The global economy is undergoing changes in the post-pandemic. What are they and how will they affect the Georgian real estate market? Should we be afraid of the bubble that economists talk about? | Sea Inside
The end of the past and the beginning of the new year were marked by high inflation throughout the world. The situation in the real estate market depends on whether it will remain at the achieved level or go down, as predicted by the European Central Bank (or maybe, on the contrary, up – a number of analysts also express this opinion).
Sea Inside experts have long been saying that real estate in some countries and cities has been overvalued in recent years. Among other things, this was facilitated by business support packages, which many financial institutions resorted to during the pandemic. However, the coronavirus pandemic is coming to an end, and it is expected that banks will soon begin to roll back stimulus measures.
This can cause real estate speculation. Will there be a real estate bubble in Georgia? It should be noted that the eurozone market is expanding – new territories appear with potentially attractive residential complexes, both for living and earning. This may lead to the fact that in the near future prices for houses and apartments will change – most likely, upwards. Another argument in favor of the fact that apartments and houses will rise in price is the increase in prices for building materials in 2021. This will affect the pace of construction – in the coming years they will decrease, which means that the cost of apartments will increase. Those wishing to buy an apartment in Georgia should hurry – by buying apartments in resorts and in the capital, you can save and increase your savings.
