Real Estate Market Highlights
GEO real property market grew by 10.6% in 2017 in comparison with 2016. Annual increase was observed in all quarters, with the highest jump in Q2, 14.2% (QoQ) and 20.0% (YoY).
TBS, with 40.7% share in total sales in 2017 dominated the GEO real property market. TBS market was followed by Ajara with 11.6% and Kakheti with 9.9% shares in GEO sales. Ajara experienced the highest annual increase in the sales number (34.1%). With 84.3% share, market growth in Ajara was mostly driven by increase in transactions recorded in BAT (32.4%).
In 2017, TBS real property sales grew by 15.6%, while overall the market outside TBS – by only 7.5%. More than half of GEO sales were registered in 3 largest cities: TBS, BAT & KUT.