Tbilisi sees housing market fall

Tbilisi sees housing market fall

access_time2020-11-18 10:00:34

According to a study conducted by the local office of the global real estate service company Colliers International, in October 2020, 3,117 transactions were registered on the Georgian primary real estate market that is 5% less than in the same period of 2019.

Trading  volume decreased by 4% and amounted to GEL 139 million lari.

The study shows that the premium and medium segment saw the biggest  decline in sales – by 38% and 26%, respectively. It’s worth mentioning  that sales in the economy sector increased by 12% and amounted to 1,808 transactions.

The sales of new apartment decreased by 20% compared to October 2019, sales in the secondary housing market decreased by 26% and amounted to 7,079 transactions.

In January-October 2020, sales volumes of the primary real estate market decreased by 24% and amounted to GEL 666 million, the secondary real estate market - by 27% and amounted to GEL 281 million.


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