilisi choose Rustavi, where the price of residential property is relatively low. The cost per square meter is less than 100- 150 dollars, although the buyer may be lucky and pay less if they purchase the property at the construction stage.
Irma Elbakidze, a member of the board of the National Real Estate Association, told Commersant that demand for real estate in Rustavi is growing as a result, apartment prices will rise.
“Prices in Rustavi will definitely rise. According to our analysts, if you look at last year’s data, where a square meter could be purchased for $600-700, now a buyer will no longer be able to buy at the same price. Accordingly, they will definitely rise. Compared to Tbilisi, apartment prices in Rustavi are about $100-150 lower per square meter. In some cases the price per square meter in Rustavi is $1,000. Buyers can buy apartments for $900-950 if they go pre-sales, that is, when the foundation is being laid,” says Irma Elbakidze.
Several factors have caused the interest of those wishing to purchase real estate in Rustavi. One of them is low prices. The second is the urban development and the infrastructure improvement in the city. Another reason is the public transport development thanks to which the time needed to get from Rustavi to Tbilisi has become almost the same as the time needed for a resident of the Tbilisi outskirts to get to the downtown.
"For those who come to Tbilisi from the east, especially students or those who work in Tbilisi, Rustavi is very interesting because of the well organized transport system," Irma Elbakidze points out.
