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Galt & Taggart
- 15.11.2024
Regional Residential Real Estate - 3Q24 Overview
After record-high demand in 2022-2023, Batumi real estate market experienced a slowdown in 2024. This decline can be attributed to several factors, including a gradual outflow of migrants, rising prices, high interest rates, and domestic political instability. Despite these challenges, Batumi’s real estate market remains one of the highest-yielding in comparison to many peer cities, and prices continue to rise, albeit at a slower pace. We expect prices to stabilize at current levels in 2025 and see upside potential if interest from foreign buyers increases further.
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Galt & Taggart
- 25.10.2024
Tbilisi Residential Real Estate - September 2024
In September 2024, demand for real estate continued to improve. Prices in September increased slightly by 0.1% m/m after 0.3% m/m increase in August. On the supply side, the volume of construction permits has stabilized in the last two months, although it still remains lower by 23.6% y/y, partially reflecting last year's high base. The dynamics of permit issuance are expected to remain steady through the end of 2024, with future trends determined by the strength of demand.
