In recent years, the demand for residential lands in Tbilisi and its surroundings has been growing. It is especially interesting how the pandemic affected the market, whether the demand has grown and what are main trends in terms of prices. In this purpose, Colliers Georgia has reviewed the market of residential lands in Tbilisi and its surroundings. The study analyzes the number of transactions, the weighted average price, as well as the market size. The period of the research covers 2019, 2020 full years and the first half of 2021.
It is notable that in the first half of 2021 the number of transactions registered on residential lands in Tbilisi and its surroundings amounted to 822 units, that is 56% higher in comparison with the same period in 2019.
In terms of the demand, Tsavkisi, Tabakhmela and Tkhinvala hold the leading position. The number of transactions registered in these settlements in the first half of 2021 is about 100 units in each.
The demand in Tskneti has decreased by 4.2%, that should be attributed to the lack of the vacant land plots, as well as high selling prices.