The real estate market of Georgia in 2017 grew by one third and more than twice - for the last seven years

Experts of the analytical magazine International Investment assess the dynamics of the growth of the Georgian real estate market as one of the most intensive in Europe. At the same time, experts note the internal problems of the Georgian real estate market associated with low paying capacity of the population. The rapid growth of the market is largely due to the state program of registration of land ownership rights and high demand for a resort property in Georgia among foreign buyers.

The average price per square meter in new buildings near the sea in Batumi is $ 500 (condition - without finishing).

The cost per square meter of a square apartment in the secondary market (with repair) in the new housing stock is $ 900.

The average cost per square meter of a villa without interior finishing on the secondary market is $ 800.

The average cost per square meter of a villa, with repair, in walking distance to the sea, is $ 1000.

In Tbilisi, the price of a square meter of a square-meter apartment in the primary market (rough finish) is $ 750.

The price of a square meter of a square apartment in the secondary market (with repair) is $ 950.

This level of prices has caused high demand among citizens of countries of Russia, Ukraine, Turkey, Kazakhstan, Belarus, the European Union, Armenia, Azerbaijan, and Israel, buying real estate both for their own vacation and as an investment in the rental real estate.

However, the seaside zone of Batumi, Georgia's main sea resort, has already exhausted the opportunities for new construction by 95%. The lack of land close to the sea in the medium term (3-5 years) can cause a significant increase in prices in this segment.