Tbilisi Residential Market: Monthly Watch

6 Jul, 2021
image
  • Strong economic recovery coupled with stronger GEL, though higher inflation
  • Average price of Tbilisi residential properties up 1.5% MoM in May, with rental rates displaying even sharper increase, at 7.5% MoM
  • Transaction activity slowed down in May, attributable to declaration of mandatory holidays coupled with mobility restrictions; In June, registrations picked up once again
  • Share of new properties stabilizing since the beginning of 2021, down further in Q2 2021 QTD, accounting for 64% of total transactions
  • Sales up considerably in the suburban districts, with Vake and Mtatsminda also catching up, while Saburtalo and Chughureti remain far below the pre-pandemic level
  • Tbilisi’s rental yield increased noticeably, standing at 7.14% in May, a reverse point from the declining trend
  • Growth of mortgage portfolio also strengthened, driven by increasing issuance in the local currency
  • Some improvements are observed for Tbilisi Airbnb market, with property booking rate and market revenue up marginally
Start a conversation
Subscribe