The real estate market has "matured" and is undergoing some filtering, - the founder of the company "Real Estate Development Services " Givi Korinteli states.
According to him, the main players in the market are those who remember the financial crisis of 2008/09/2010 well.
"Let’s agree that crises are necessary for any market, at least so that we know how to manage a crisis. As for prices, construction has not become more expensive, the trend has been observed for three years."
At this stage, we can say that the price dynamics have returned to the level of three years ago. As of today, the sector is experiencing a downward trend in real estate prices.
It is also worth mentioning that supply and demand in the market have been adjusted, but banks are still cautious about financing new projects. But all this have certain reasons. This definitely does not mean that current construction is not being carried out or sales have declined, it is just that the median supply-demand has decreased slightly compared to previous years,” Korinteli notes.
