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Dynamics of real estate market in Georgia (2017-2020)
31 აგვისტო, 2020

Real estate market in Georgia is quite active and dynamic. However, the level of activity is not equally spread all over the country being mainly concentrated on Tbilisi and Batumi. Furthermore, there is huge difference between the amount of transactions on Tbilisi and Batumi markets which is probably not a surprise considering the scales, population and economic activities of these two cities.

 

Amount of transactions

Let’s have a look at transactions of last 3 years (2017-2019). According to data of Georgian public registry in 2017-2019 on Georgian real estate market 2,572,314 transactions were realized, including secondary sales, out of which:

  • 716,761 transactions were realized in Tbilisi
  • 181,577 transactions were realized in Batumi

 

Dynamics of transactions in Batumi according to years

Batumi real estate market shows YOY growth. Here is the statistics of last 3 years:

2017

2018

2019

56 185

58 792

66 600

Total

181 571

 

 

Transactions in 2020

Like probably all spheres, Covid-19 has negatively impacted real estate market as well. The beginning of 2020 looked promising with growth of transactions. However, from March the transactions started to fall reaching the peak -81 % in April. Decreasing trend was kept over the next months as well but with smaller scale. As a result, June reported -12 % of drop of transactions.

 

Article author: shindi

Source: National Agency of Public Registry

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