Property Prices Increase in Tbilisi and Other Cities in Q4 2018

Tbilisi Residential Property

In Q4 2018, the Average Sale Price (ASP) in Tbilisi varied between $871 and $913 per m2 (monthly average), and Average Rent Price (ARP) was between $7.1 and $8.1 per m2 (monthly average) for the same period. The quarterly averages are $887 for ASP and $7.5 for ARP.

ASP increased in all districts of Tbilisi for this period. The highest increase can be observed in Isani and Didube, 18.4% and 16.3%, respectively. ARP percentage increased the most in Isani, by 9.6% (YoY).

Mtatsminda ($1,096) and Samgori ($552) were the most expensive and cheapest districts of Tbilisi, respectively, by ASP. Mtatsminda ($8.72) and Gldani ($4.40) were the most expensive and cheapest districts for the same period by ARP.

During Q4 2018, ASP varied between $1,032 and $1,136 per m2, and ARP between $9.18 and $10.55 per m2. The ASP for commercial properties increased by 4.2 % (YoY), and reached $1,076 per m2. Meanwhile, ARP increased as well by 4.0% (YoY) to $9.73 per m2.

In Q4 2018, ASP for residential properties in Batumi increased by 11.6 % (YoY) and reached $842 per m2. In Kutaisi, ASP increased as well by 6.4% (YoY) and amounted to $399 per m2. 

Real Estate Market Highlights for Q4, Georgiatoday.ge (March 18, 2019).