Batumi Real Estate Market Overview

Batumi, as the second largest city in Georgia and an important economic center located on the Black Sea coast, is interesting and attractive for investors. In recent years, Batumi has been actively developing, which has led to a growing demand for both residential and commercial real estate.

In Batumi, 10,895 transactions were recorded in 9 months of 2024, which is a 10.7% decrease year-on-year. According to updated regional data from research organization Galt & Taggart, the decrease is recorded in both the primary and secondary (old-built buildings) markets, despite this, prices show a slight increase from month to month.

According to experts, despite the decrease in transactions, according to information from Colliers Georgia, the weighted average price of newly built apartments increased by 14% and amounted to $ 1,141 per m². In the case of old apartments, the figure increased by 11%, to 1,014 USD per m².

A large amount of tourist infrastructure is being built in Batumi, which is boosting the construction of hotels and resorts. New projects of hotels, residential buildings and commercial buildings are receiving great attention (in total, 4.6 million vacationers visited in 2024).

• Developed tourism – Batumi is considered one of the main tourist destinations in Georgia. This creates high demand for residential and commercial space for rent, especially during seasonal periods.
• Buying and selling apartments – Property prices in the city have shown an upward trend in recent years, especially in new buildings. Prices mainly depend on the location of the microdistrict and infrastructure.
• New apartments – Construction of new buildings is actively underway in Batumi, which will increase the choice of residential space. Apartment prices in this case are high, but the quality of construction varies from different developers.
• Tourist and commercial real estate – Due to the demand of tourists and businesses, the demand for penthouses and hotels in Batumi is increasing. Therefore, the sale and rental of commercial spaces is relevant.

Batumi represents an interesting and steadily growing real estate market, especially for people who are interested in resort or commercial interests. However, it is important for potential buyers to pay attention to the reputation of developers and market trends.