Real Estate
Posted: 3 months ago

Balavari: Subsidization Brings Very Positive Effect

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.

The company plans to launch several new projects if the sales paces are maintained, he added.

“The subsidization program has brought very positive results. In practice, we have regained the sales of the same period of 2019 and the pre-pandemic indicators. No apartment was sold for more than 3 months. Then our citizens were waiting for the program enforcement and now the process has enlivened. We had good indicators in July too and the positive trend is maintained in August too.

We will supervise the process for the next 2 months and we will launch new projects if the activity proceeds positively. We have optimistic expectations. As for prices, we have no slowdown. We have maintained the same prices, $580-650 on average. The slight contraction was recorded for apartments in the price segment of $1,300-1,400”, Tavberidze told BM.GE.