In 2023, price of newly built apartments in suburbs of Tbilisi up by 17%, in city center

In 2023, price of newly built apartments in suburbs of Tbilisi up by 17%, in city center - by 14%

13/12/2023

14:27

A-

In the period January-November 2023, the weighted average selling price of old apartments in Tbilisi increased by 24% in the suburbs compared to the same period in 2022, while in the wider area and the city center a 17% and 16% increase was recorded.

According to Colliers Georgia, in the January-November period of 2023, the weighted average selling price of newly built apartments in the suburbs of Tbilisi increased by 17% compared to the same period in 2022, and a 13% and 14% increase was recorded in the wider area and the city center.

"In November 2023, a 10% decrease in transactions in new projects is recorded. In the previous projects, compared to November 2022, the rate decreased by 27%" - the review states.

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