With a total of 21 611 property sales, Georgian real estate market in Q1 2017 grew by 6.1% (YoY). 194 new buildings with total area of 301.1 thousand sq.m were completed in Tbilisi during Q1 2017.

Vake has always been one of the most prestigious districts in Tbilisi and being a “Vakeli” has been associated with high social status for no obvious reasons. In the picture: Vake Park, one of a few green places in Tbilisi and thus a big asset for the Vake district. Maybe having an opportunity to walk every day in this park makes people living in Vake so special.

In 2016, GEO real property market grew substantially. With a total of 89 120 transactions, the market this year surpassed 2015 by 20.2%. The highest number of sales was registered in AUG-16 & DEC-16, with 8 076 and 8 099 units respectively.

During the last 10 months (January-October, 2016) 605 new buildings with total area of 1 202 828 sq.m have been supplied to the real property market. This represents 53.6% and 74.2% growth, respectively, over the same period last year.

Tbilisi real property market continues to grow steadily. Total sales grew to 3331 units in September 2016 to hit a new monthly record. Market rose also in July 2016 followed by slight decrease in August 2016.