May 19, 2014
The Commersant.ge news website talked with Koba Bobokhidze, lawyer at Mgaloblishvili Kipiani Dzidziguri (MKD), about perspectives of the housing construction sector development in the Georgian capital. The respective article called “Will there be a construction boom in Tbilisi, or not – Tbilisi City Hall issued 200 construction permits for residential buildings” was published on Commersant.ge .
The lawyer says that in 2013 and in the first quarter of 2014 the City Hall issued about 1800 building permits, 200 out of them were for multi-storey residential buildings. This fact signifies some revival in the construction sector which may result in the beginning of the construction boom in Tbilisi in about 15 months.
“On the one hand, this is a good signal to the consumer market, where residential property prices are still high and the declining trend has not being observed yet. In this respect, the expected construction boom may reduce the prices," explains Koba Bobokhidze.