Tbilisi Residential Market: Monthly Watch

23 Feb, 2021
  • Economic activity and labor market weakened further in Q4 2020; Remittances continued strong performance, while trade in goods remained subdued in January 
  • Tbilisi residential real estate prices remained stable MoM in January but rental rates continued to decrease
  • After a sharp drop of new mortgage issuance in January, some moderation in the rate of decline is observed in February
  • Sales  weakened in January 2021, expressed in both new and old apartment transactions
  • Transactions decreased in most districts, up only in Gldani, Didube and Krtsanisi
  • No sharp deviations observed in the mix of new property transactions after the end of the subsidy program
  • Rental yield remained on the decreasing trend,  below its long-term average
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