In June 2022 the demand has increased by 24% in the medium segment of newly-built residential flats in Batumi, up to 595 units. While the figure for economy and premium flats has decreased by 2% and 10%, respectively.

In June 2022 the weighted average price of newly-built flats in Batumi decreased insignificantly equaling USD 856 per sq m, while the figure for old flats slightly increased by 2%, standing at USD 663 per sq m.

In the first half of 2022, in Tbilisi the number of transactions of residential flats amounted to 19,854 units, reflecting a 20% YoY growth. Market size increased by 33% standing at USD 980 mln.

In the first half (H1) of 2022 the number of transactions in new projects in Tbilisi increased by 22%, mainly driven by a significant increase in medium and premium segments. The figure for old flats features a 16% growth compared to H1 2021.

In the first half of 2022 the number of transactions of newly-built premium flats in Tbilisi has more than doubled, while a 95% increase was recorded in the medium segment. It should be noted that in the medium segment about 24% of the increase should be attributed to the completion or deliveries of residential developments. As for the economy segment, the figure has increased by only 9%.

In the first half of 2022, the weighted average price of newly-built flats in Tbilisi has increased by 9% in the suburbs and city centre of Tbilisi, while in the inner city the figure grew by 7%. As for the old flats, the weighted average price has increased by 7% in the suburbs, while in the inner city and city centre 6% growth was observed.

In the first half of 2022, the number of transactions of residential flats in Batumi has increased by 34% up to 7,272 units. The market size has increased by 30% standing at USD 304 millions.

In the first half of 2022, the number of transactions of newly-built flats has increased by 28% year over year, while the figure for old flats has grown by 72% up to 1,156 units.

In the first half of 2022, the demand has significantly increased by 42% in the medium segment of newly-built residential flats in Batumi, up to 2,742 units. While the figure for economy and premium flats has experienced 19% and 17% growth compared to the first half of the previous year.

In the first half of 2022, the weighted average price of flats in Batumi decreased insignificantly. The figure for new flats has declined by 4% equaling USD 827 per sq m, while old flats experienced a 1% decrease amounting to USD 663 per sq m.

During the last three months of 2022 based on the observations on two main platforms of Virtual Real Estate (Decentraland; Sandbox) average value of a transaction decreased to $4,000. The drop in value is linked to the depriciation of the crypto, which was used for trading on the platforms.

In May 2022, in Tbilisi the number of transactions of residential flats amounted to 3,398 units, reflecting 56% YoY growth. Market size increased by 69% standing at 168 mln USD