Interest in Georgian property investment rises.

76% of the sales of apartments in Tbilisi come to Georgian citizens - the share of Russian citizens decreased, while the share of Israeli citizens increased, it was noted in the Galt and Taggart study. "In July 2024, we conducted a survey of 14 system developers, which included 67 ongoing construction projects in Tbilisi.

According to the survey, dynamics improved in June 2024 and apartment sales increased by 17.7% compared to the previous month, when the decline was caused by the abundance of holidays and instability in the country. The improvement of sales in June is noteworthy in the background that a large part of the purchasing power population was not in the country during Euro 2024 (June 18-30). Despite this unfavorable dynamics, it is worth noting that the number of apartments sold in June is significantly lower than the figures of sales recorded in previous months (except May).

In addition, in half of the first projects of the 2024 developer year, 76% of the total sales came to Georgian citizens, which is reduced from the 80% share of the previous year. It should be noted that the share of Israeli citizens in sales has increased significantly from 4% to 11%, while the share of Russian citizens has decreased from 8% to 2%," the research notes.