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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.
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Tempelhofer Feld is a beloved communal recreation area of Berliners. Tempelhofer Feld is not just a park. It is a park built instead of an airport. In 2008, when the almost century-old Tempelhofer airport was closed, the city of Berlin declared the centrally located, 386-hectare (!) open space for public use. Today, the area has six-kilometer cycling, skating, and jogging trail, a 2.5-hectare barbeque area, a dog-walking field covering around four hectares, and an enormous picnic area for visitors – everything we, Tbilisi citizens, can only dream of.
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The average Sale Price (ASP) for residential properties has fallen consistently over last 3 months, to its current level of USD 836 [GEL 1829]. ASP rose to a year-high of USD 900 [GEL 2159] in December 2015 and fell to a year-low of USD 836 [GEL 1940] in August 2015 and June 2016. Appreciation of GEL since February 2016 exerted downward pressure on prices expressed in local currency decreasing at faster rates compared to prices in USD.
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In June 2016, the average cost of cooking one standard Imeretian khachapuri increased to 3.12 GEL, which is 1.5% higher month-on-month (m/m, that is compared to May 2016), but 9.6% higher year-on-year (y/y, compared to June 2015).
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Retail food prices decreased by 7.6% m/m (compared to the last week of May) and 10.1% y/y (compared to June 2015). The biggest drops were observed for tomatoes (-65.5%), cucumbers (-63.3%), and eggplant (-33.7%). Only a few products gained in value. The highest increases were recorded for cabbage (12.8%), tea (7.3%), and rice (7.2%).