Representatives of construction companies and real estate agencies interviewed by "Commersant " say that property prices rose.
According to "Arci" Executive Director Tornike Abuladze , recently prices for new buildings in Georgia have increased by 10.7 %, due to sales growth trend - in particular, if before the value of the middle class property was 700 USD per square meter , now it has now grown to 800 USD .
However, he notes, the price increase doesn’t affect the state of the market as of today demand far exceeds supply.
According to General Director of "Axis " company George Kapanadze , property cost in the company increased by 5.7 %, due to the increasing number of buyers.
"There is a shortage of new apartments in the market. Demand is high and exceeds supply. Cost of property in our company ranges within 750 -1 600 USD per square meter depending on the district,"- he said.
According to a representative of the real estate agency " Kera realty ", compared to last year, the price of real estate has grown by 10%.
"Growth is not associated with an increased volume of purchases that remains stable . Price per square meter in Tbilisi ranges within 600- 1 500 USD. Unlike new buildings, price of the secondary real estate remains unchanged,"- the company states .
However, they can not specify whether growth in property prices will continue in the near future.
Source:commersant.ge |
May 29, 2014
