Property development is one of the rapidly growing sectors in Georgia and this consideration is proved by Colliers International Georgia too.
The company analyst told Business Course that according to the H117 indicators, 149 residential buildings were finished, up 33% year on year. The market activities gets intensified in the second half and Colliers International Georgia supposes that the property development sector growth will be higher compared to the first half of 2017.
“Residential real estate market is the most active segment, both in 2016 and in 2017. Ratio of residential real estate in total transactions accounts for 75%. The supply increased in the first half of 2017 and 149 projects were finished and this is a 33% upturn as compared to the same period.
About 6300 new apartments were supplied to the real estate market. Demand for new apartments is much higher as compared to old ones”, Nino Makasarashvili told Business Course.