«Prices for new buildings in Georgia will continue to grow.» Experts spoke about the situation in the market
The real estate market of Georgia was the discovery of the last year. Despite the fact that in 2020 buying activity has seriously decreased, 2021 more than compensated for this. What to expect from 2022? Is it necessary to invest lengi in real estate in Georgia now or should we wait for prices to drop? And how to choose «your» property? Founder of Roof Development Zurab Pirtskhalaishvili answered these and other questions.
— Tell us a little about the situation on the Georgian new construction market? Average cost per square meter?
— The construction sector of Georgia increased 5 times in 2004-2008. The share of the construction sector in the economy of Georgia occupies a leading place and is growing every year. In 2020, it accounted for 13% of the total economy of the construction sector. Despite the Covid pandemic of 2021, the cost of 1 sq.m. exceeded the cost of 2019. It is noteworthy that the recovery of the market was well reflected in the index of apartments sold.
— In the central districts of Tbilisi, the cost of 1 sq.m. goes from $ 1,000 to $ 1,300, and in some cases up to $ 1,600. The value of real estate in Georgia is increasing every year, which is due to the inflow of foreign investment and the return of emigrants to their homeland. It should be noted that the Georgian market in the region is distinguished by the best investment offers and is of interest to many foreign citizens. Roof Development projects are presented at all prestigious locations throughout Tbilisi. Saburtalo district is very popular in the capital.
The location of Saburtalo district is especially attractive for both people who lives in Tbilisi and tourists. Which led to an increase in the selling price of most of the real estate in the territory of Saburtlo throughout Tbilisi.
— What should the buyer pay attention to if he decides to buy a new building?
— When buying a new property, the buyer should pay attention to the following details:
- Project location.
- Quality of building materials.
- Who is the developer / construction company?
- Is the price adequate to market demand.
- Is there a freight elevator other than a passenger elevator?
- Safety fire plan.
- Number of entrances.
- Infrastructure improvement (lobby, yard, security service).
Real estate in the Georgian market can be purchased without the help of a realtor, as most companies have an in-house marketing and sales team that provides these services. But it should be noted that overseas customers often buy real estate with the help of realtors. The reason is that overseas realtors are launching powerful marketing campaigns in the market. At the same time, Georgia provides the widest opportunities for the purchase of real estate by a foreigner. In our country there are no restrictions or conditions for anyone to buy real estate.
— Tell us about your company. How long has been on the market? How do your new buildings compare favorably with others?
— Roof Development is a development company founded in 2017. The company has 4 completed and settled projects. In addition it has 5 ongoing projects. The company is staffed with highly qualified employees, which ensures the creation of custom-made residential complexes.
Our core value is to promote urban development. We are focused on quality, which is the most important thing for your life. The company’s mission is to create a safe, healthy and cozy living environment. Our goal is also to develop the real estate sector and introduce innovations in the Georgian market. All construction of the company is funded at the initial stage, which guarantees timely completion. Roof Development and Roof Construction create a single construction platform that combines various projects in Georgia.
Gagarin’s project stands out from the current projects. Which is located in the most prestigious district of Tbilisi, Saburtalo. It is noteworthy that most apartments in this district are bought for both housing and investment. Also, the value of real estate located here is growing every year.
Roof Development’s new project Roof Gagarini features a modern architecture that creates a premium quality residential complex. The project consists of 12 floors and is distinguished by particularly good plans. The elevator, equipped with a UPS system, provides safe movement for the residents. The project has a yard, lobby, concierge, two-level parking, and security systems. The project includes a business center and an apartment rental service. The highest quality construction materials are used in the construction process.
Roof Development’s new project Roof Imedashvili features a modern architecture that creates a premium quality residential complex. The project consists of 9 floors and is distinguished by particularly good plans. The elevator, equipped with a UPS system, provides safe movement for the residents. The project has a yard, two-level parking, and security systems. The highest quality construction materials are used in the construction process.
You can see other projects of the company on the Realting.com platform.
Choose the option of your apartment that you like and leave a request. A company specialist will contact you as soon as possible.
- Distinguished by good plans. Which houses both a studio and a separate bedroom. Ideal for rental.
- Beautiful views of Tbilisi. It is good for both housing and investment.
- Is in Gagarin B block. Each square meter of the apartment is utilized to the maximum. Which can be ideally used for living.
