Until 2014, the population of Tbilisi remained more or less constant, even slightly decreasing at the same rate as the population of the country as a whole. Since 2014, though, there has been a marked migration to the capital as seen in the graph below.

Given the increasing pressure on the city’s environment, action should be taken to provide a healthier and more habitable space. The development of urban parks is therefore one viable option. However, the trend over the last decade has gone in exactly the opposite direction, with green space per capita decreasing dramatically; estimations from Tbilisi City Hall data highlight that per-capita green space decreased from 5.6 to 1.3m2 between 2010-2018 (well below average European standards 10-15m2).

In comparison to Q1 2020, the GEO real property market contracted significantly by 45.5% in Q2 2020 (from 27,273 units sold in Q1 2020 to 14,855 in Q2 2020) while the annual decrease was observed at 53.6% (YoY) compared to Q2 2019.

In comparison to Q4 2019, the GEO real property market contracted by 21.2% in Q1 2020 (from 34,602 units sold in Q4 2019 to 27,273 in Q1 2020) while the annual decrease was observed at 4.3% (YoY) compared to Q1 2019.

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.