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Residential

1.

Updated: January 27, 2022

In December 2021, 1,180 transactions were registered in Batumi, that is 18% higher than the same period in 2019. As for the market size, the figure stands at USD 49 million, reflecting a 17% increase compared to December 2019.

Apartment Transactions and Market Size (USD, mln) in Batumi, December 2021 vs. 2020 vs. 2019
Market Size
Transactions

2.

Updated: January 27, 2022

In December 2021 1,027 transactions were registered in new projects, that is 20% higher than the same period in 2019. On the other hand, the number of transactions registered on old flats has increased by 1% compared to December 2019.

Apartment Transactions Distribution by Types in Batumi, December 2021 vs. 2020 vs. 2019
New Flats
Old Flats

3.

Updated: January 27, 2022

In December 2021, the market size of new flats has increased by 19% when compared to the same period in 2019. As for the old flats, the figure stands at USD 6.5 million, increasing by 5%.

Apartment Transactions Market Size by Types in Batumi (USD, million), December 2021 vs. 2020 vs. 2019
New Flats
Old Flats

4.

Updated: January 27, 2022

In December 2021, the number of transactions recorded on economy new apartments saw 15% increase compared to the same period in 2019. The figure for the medium segment has increased by 10%. While the number of transactions for premium segment has increased by 78%.

Transactions Distribution of New Apartments by Segments in Batumi, დეკემბერი 2021 vs. 2020 vs. 2019
December-19
December-20
December-21

5.

Updated: July 2, 2021

In the first half (H1) of 2021, 5,139 transactions were registered in Batumi, that is 64% higher than the same period in 2020. The figure has increased by 17% when compared to H1 2019. As for the market size, the figure stands at USD 218 million, reflecting a 21% increase compared to H1 2019.

Apartment Transactions in Batumi, H1 2021 vs. H1 2020 vs. H1 2019

6.

Updated: July 27, 2021

The market size of residential apartments in Batumi, also saw an increase by 21% when compared to H1 2019, the figure stands at USD 218 million. In comparison with H1 2020, the figure saw an increase by 75%.

Market Size of Residential Apartments in Batumi (USD, mln) , H1 2021 vs. H1 2020 vs. H1 2019


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Expectations and opportunities

Stability of the banking sector and the uninterrupted financing of real estate projects are among the main factors in maintaining the residential property market.
Developers might consider making changes to installment schedules in order to maintain cash flow from existing contracts. It is also unlikely that an aggressive price drop by developers will result in an increase on the market in total.
In line with adapting to a distancing culture, demand for single-family houses is expected to increase. Demand for land plots suitable for single-family house development near Tbilisi, and in other regions of Georgia, is also expected to increase.