New apartments in Batumi increased in price by 20%, and old apartments by 12% - colliers

According to "Colliers" research, in March 2023, the number of residential apartment transactions in Batumi increased by 16% compared to March last year, to 1,399 units, and the market size increased by 32% and amounted to 63 million USD. 

According to the data, in March 2023, the number of transactions of newly built apartments increased by 17%, and in the case of old apartments, this figure is 12%.

"In Batumi, in March 2023, the demand for newly built premium segment apartments increased significantly by 101%. In the medium segment, a 5% increase in the number of transactions was recorded, while the indicator remained approximately the same in the economy sector.

In Batumi in March 2023, the weighted average price of newly built apartments increased by 20% and amounted to USD 909 per square meter. In the case of old apartments, the rate has increased by 12% to 702 US dollars," the "Colliers" research notes.