Real Estate
Posted: 2 months ago

"Most Real Estate Owners Refuse to Rent an Apartment to Russians"

"Most real estate owners refuse to rent an apartment to Russians," Vazha Mebaghishvili, co-founder of Noble Real Estate, told BM.ge. 

According to him, a large wave of Russians and Belarusians has arrived in Georgia, so the turnout is quite high, but in many cases, about 85% of apartment owners refuse to rent an apartment because they do not trust it.

"They write at the end of the e-mail that they recognize Russia's annexation of Georgia, the war in Ukraine, the war in Georgia. They think it will work, but the owners still refuse.

"Our company operates in the markets of Vake, Vera, and partly in Saburtalo, and here the prices have increased by 30-50%," said Mebaghishvili.

The owner of the real estate company Sigma, also speaks about the increase of prices for rental real estate from 30 to 50% in the last 2 weeks. Refuses to rent an apartment for citizens.

"We conducted a survey with our clients who rent an apartment and found that 90% of them refuse to rent a house for them. That is why we do not serve Russian citizens. As for the market situation, prices have risen sharply, if the apartment costs $ 300 today its price is in the range of $ 400-450. There is more demand in the suburbs, they are looking for lower-budget apartments, ”said Lachashvili.

TBC Capital is talking about the tendency of price increase for both rental and sale apartments. Irina Kvakhadze, the head of the research, says that the rent of apartments has increased by 27% and the price of apartments for sale has increased by 10%.