Number of transactions
In Jan-24, the number of registered transactions in Tbilisi stood at 3,068 units, up 6.3% y/y. This growth is solely attributed to increased transactions on the primary market (+21.2% y/y), while sales on the secondary market decreased by 5.8% y/y.
Prices
Weighted average price on the primary market increased to US$ 1,266, up by 0.5% m/m.
Market size
In Jan-24, the total market value of apartments sold in Tbilisi stood at US$ 229.1mn, up by 13.1% y/y.
Rent
In Jan-24, price for renting an average apartment (50-60 m2) in Tbilisi stood at US$ 10.4 per m2 (-2.4% m/m).
Construction permits
2024 started with a 71.8% y/y increase in permitted living area, after a record-high 2023 year. Total of 19 permits were issued for residential real estate projects.
