According to Kakhaber Samkurashvili, a senior real estate analyst, in 2021, we do not expect much growth in this industry.
According to him, the expectations for 2021 depend on the state of economic recovery. If the economy grows rapidly, real estate sales will grow rapidly, and when they do, the real estate transaction will be affected.
He added: “The growth of the real estate industry will also depend on how long these unstable conditions continue.” I hope that at least in the second half of 2021 we will return to normal life to help the housing market in some way. The tourism industry is also important in the prosperity of the housing industry. Because with the arrival of travelers from different countries, property owners can earn extra income by temporarily renting their homes.
He added that the Batumi real estate market also depends on the amount of purchasing property by foreigners. We are witnessing a sharp decline in sales in the Batumi real estate market, and the situation in this market will not improve significantly until the tourism industry takes a positive trend.
He noted that if the current expectations for the situation in Corona continue, the housing market in the middle of 2021 will meet the conditions.
Normal will return.
Better growth in the real estate market is conceivable if conditions are better than expected. In general, next year, when there will be no mortgage, will be a difficult year.
The relationship between the tourism industry and the economy
In general, the tourism industry in Georgia is very important because it is directly related to the economy of this country and due to the current situation related to the corona virus and the closure of borders and the lack of tourists to this country naturally witnesses economic recession in other sectors. According to Kakhaber Samkurashvili, in the second half of 2021, we will see an upward growth in the real estate market in this country.
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