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Real Estate Market Highlights in Georgia

The GEO real property market grew by 0.1% (QoQ) in Q1 2018, in comparison with Q4 2017. The annual increase was more pronounced at 27.2% (YoY), in comparison with Q1 2017. TBS, with a 41.6% share in total sales in Q1 2018, dominated the GEO real property market. The TBS …

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Resort Complex Akhtala Sold for 3,76 Million GEL

Recreational, resort complex “Resort Akhtala” was purchased by “Global Victory Georgia”. The company sold it for 3,76 million GEL at conditional electronic auctions. The investor will allocate 12 million GEL in the hotel complex. Within the framework of the project, there will be built open and closed type swimming pools, …

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Seven New Hospitality Projects in New Gudauri

Many people already know that a new, modern skiing village is being built in Gudauri, 120 km away from Tbilisi, at an altitude of 2196 m above sea level. Development firm Red-Co became interested in developing Gudauri back in 2012. Having purchased a 50 ha plot of land in the resort, the …

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Paradise is Found in kaprovani by the Black Sea

How many times have you dreamed of being in a fairy-tale place you have seen only in advertising clips? I know that you think that such a paradise is far from you, expensive and inaccessible. However, I have to tell you that I have not gone through so much of …

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Will the Tbilisi Mayor’s Decision End the Khrushchovka Era?

Tbilisi Mayor Kakha Kaladze has announced plans to replace so-called “Khrushchovka” residential buildings. Kaladze made a statement during a government meeting several days ago. The current plan calls for the full replacement of failing buildings in Quarters 6 and 8 of Verketili Third Massif, as well as moving residents from …

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Property Travel: A New Undertaking by Property Georgia and Duda Travel

The real estate hub Property Georgia and travel agency Duda Travel have established Property Travel – a new platform for investors and tourist groups. The joint service package includes in-demand products such as: Organising transfers for business delegations and tourist groups between arrival/departure points and premium hotels/apartments; Organising informative tours about real estate; Organising informative tours …

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Rehabilitation of Houses Built by Germans in XIX Begins in Asureti

Infrastructural projects are underway in the village of Asureti in Tetritskaro municipality. At this stage the first phase of rehabilitation of Shvabebis Street in Asureti is completed. The first phase provided construction of pavement, arrangement of waterproof concrete cavities, rehabilitation of fences and gates, sewage network, cleaning facilities and street …

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Radisson Collection Welcomes Georgia’s Historic Tsinandali Estate

Radisson Hotel Group is excited to announce the signing of the first Radisson Collection hotel in Eastern Europe and Russia. Radisson Collection – Tsinandali Estate will start soft opening period in September and open its doors officially in October 2018 in the iconic wine region of Kakheti, Georgia. True to …

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Residential Flats Transaction Volume Increased by 41% in Tbilisi

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 …

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