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Construction Sector Crisis in Georgia

Published: June 10, 2013 | 4:23 pm
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Crisis in Georgia’s Construction Sector The number of registration transactions on Georgia’s real estate market this year has made 65 000, according to Public Registry. The indicator is a big drop compared to the last three year data. Part of the developers say the reason of the demand decrease is the deficit that has occurred on Georgia’s primary market. Dona Group representative told TV 3 that during the last 4-5 years construction dynamic in the country has slowed down and 70-80% of space was already sold during the construction process. As the representative of another developer Azimut told TV3, primary market deficit and price rise is inevitable unless construction dynamic increases.

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