Unprecedented Growth Of The Real Estate Transactions - Tbilisi’s Most Expensive Districts
In 2018 in Tbilisi there was an unprecedented growth of the real estate transactions observed. The amount of assimilated area increased by 31%. For the sake of comparison, in 2017 the growth only made a total of 17%. According to the TBC research, the demand is significantly high within the premium and middle segment apartments. If the low segment apartments have a growth of 28.2% than in the case of the middle segment the percentage is 55, whereas, in regards to the premium segment, this indicator reaches 47.8%.
By the TBC prognosis, in the nearest future, the decrease of the deliverance is expected. Also, the big constructions are projected to be moved to the peripheries of the city.
At the moment, in Tbilisi, residential houses are being built on a total of 2.7 million sq. meters from which 1.1 million sq. meters are already sold. According to the prognosis, 1.6 million square meters of new apartments, with the total sum of 1.14 Billion USD, will be sold in the next 2.5 years.
Besides, TBC suggests, that the developers will move to cases of the domestic credit, and predicts, that the preliminary payment for buying a house will also increase.