In September 2022, the number of transactions of newly-built flats has grown by 51% year over year, while a 21% YoY growth rate has been observed in the case of old flats.

In September 2022, the demand has almost doubled for the premium segment of newly-built residential flats, up to 311 units. While the figure for medium and economy flats has increased by 55% and 36%, respectively.

In September 2022 the weighted average price of newly-built flats in Batumi increased by 14% equaling USD 886 per sq m, a 10% growth rate was recorded in the case of old flats standing at USD 678 per sq m.

According to the first 9 months of 2022, in Tbilisi the number of transactions of residential flats amounted to 31,023 units, reflecting 21% YoY growth. Market size increased by 35% standing at USD 1.5 billion.

In January-September of 2022, the number of transactions in new projects in Tbilisi increased by 24%, mainly due to the increased demand in medium and premium segments. The figure for old flats features a 16% growth compared to January-September of 2021.

As of January-September of 2022 the number of transactions of newly-built medium flats in Tbilisi has doubled, while a 137% growth was observed in the premium segment. As for the economy segment, the figure has increased only by 5%.

According to the 9 months of 2022, the weighted average price of newly-built flats has increased by 11% in the centre and inner city of Tbilisi, while the figure grew by 9% in the suburbs. As for the old flats, the weighted average price has increased by 8% in the suburbs, while in the city centre and inner city 7% growth is observed.

According to the last 9 months of 2022, the number of transactions of residential flats in Batumi has increased by 37% up to 12,094 units. The market size has increased by 34% standing at USD 503 millions.

In January- September of 2022, the number of transactions of newly-built flats in Batumi has grown by 36% year over year, while a 44% YoY growth rate has been observed in the case of old flats.

As of January-September of 2022, the demand for newly-built medium flats in Batumi has increased by 50% year over year basis. The number of transactions has increased by 37% in the economy segment, while a 15% growth is recorded in the demand for premium newly-built flats.

According to the last 9 months of 2022 the weighted average price of newly-built flats in Batumi decreased by 1% equaling USD 864 per sq m, a 6% growth was recorded in the case of old flats standing at USD 668 per sq m.

In August 2022, in Tbilisi the number of transactions of residential flats amounted to 3,689 units, reflecting 26% YoY growth. Market size increased by 44% standing at USD 190 mln.