Real Estate
Posted: 3 years ago

Geostat Reports on Slowdown in Georgia’s Development Sector

National statistics service of Georgia, published an early report on the March 2019 economic growth, under which the development sector has showed a slowdown tendency.

The reporting period has recorded a negative growth trend, the document reads. 
The downturn in the sector started in 2018 and reached 3.1%. 

As to other sectors, according to Geostat, the growth was recorded in trading, transport, real estate transactions and consumer services, communal services, social and personal services. 

This preliminary report does not comprise detailed indicators. 

Today, Geostat also published the statistics of construction licenses issued in the first quarter of 2019. In the mentioned period, a total of 2052 construction licenses were issued for 1 378 100 square meters of space, up 7.8% year on year. 71.6% of the licenses are registered in 3 regions: Tbilisi – 50%, Adjara – 1.1% and Kvemo Kartli – 10.5%.