ISET

The GEO real property market grew by 0.1% (QoQ) in Q1 2018, in comparison with Q4 2017. The annual increase was more pronounced at 27.2% (YoY), in comparison with Q1 2017.

TBS, with a 41.6% share in total sales in Q1 2018, dominated the GEO real property market.

The TBS market was followed by Kakheti at 11.1%, and Ajara, with a 9.9% share in GEO sales. The highest annual increase (YoY) in sales was observed in the Racha-Lechkhumi&Kvemo Svaneti (105.0%), Guria (66.9%) and Kakheti (31.7%) regions.

In Q1 2018, TBS real property sales grew annually by 37.1%, and overall the market outside TBS caught up and grew by 21.0%.

More than half of GEO sales were registered in the two largest cities: TBS & BAT.

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.

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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