Sales of High-Priced Apartments on the Rise in Tbilisi; Which Districts Are Seeing Increased Demand?
According to the monthly review of Tbilisi residential real estate by TBC Capital, there has been a significant increase (17% YoY) in the number of apartments sold in Tbilisi in January 2023.
Real estate experts in Georgia anticipate a 15-20% increase in property prices in the long term.
Residential buildings are being built in Gori, near the sports complex. In the buildings built with an investment of ₾12 million, the price per square meter starts at $550.
m² is building the first skyscraper on Marshal Gelovani Avenue in Tbilisi. The general director of the company, Nikoloz Medzmariashvili, announced this in the "Forbes week" program.
A major real estate project is planned for implementation on Heroes' Square in the Tbilisi City Centre.
A brand-new residential complex called TelaValley Residence has begun building in Kakheti, Telavi, on a 20,000 square meter plot of land.
Beso Ortoidze, General Director of "Arsi," claims that, up until 2022, the majority of apartments in their developments were purchased for residence, but that situation has completely changed this year.