In July 2024, a 6% increase in transactions in new projects in Tbilisi
2024-08-16
In July 2024, a 6% increase in transactions in new projects in Tbilisi is recorded. In old projects, compared to July 2023, the rate has decreased by 12%.
In July 2024, the weighted average sale price of newly built apartments in Tbilisi increased by 9% in the suburbs and the wider center, and a 7% increase was recorded in the city center.
In July 2024, the weighted average selling price of old apartments in Tbilisi increased by 10% in the suburbs and the city center. A 14% increase was recorded in the broad center.
In July 2024, the number of residential apartment transactions in Batumi increased by 5% compared to July of last year to 1,247 units, and the market size increased by 16% to 68 million USD.
In July 2024, the number of residential apartment transactions in Tbilisi amounted to 3,597 units and compared to July of the previous year, a 1% increase was recorded. The market size has increased by 10% to 242 million USD.
In June 2024, the weighted average selling price of newly built apartments in Tbilisi increased by 12% in the suburbs, while in the city center and the wider center, an increase of 6% and 4% was recorded.July Updates on Sales
2024-08-14
In July 2024, a 6% increase in transactions in new projects
in Tbilisi is recorded. In old projects, compared to July 2023, the rate has
decreased by 12%.
In July 2024, the weighted average sale price of newly built
apartments in Tbilisi increased by 9% in the suburbs and the wider center, and
a 7% increase was recorded in the city center.
In July 2024, the weighted average selling price of old
apartments in Tbilisi increased by 10% in the suburbs and the city center. A
14% increase was recorded in the broad center.
In July 2024, the number of residential apartment
transactions in Batumi increased by 5% compared to July of last year to 1,247
units, and the market size increased by 16% to 68 million USD.
In July 2024, the number of residential apartment
transactions in Tbilisi amounted to 3,597 units and compared to July of the
previous year, a 1% increase was recorded. The market size has increased by 10%
to 242 million USD.
In June 2024, the weighted average selling price
of newly built apartments in Tbilisi increased by 12% in the suburbs, while in
the city center and the wider center, an increase of 6% and
4% was recorded.
Interest in Georgian property investment rises.
2024-08-12
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.
Real estate investment and its maintenance
2024-08-11
Real estate is one of the oldest investment assets in the
history of mankind, the value of which is determined by the simple fact that
two objects cannot occupy the same period of time and space at the same time.
With population growth, improving global economic conditions, and accelerating
urbanization, real estate values are steadily rising, and this trend allows
investors to reap financial benefits. Traditionally, it is possible to get
benefit from real estate in two ways - by selling it at a high price in the
future and by periodically renting it out.
Professional management – investing in real estate
requires specific knowledge and experience. Also, management, maintenance and
management of rental facilities are no less difficult. Obviously, not only
investment trusts operate in the real estate market, with the help of existing
companies, investments can also be made in construction-developing, sales and
real estate services companies, among which the company KeyAssets.
Thanks to KeyAssets' technological advancements, investing
in real estate is now much easier than it has ever been. In order to buy real
estate, it is no longer necessary to accumulate tens of thounsands of dollars
in initial capital and thoroughly study the market, all this is provided by
KeyAssets, which will thoroughly describe the entire investment process and
will be available for you throughout the entire investment process until there
will be at least one investment in your portfolio.