Tbilisi Sees $1.7 Billion in Apartment Sales Over Seven Months

In the first seven months of 2024, more than 22,000 apartments were sold in Tbilisi, totaling $1.7 billion in sales, according to a report by investment bank Galt & Taggart. This marks a 1.9% increase in sales value compared to the same period last year.

Despite the rise in total sales value, the number of apartments sold actually decreased by 3.2% compared to the first seven months of 2023. This decline was mainly due to fewer transactions in the secondary market, where properties are sold by individual owners. In contrast, the primary market, involving new properties, saw a 1.1% increase in sales.

The report highlights that the Didi Dighomi district had the highest number of apartment sales, while the Mtatsminda district had the fewest. In terms of value, Saburtalo recorded the highest sales, and Vashlijvari the lowest.