In May 2023, in Tbilisi the number of transactions of residential flats amounted to 3,401 units, reflecting a 3% YoY decrease. Market size increased by 5% standing at USD 189 million, - accoridng to the report on the real estate published by Colliers Georgia.
According to the document, in May 2023 the number of transactions in new projects increased by 0.2%. The figure for old flats features a 10% decrease compared to May 2022. In May 2023 the number of transactions of newly-built economy flats in Tbilisi decreased by 17%, while a 37% and 29% increase was observed in the medium and premium segments.
As of May 2023, the weighted average price of newly-built flats in Tbilisi has increased by 6% in the suburbs, while in the wide centre and in the city centre, 2% and 3% increase was observed, respectively.
As of May 2023 in Tbilisi the weighted average price of old flats has increased by 5% in the suburbs, while a 4% and 7% growth was observed in the wide and city centre.
