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Colliers: Land Price will Rise in Central Part of Tbilisi

Land price will rise in the central part of Tbilisi, Irakli Kilauridze, director general of Colliers International Georgia, noted. Cities grow in size and they are developed in Georgia, however, this process is mainly emphasized in the capital city, Irakli Kilauridze said. “Urbanization level gradually grows and this is inevitable …

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Tbilisi Mayor: 54 Construction Projects were Suspended because of Violations

Tbilisi Mayor Kakha Kaladze noted at the Tbilisi Government meeting that statistics of construction violations in the capital city is troublesome. He referred to the statistics that records violations from November 20, 2017 through January 17, 2018. Municipal Surveillance Office has given verbal warning to more than 200 projects, legal …

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Apartments Cheapen, Commercial Real Estate Rises in Price

Activity is Declined at the Real Estate Market in May

As compared to December 2017, prices declined on apartments. At the end of 2017 the price of a square meter of Tbilisi-based apartment exceeded 1 000 USD, while the value declined to 950 USD in January 2018. Unlike apartments, prices of commercial real estates keep growing. Over the past month, …

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Real Estate on Balance of Ministry of Economy

There are 47 719 agriculture land plots on the balance of Ministry of Economy. Total space of these land plots constitutes 3 791 424 603 square meters, including the major part (16 389) is located in Kvemo Kartli, while the smallest part is registered in Racha-Lechkhumi and Kvemo Svaneti Region. …

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Challenges Faced by the Real Estate Sector in 2017

property Georgia

De-dollarization has been one of the main challenges for the Georgian real estate market in 2017. Following the devaluation of the Lari in 2016, the government of Georgia and the National Bank of Georgia (NBG) jointly designed a plan of ‘Larization’ of loans. The relevant legislation came into force on …

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M2 to Replace Post Soviet Buildings

M2 works on replacement of post soviet buildings AKA ”Krushchovka”. The head of the development company M2 Irakli Burdiladze made the corresponding statement live on Business Morning. According to him, negotiations with Tbilisi City Hall are already underway and they have it ready replacement project on Kavtaradze and Vazha Pshavela. …

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