As of December 2024 the weighted average price of newly-built flats in Tbilisi has increased by 13% in the Wide centre, 10% growth was observed in the suburbs, while in the city centre 1% increase was witnessed.
In 2024 the number of transactions in new projects increased by 8.5%. The figure for old flats features a 13% decrease compared to 2023.
In 2024, the weighted average price of old flats in Tbilisi increased by 13% YoY in the suburbs and the wide centre, 15% increase was observed in the wide and city centre.
In 2024, in Tbilisi the number of transactions of residential flats amounted to 41,284 units, reflecting an 2% YoY growth. The market size increased by 12% standing at USD 2.8 billions.
In December 2024 the weighted average price of newly-built flats in Batumi increased by 11% equaling USD 1,114 per sq m, while the figure for old flats recorded a 0.2% increase to USD 985 per sq m.
In December 2024 the number of transactions in new projects in Tbilisi increased by 14%, this growth is attributed to 26% growth in primary transactions (sales by developer), while secondary transactions decreased by 2%. It should be noted that part of the transactions in new projects are registered later by developers. The figure for old flats features a 13% decrease compared to December 2023.
In December 2024, in Tbilisi the number of transactions of residential flats amounted to 4,039 units, reflecting 7% YoY increase. Market size increased by 16% standing at USD 292 millions.
As of December 2024 in Tbilisi the weighted average price of old flats has increased by 16% in the suburbs, in the wide centre and city centre 18 % and 23% increase was witnessed.
