In July-September, 10,114 apartments were sold in Tbilisi, Georgian capital

17/10/2023

19:22

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In the third quarter of 2023, the sales of apartments in Tbilisi decreased by 13% annually. According to the updated review of the residential apartment market by Colliers Georgia, 10,114 apartments were sold in the capital in July-September. The size of the market decreased by 11% to $549 million.

A 7% decrease in transactions in new projects is recorded. Compared to the third quarter of 2022, the sales rate of apartments in the previous projects decreased by 23%.

In addition, during the reporting period, the weighted average selling price of newly built apartments in Tbilisi increased by 7% in the suburbs, while the rate decreased slightly in the wider center and the city center.
As for older apartments, their weighted average selling price in the suburbs increased by 4%, while the wider center and the city center saw increases of 3% and 1%.

Only in September, the number of residential apartment transactions in Tbilisi amounted to 3,136 units, which is 21% less than the figure recorded in September of the previous year. The size of the market has decreased by 20% to $169 million.

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