“Real estate, which was previously being sold as Middle Class Apartment, has increased in price so much that it is being sold as Middle Class Apartments,” - Colliers Georgia real estate market research says.
In Tbilisi, by September, the demand for newly built Middle Class Apartments doubled, and the rate in the Premium Class Apartments increased by 167%.
"In recent years, there has been an increase in the economy segment [the real estate market] in Tbilisi. Especially during the pandemic, it was the most dominant, although the trend started from 2021, when the demand for Middle and Premuim Class Apartments increased. Based on the data of the first 9 months, 1,600 transactions were made in Premium Class Apartments, which means an increase of 140%. This scale was not recorded in the past years.
This is due to several factors, the first of which is that the share of incoming non-residents is really in the transactions, which increased the demand,” – the research reads.
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One US dollar trades at GEL 2.7118
18/07/2025
