Decrease in sales
- According to Colliers Georgia, the number of apartments sold in Tbilisi in the first quarter decreased by 3% (hereinafter – compared to the same period in 2023).
- The decline in sales in March was more pronounced: by 11% compared to March 2023.
Rising prices
- Despite the decline in sales, real estate prices in the capital of Georgia have increased.
- The average sales price of new buildings increased by 8% in the suburbs and by 3% in the city center.
- Prices for older apartments also increased – by 10% in the suburbs and 7% in the center.
New buildings and secondary construction
- In the first quarter, there was an increase in transactions in new projects by 4%, while sales in old projects decreased by 16% compared to the first quarter of 2023.
- In March, sales in new projects decreased by 4%, and in old ones – by 25%.
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