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Galt & Taggart
- 2025-02-28
Batumi Residential Real Estate - 2024 Full Year 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 domestic political instability, gradual outflow of migrants, limited availability of soon-to-be-completed projects (projects set to finish in 2025 are nearly sold out), etc. Despite these challenges, average rental yield on Batumi’s real estate market remains high (8.8%), and prices continue to rise, albeit at a much slower pace.
In 2025, we expect prices to stabilize at current levels and rental yields to gradually start coming down, unless there is a significant rise in number of tourists renting these apartments.
In 2025, we expect prices to stabilize at current levels and rental yields to gradually start coming down, unless there is a significant rise in number of tourists renting these apartments.
