According to Galt & Taggart’s Q1 2024 survey, Georgia’s real estate sector entered a transitional phase. The market responded to two key pressures: rising interest rates and a gradual decline in the number of new migrants. While Q1 marked a temporary slowdown in transactions, analysts observed renewed activity in Q2 and Q3, driven by underlying demand and seasonal dynamics.
One of the clearest trends of the year was the geographic shift in development activity. With land in central Batumi becoming increasingly scarce, the real estate landscape expanded outward—along the picturesque yet increasingly strategic Adjara coastline. Areas such as Chakvi, Tsikhisdziri, Kobuleti, and Shekvetili emerged as the next wave of growth, offering both development potential and lifestyle appeal.
Key insights from the survey:
- Batumi’s primary market recorded an 11.4% year-on-year price increase
- Development moved into high-potential coastal areas with growing buyer interest
- Sustaining rental profitability remained a critical factor in attracting foreign buyers and maintaining demand
This expansion marked a new chapter for Batumi. No longer confined to its urban core, the city evolved into a broader, more diversified real estate destination. Infrastructure improvements, rising tourism, and growing interest in second residences fuelled demand across a wider geographic footprint.
The coastline became more than a scenic backdrop—it turned into a growth corridor. Strategic investment along the Black Sea reshaped the map of opportunity in western Georgia, offering a compelling mix of lifestyle, returns, and long-term potential.
For stakeholders watching the region, the message was clear: coastal expansion was not a side trend—it became a defining direction for 2025 and beyond.
One of the clearest trends of the year was the geographic shift in development activity. With land in central Batumi becoming increasingly scarce, the real estate landscape expanded outward—along the picturesque yet increasingly strategic Adjara coastline. Areas such as Chakvi, Tsikhisdziri, Kobuleti, and Shekvetili emerged as the next wave of growth, offering both development potential and lifestyle appeal.
Key insights from the survey:
- Batumi’s primary market recorded an 11.4% year-on-year price increase
- Development moved into high-potential coastal areas with growing buyer interest
- Sustaining rental profitability remained a critical factor in attracting foreign buyers and maintaining demand
This expansion marked a new chapter for Batumi. No longer confined to its urban core, the city evolved into a broader, more diversified real estate destination. Infrastructure improvements, rising tourism, and growing interest in second residences fuelled demand across a wider geographic footprint.
The coastline became more than a scenic backdrop—it turned into a growth corridor. Strategic investment along the Black Sea reshaped the map of opportunity in western Georgia, offering a compelling mix of lifestyle, returns, and long-term potential.
For stakeholders watching the region, the message was clear: coastal expansion was not a side trend—it became a defining direction for 2025 and beyond.