Prices of offices will further decline, according to the forecast by Colliers International Georgia.
The coronvirus pandemic has caused a number of changes in the real estate market. One of the major challenges facing commercial spaces is that employers are slowly leaving.
Government Announces Auction of warranty of 100 million for Insurance of Unfinished Construction Projects
The government of Georgia has announced an auction of warranty of gel 100 million with the aim to insure unfinished construction projects, prime minister Giorgi Gakharia noted.
After enforcement of the state subsidization program, the sales of apartments have regained the July 2019 indicators, Beso Tavberidze, the Balavari construction company founder noted.
In one month, the price of apartments in Tbilisi decreased by 12%.
The auction of the hotel "Borjomi Likani" will be held on September 4. The Partnership Fund will put the facility up for auction for $ 30 million.
In June, real estate sales in Tbilisi fell by about 21%.