Colliers Georgia recently published a report revealing that the real estate market in Batumi significantly grew in January 2025, with both property prices and transaction volumes going up.
The weighted average price of newly built flats increased by 8% year-over-year, reaching $1,130 per square meter. Prices for older flats increase even more, rising 16.2% to $1,100 per square meter.
The market activity also strengthened:
- Transactions for newly built flats increased by 3%, while old flat sales saw a 5.7% rise.
- Overall, 1,049 residential flats were sold in Batumi in January, a 3.2% increase in transactions.
- The total market size expanded by 17.4%, reaching $57 million for the month.
2024 saw a sharp decline of 2% in total residential transactions despite growth in other areas, with 15,034 units sold. Nevertheless, the annual marker size increased by 6% to $778 million.
