In comparison to Q2 2019, the GEO real property market increased by 3.1% in Q3 2019. While, the annual increase was more pronounced at 7.0% (YoY) compared to Q3 2018.
Tbilisi dominated the real property market with a 40.8% share in total sales in Q3 2019. The Tbilisi market was followed by Adjara and Kakheti, with a respective 16.0% and 9.7% of GEO sales.
The highest annual increases in Q3 sales (YoY) were observed in Adjara (68.9%), Guria (41.8%), Racha-Lechkhumi (26.6%), and Kakheti (19.5%). Although Tbilisi had an annual decline of 1.7% in real property sales, the market outside the capital grew by 13.9%.
More than half of GEO sales were registered in the two largest cities: Tbilisi and Batumi.