In May 2022 The weighted average price of newly-built flats in Batumi decreased insignificantly equaling USD 873 per sq m, while the figure for old flats decreased by 9.7%, standing at USD 621 per sq m.

2021 was a quite challenging year for Shopping Centres. Despite the increased vacancy in several Shopping Centres, the overall rate remained stable due to considerably decreased vacancy at City Mall Saburtalo. As for the rental rates, a decrease is observable in particular Shopping Centres, however, due to exceptional cases, the overall picture has not changed significantly.

High streets turned out to be exposed to the pandemic, in terms of increased occupancy rates and slightly decreased weighted average rents. However, Pekini avenue appeared to be most resistant achieving USD 32.1 per sq m and occupancy at 6%.

Along with the recovery of economic activity and tourism inflow, the occupancy and turnover rates of the Tbilisi retail sector were restored.

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.

The overall vacancy rate stands at 21%, implying a considerable increase in comparison with the pre-pandemic period.

The overall weighted average rent in Tbilisi modern Business Centres amounted to USD 14.8 per sq m, maintaining stability compared to 2019.

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

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.

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.

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.

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.