Along with the recovery of economic activity and tourism inflow, the occupancy and turnover rates of the Tbilisi retail sector were restored.
Office
04.2022
During the Covid-19 pandemic, the occupancy rate of Tbilisi co-working spaces stood at 61%. In line with the increased capacity resulting from the opening of new spaces, the same occupancy rate was maintained in 2021.
Office
04.2022
The overall vacancy rate stands at 21%, implying a considerable increase in comparison with the pre-pandemic period.
Office
04.2022
The overall weighted average rent in Tbilisi modern Business Centres amounted to USD 14.8 per sq m, maintaining stability compared to 2019.
Office
04.2022
In parallel with the hybrid workflow, demand for office space has not diminished. In 2021, there was an unprecedented take-up (24 thousand square meters), exceeding the highest rate in 2018
Residential
04.2022
According to the issued construction permits, in the following years (2022-2025) the structure of supply might change in favour of the suburbs of Tbilisi, while the share of the city centre in the future supply will decrease.
Residential
04.2022
The prices of residential apartments are expected to continue to rise in the short term, which will be further affected by the effects of the Russia-Ukraine war.
Residential
04.2022
In 2021 a substantial upward trend is observable in rates, which should be attributed to the increased prices of construction materials, growing demand in the economy segment, as well as rising costs related to the regulatory changes.
Residential
04.2022
In 2021, The market size of residential flats in the suburbs has more than tripled compared to 2012. In the inner city as well as in the city centre the figure has doubled.
Residential
04.2022
In the last 10 years, the weighted average selling price of old flats in the city centre has not changed significantly.
Residential
04.2022
In the last decade, the price of newly built apartments in the suburbs is characterized by an increasing trend, reflecting an 11% growth in 2021 when compared to 2012.
Residential
04.2022
In 2021, the average selling price of newly-built flats in Tbilisi city centre* stands at USD 939 per sq m, in the inner city – USD 742 per sq m, in the suburbs – USD 578 per sq m.
