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In comparison to Q1 2020, the GEO real property market contracted significantly by 45.5% in Q2 2020 (from 27,273 units sold in Q1 2020 to 14,855 in Q2 2020) while the annual decrease was observed at 53.6% (YoY) compared to Q2 2019.

Tbilisi dominated the real property market with a 36.2% share in total sales in Q2 2020. The Tbilisi market was followed by Kakheti and Kvemo Kartli, with a respective 12.9% and 8.9% of GEO sales.

The highest annual decrease in Q2 sales (YoY) was observed in Adjara (-67.5%), followed by Tbilisi City (-62.6%), Samtskhe-Javakheti (-55.3%) and Imereti (-52.0%) regions. In total, the market outside the capital shrank by 46.3%.

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In comparison to Q4 2019, the GEO real property market contracted by 21.2% in Q1 2020 (from 34,602 units sold in Q4 2019 to 27,273 in Q1 2020) while the annual decrease was observed at 4.3% (YoY) compared to Q1 2019.

Tbilisi dominated the real property market with a 42.8% share in total sales in Q1 2020. The Tbilisi market was followed by Kakheti and Adjara, with a respective 12.6% and 8.8% of GEO sales.

The highest annual increase in Q1 sales (YoY) was observed in Racha-Lechkhumi & Kvemo Svaneti (41.2%). On the other hand, the highest decrease in Q1 sales (YoY) was observed in Guria (-25.9%), Adjara (-22.5%), and Samtskhe-Javakheti (-10.5%). While Tbilisi had an annual decline of 1.9% in real property sales, the market outside the capital shrank by 9.9%.

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In comparison to Q3 2019, the GEO real property market increased by 4.7% in Q4 2019. While the annual increase was observed at 3.0% (YoY) compared to Q4 2018.

Tbilisi dominated the real property market with a 40.7% share in total sales in Q4 2019. The Tbilisi market was followed by Adjara and Kakheti, with a respective 12.4% and 12.2% of GEO sales.

The highest annual increases in Q4 sales (YoY) were observed in Racha-Lechkhumi & Kvemo Svaneti (62.9%), Shida Kartli (26.8%), Samegrelo-Zemo Svaneti (18.2%), and Adjara (14.8%). While Tbilisi had an annual decline of 5.6% in real property sales, the market outside the capital grew by 9.9%.

More than half of GEO sales were registered in the two largest cities: Tbilisi and Batumi.

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