| Issue: | 2024 №3 (87) |
| Section: | Economic theory |
| UDK: | 33.014.2:332.72+311 (479.22) |
| DOI: | https://doi.org/10.33271/ebdut/87.028 |
| Article language: | English |
| Pages: | 28-33 |
| Title: | Real estate market problems and their analysis in statistics of Georgia |
| Authors: | Kokashvili N. B., Gori State University, (Georgia),
Osadze L. T., Gori State Teaching University, (Georgia),
Sosanidze M. O., Gori State Teaching University, (Georgia) |
| Annotation: | Methods. The research is based on the use of empirical research methods, the source of which was the statistical data of the National Statistics Service of Georgia regarding the state of the Georgian real estate market and the level of housing prices. The method of analysis and synthesis, the index method, and the method of comparisons were used for the theoretical substantiation of trends in the development of the real estate market, as well as for the purpose of clarifying their causes. Results. It has been demonstrated that in recent years the residential real estate market in Georgia has been characterized by greater or lesser volatility and a tendency towards an increase in the general level of prices. The main reasons for the change in price dynamics have been determined, including international and geopolitical events, in particular the Covid-19 pandemic and large population migrations due to the start of the Russian-Ukrainian war. Two key components are identified in the overall structure of demand for real estate, namely: needs-based buying, which is determined by fundamental factors (such as urbanization, family size, etc.), on the one hand, and investment investment, which is determined by the amount of profit from rent and invested capital. Novelty. The main trends in the development of the real estate market are outlined. It was determined that the market conditions in Tbilisi are characterized by an excess of demand over supply, and the problem of their balance is aggravated by the concentration of the economic and cultural life of the country's population in the capital, the low level of housing provision and the dramatic results of construction companies. Practical value. Accurate forecasting of housing prices helps the government determine appropriate regulatory policies, help investors formulate sound investment strategies, and promote the healthy and long-term development of the real estate market. |
| Keywords: | Real estate, Real estate market, Property rights, Price index, Consumer price index, Private houses, Need-based purchasing, Accumulated wealth |
| File of the article: | EV20243_028-033.pdf |
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