Demand for land plots in suburbs  increased due to COVID-19 outbreak

Demand for land plots in suburbs increased due to COVID-19 outbreak

access_time2020-06-02 16:21:45

Despite the coronavirus pandemic had a negative impact on almost all sectors of the economy, demand for land plots in suburbs  increased keeping the prices  stable.

There is supply  in various price segment on the market - the price depends on factors such as the proximity of the land plot  to the main transport arteries, public transport stops, the state of infrastructure in the district and uninterrupted supply of electricity, gas and water.

The cost of the land plots in the most prestigious districts  starts at $ 6 and ends at $ 100 per square meter.

The statistics on the site of free ads also shows a growing demand for suburban land plots - as it turned out, in March 18 126 people watched the ads for the sale of land, in April - 22 051 and 25 994-  in May.

In the words of the head of the real estate agency modern real estate and the head of the Georgian Real Estate Association Nata Modebadze, the pandemic has  significantly increased demand for this land.

“We’ve interviewed real estate companies and private brokers  and the study showed that the demand for land outside the city has really grown. If  before the pandemic, 10 people in a week asked us to help buy a land plot, now their number reached to 100, ”she explains.

At the same time, demand for land plots for construction in large cities has decreased  as developers cannot predict how the situation will develop and refrain from buying the land.

“The demand for agricultural land has also grown due to  the COVID-19 outbreak as many want to have their own land plots to grow products for their own consumption in case of shortages,”  Nata Modebadze notes.


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