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GEO real property market grew by 10.6% in 2017 in comparison with 2016. Annual increase was observed in all quarters, with the highest jump in Q2, 14.2% (QoQ) and 20.0% (YoY).

TBS, with 40.7% share in total sales in 2017 dominated the GEO real property market. TBS market was followed by Ajara with 11.6% and Kakheti with 9.9% shares in GEO sales. Ajara experienced the highest annual increase in the sales number (34.1%). With 84.3% share, market growth in Ajara was mostly driven by increase in transactions recorded in BAT (32.4%).

In 2017, TBS real property sales grew by 15.6%, while overall the market outside TBS - by only 7.5%. More than half of GEO sales were registered in 3 largest cities: TBS, BAT & KUT.

Learn more about real estate market from our Real Estate Laboratory report, jointly produced with TBC Bank.

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After hitting an all-time high in JUN-17, the GEO real property market slowed down in JUL-17 (-13.8% MoM), but gradually recovered during the next two months: AUG-17 (+6.5% MoM) and SEP-17 (+3.8% MoM). Despite the slowdown, with a total of 24 848 property sales, the GEO market in Q3 2017 grew by 0.7% compared to the previous quarter, and 5.9% against Q3 2016.

40.1% of all registered transactions took place in the capital. TBS’s share of total transactions remained stable, except for peak seasons in other regions of the country.

Ajara, with 11.9%, and Kvemo Kartli, with 9.1% shares in total sales, respectively, remained in the top 3 busiest regions. Q3 2017 YoY growth in total transactions was mostly driven by growth in the Tbilisi market (+8.4%), while outside the capital, the market grew by 4.2%.

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GEO real property market slowed down in APR-17 (-16.2% MoM) and gradually recovered during next 2 months: MAY-17 (+20.8% MoM) and JUN-17 (+6.5% MoM). With a total of 24 673 property sales, GEO market in Q2 2017 grew by 12.7% (YoY).

Share of TBS in GEO sales increased to 39.8% in Q2 2017, and TBS remains on the top of GEO real property market.

TBS market was followed by Ajara with 13.1% and Kvemo Kartli with 9.7% shares in GEO sales. In Q2 2017, TBS real property sales grew by 23.9%, while outside TBS - by only 1.2%. More than half of GEO sales were registered in 3 largest cities: TBS, BAT & KUT.

Learn more about real estate market from our Real Estate Laboratory report, jointly produced with TBC Bank.

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