Residential Apartment Transactions See Growth in Tbilisi – Colliers Georgia Report

According to Colliers Georgia, the number of residential apartment transactions in Tbilisi reached 3,739 units in November 2024, marking an 11% increase compared to the same month in the previous year.

The market size experienced a notable growth of 20%, reaching $264 million.

Transactions in new projects surged by 17%, while those in older projects saw a 7% decline compared to November 2023. During the same period, the average selling price of older apartments increased by 5% in the suburbs. In the city center and the wider center, prices rose by 17% and 18%, respectively.

Newly built apartments also saw price increases. The average selling price climbed by 10% in the suburbs, while the city center and the wider center recorded price hikes of 6% and 5%, respectively.