Residential
Updated: March 16, 2021
In February 2021, 688 transactions were registered in Batumi, decreasing by 16% in contrast with the same figure of 2020.
As for the market size, the figure amounted to USD 26 million, reflecting also 16% drop compared to the same period of the previous year.
Updated: March 16, 2021
In February 2021, 608 transactions were registered in new projects, that is 14% lower than the same period of the previous year. As for the number of old flat transactions, the figure dropped by a massive 31%, amounting only 80 units.
Updated: March 16, 2021
The market size of new flats saw a 10% decrease when compared to the previous year, amounting to USD 24 million.
As for the old flats, the figure fell almost twice in contrast with February 2020, standing at USD 3 million.
Updated: March 16, 2021
The number of transactions recorded on economy new apartments saw a 13% decrease, while medium category flats dropped by 30%, when compared to the same figure of 2020. On the other hand, premium segment new flats recorded an insignificant 10% increase.
Updated: June 4, 2020
We have divided the residential market into the following price segments: Economy, Medium, and Premium. We have further analyzed the base scenario with moderate isolation until the end of 2020.
The prices of economy segment residential properties are not expected to change significantly , while the number of transactions in this category is forecast to drop. We expect the demand on economy class single-family houses to soar in the isolation period.
The projections are negative for the medium segment residential market in terms of the number of transactions and prices. Speculative transactions are expected to increase in the medium market due to decreased prices.
The number of transactions is expected to drop in the premium segment, but we anticipate very little price change in this category. The market of rental properties will be most affected, as both, prices and the number of transactions are expected to drop by the end of the year.
*Distressed Real Estate with potential to increase prices
Economy - Apartments < $800 per m². Private Houses - < $70,000
Medium - Apartments $800 - $1,200 per m²; Private Houses - $70,000 - $200,000
Premium - Apartments +$1,200 per m²; Private Houses: > $200,000