In comparison with Q4 2018, the GEO real property market dropped by 15.2% in Q1 2019. While the annual increase was more pronounced at 3.7% (YoY), compared to Q1 2018.
Tbilisi dominated the real property market with a 41.8% share in total sales in Q1 2019. The Tbilisi market was followed by Kakheti and Adjara, with a respective 12.6% and 10.9% proportion of GEO sales.
The highest annual increases in Q1 sales (YoY) were observed in Imereti (18.7%), Kakheti (17.4%), Samtskhe-Javakheti (15.4%), and Ajara (11.0%). While, Tbilisi had an annual growth of 4.1% in real property sales, where the market outside the capital began to catch up and grew by 3.4%.
More than half of GEO sales were registered in the two largest cities: Tbilisi and Batumi.