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.