Tbilisi Residential Market: Monthly Watch

19 Nov, 2020
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  • A marginal decrease observed in  October transactions, on the back of  sharp decrease in old apartment sales
  • In October, 3,273 residential property transactions with a total of 221,337 Sqm area were registered in Tbilisi, with growth rates of -3.9% and -3.2% YoY, down from 5.9% and 5.8% YoY in September
  • Share of new apartments marginally increased in October, as compared to September
  • Sales down in all districts in 10m 2020, with Gldani, Samgori and Nadzaladevi displaying more resilience
  • The proportion of mortgages to total sales increasing in Q3 2020
  • Selling prices down for both new and old apartments compared to September
  • Compared to January, monthly rental asking prices are down by 21% in Tbilisi
  • Rental yield is on decline, standing at 7.4% in October, below its long-term trend
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