According to a snapshot carried out by global real estate services company residential flats transactions increased by 37% in Tbilisi in the first quarter of 2018 (Q1, 2018) compared to the same period in 2017. At the same time, the share of new-build flats was 60%, 6 percentage points higher than last year. Residential property transaction volume also grew by 41% year-over-year (y-o-y) and amounted to USD 324.2 million. Top three districts by residential transaction volume are Saburtalo, Vake and Didi Dighomi. Didi Dighomi experienced the highest growth of 108% in the Q1, 2018.
Prices of both new-build and old residential increased in the Q1, 2018. The weighted average price of new-build flats grew by 3% y-o-y and amounted to USD 681 per sq m, while old flats saw a modest 0.65% increase and stood at USD 615 per sq m.
Please find the snapshot here.