Real estate in Tbilisi went up by 14.3 % , prices vary by neighborhoods

According to Georgia's national statistics, Tbilisi has seen a 14.3 percent growth in real estate over the past year. Compared to the same period last year, the price of houses increased by 18.0 percent and apartments by 12.5 percent.

Buying a home in the capital is becoming increasingly affordable for residents of Wake and Saburtalo, where the supply of apartments is the highest. In the new (completed) housing segment, the 1-square-mile square footage. meter in Tbilisi the price is 2022.

Since the beginning of the war in Ukraine, the situation on the real estate market in Georgia has changed significantly. US channel CNBC writes that when Russia's economy is weakened by sanctions, some Russian emigrants are looking for opportunities in Georgia.

According to IDFI data, 45,349 new accounts have been opened in Georgia's commercial banks by Russian citizens since the war with Russia began between August 31 and September 1. The organization points out that this indicates migration of Russian citizens, not just tourist trips to Georgia. Data not provided by the national bank.