the 2020 residential real estate outlook
Updated: January 15, 2021
The number of new apartment transactions is 14% lower than the same period in 2019, while the number of transactions registered on old flats has decreased by 26% and accounts for 8,593 units.
The number of transactions of both new and old flats has decreased by 18%.
2020 vs. 2019
Updated: January 15, 2021
In 2020, the market size of new flats is 20% less than the same period in 2019 and accounts for USD 849 million, while the figure for old flats is 27% lower and amounts to USD 342 million.
2020 vs. 2019
Updated: January 15, 2021
In 2020, the number of transactions recorded on medium and premium new apartments is 43% and 40% less than the previous year. As for the economy segment the number of transactions has decreased only by 4%.
2020 vs. 2019
Updated: January 15, 2021
In the second half of 2020, the number of transactions recorded on economy new apartments has increased by 13%, when compared to the same period in 2019. while the figure for medium and premium flats has decreased by 28% and 46%, respectively.
2020 vs. 2019
Updated: January 15, 2021
The weighted average selling price of new flats in 2020 is USD 672 per sq m, reflecting a 5% decrease, when compared to 2019. As for the old flats, the WAP accounts for USD 638 per sq m, depicting an insignificant approx. 1% decrease.
2020 vs. 2019
Updated: January 15, 2021
In 2020, the number of transactions recorded on new apartments has decreased in the majority of districts. A slight decrease is observed in Samgori, Nadzaladevi and Didube, 2%, 1% and 6%, respectively. The exception was Gldani, where the number of transactions has increased by 38%.
Updated: January 15, 2021
Unlike new apartments, the number of transactions recorded on old apartments has significantly decreased in all districts. In Samgori, Gldani and Saburtalo the number of transactions of old apartments has declined by 24%, 30% and 22%, respectively.
Updated: January 15, 2021
In 2020, the weighted average selling price of new apartments has decreased in Saburtalo, Ponichala and Bagebi, by 10%, 9% and 4%. The figure for Tskneti, Mtatsminda, Gldani and Nadzaladevi has increased by 14%, 9%, 7-7%, respectively. It should be noted that the market of new apartments is not active in Ponichala and Tskneti.
Updated: January 15, 2021
In 2020, the weighted average selling price of old apartments has increased the most in Krtsanisi, Tskneti and Isani, by 14%, 13% and 7%, respectively. The growth in Krtsanisi and Isani should be related to registered transactions in old town subdistricts, such as Abanotubani and Avlabari. An insignificant decline was observed in Vake, Mtatsminda, Chughureti and Didube.