Regional Residential Real Estate - 3Q24 Overview

After record-high demand in 2022-2023, Batumi real estate market experienced a slowdown in 2024. This decline can be attributed to several factors, including a gradual outflow of migrants, rising prices, high interest rates, and domestic political instability. Despite these challenges, Batumi’s real estate market remains one of the highest-yielding in comparison to many peer cities, and prices continue to rise, albeit at a slower pace. We expect prices to stabilize at current levels in 2025 and see upside potential if interest from foreign buyers increases further.