The GEO real property market grew by 8.8% in Q4 2018, in comparison with Q3 2018. While the annual increase was more pronounced at 22.3% (YoY), in comparison with Q4 2017.
Tbilisi dominated the real property market with a 44.4% share in total sales in Q4 2018. The Tbilisi market was followed by Kakheti and Adjara, with a 11.6% and 11.1% proportion of GEO sales, respectively.
The highest annual increase (YoY) in sales was observed in Racha-Lechkhumi and Kvemo-Svaneti (56.5%), Kakheti (34.4%), and Tbilisi (27.8%). In Q4 2018, TBS had an annual growth of 27.8% in real property sales, while the market outside TBS began to catch up and grew by 18.2%.
More than half of GEO sales were registered in the two largest cities: TBS & BAT.