Russian demand  in Georgian real estate market fell

Russian demand in Georgian real estate market fell

access_time2020-01-21 11:50:56

The head of the Georgian National Association of Real Estate Vazha Mgebrishvili says that the citizens of Israel and Iran are most interested in buying real estate in the country in the recent period. After the June events, Russian demand decreased but remains high enough.

 As it turned out, preference is given to housing in the center of Tbilisi, especially in the old city.

 “The demand for Georgian real estate from foreigners is quite high. Citizens of European countries show their interest as well, but still it is higher from Israel, Iran, Qatar and other Middle Eastern countries. As for the Russians, before the June events, demand was very high, especially for expensive assets. Nevertheless, despite the demand decreased, it still remains considerable, especially in housing in the center of Tbilisi,” Vazha Mgebrishvili explains.

In his words, in the first half of 2019, foreigners accounted for 8% of the total real estate sales in Georgia, which is drastically  less than in 2018, when citizens of other countries bought 13% of the total real estate in Georgian.


 Real estate  in Tbilisi and Batumi  is traditionally the most popular.



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