TBC Capital has published an overview of the Tbilisi real estate market for the month of July - according to the report, the rent price of an apartment in the capital continued to decrease and amounted to $11.5 per square meter per month, which is 0.8% more than the average rate of June, and 9.1% less compared to the previous year.

"In July 2024, the Tbilisi real estate market activity increased significantly and the number of sold apartments reached 3,435, which is 3% higher than July 2023 and 18% higher than June 2024. After a steady decline in the number of transactions over the past two months, The number of apartments sold in the month of July reached the highest level in the current period of 2024. This increase is probably due to the deferred demand in the previous months.

In July, the selling price was equal to $1,207, which represents a 3.3%-increase year-over-year and 2.5% month-over-month. The market volume in July amounted to $268 million and increased by 5% year-on-year.

The rental price continued to decrease in July and equaled $11.5, which is 0.8% lower than last month, and 9.1% lower than July 2023.

In the same period, residential real estate sales in Tbilisi amounted to 10.1%, which is 1.2 percentage points less than in July last year.

During the first 7 months of 2024, permission was issued for the construction of 787 thousand square meters of residential area, which is 2% lower than the same period of the previous year," - said in the review published by TBC Capital.