G&T Study: Real Estate Prices due to Tbilisi Districts
G&T Study: Real Estate Prices due to Tbilisi Districts In September 2020, real estate sales rose by 14.9%, the Galt & Taggart real estate study for 3Q20 reads.
This is the first positive trend in the real estate market amid the pandemic. According to G&T research, the real estate market started growth as a result of the 4% state subsidization program.
Namely, the annual growth in the market of new apartments marked 10.8%. As for the pandemic period before the subsidization program, the slowdown marked 26.6%. Gldani District ranks first in terms of sales with a 24% upturn in 3Q20. Samgori indicators remain the same. As for other districts, a slowdown is recorded in all other districts, including Nadzaladevi (-32%), Krtsanisi (-17%), Didi Dighomi (-14%) and Chughureti (-14%).
According to the same study, the price of new apartments in September declined by 5.9%. Real estate prices due to Districts Saburtalo - $748 (-8% year on year) Didube - $681 (+ 2% year on year) Isani - $593 (+ 3% year on year) Didi Dighomi - $554 (-1% year on year) Gldani - $539 (+5% year on year) Mtatsminda - $936 (-1% year on year) Vake - $891 (-11% year on year) Krtsanisi - $690 (-16% year on year) Chughureti - $686 (-9% year on year) Nadzaladevi - $568 (+4% year on year) Samgori - $533 (+2% year on year) We remind you that in July 2020 the real estate market recorded a 14.9% contraction, while in August the downturn marked 16.3%.