Slow down in sales: Real estate in the ski resorts of Georgia is declining

The first half of 2023 turned out to be difficult for the real estate market in the ski resorts of Georgia – Bakuriani and Gudauri. According to the latest review by the investment company Galt&Taggart, sales of residential real estate in these attractive regions decreased by 23.2% and 34.7%, respectively. This is a significant drop that attracts the attention of experts and investors.

In the first two quarters of this year, 443 real estate objects were sold in Bakuriani, which is 23.2% less than in the same period last year. Real estate in the Gudauri ski resort also experienced a decline in demand: a total of 167 properties were sold in the first half of 2023, which is 34.7% less than in the same period in 2022.

The drop in sales has also had an impact on housing prices in these areas. In the second quarter of this year, the cost per square meter of housing in Bakuriani is about 1.1 thousand dollars, while in Gudauri – 1.4 thousand dollars. This also means a decrease compared to previous periods.

Bakuriani and Gudauri are not only ski areas, but also attractive tourist places with a rich history and a unique atmosphere. Bakuriani is famous for its active ski slopes, while Gudauri attracts fans of extreme sports with snow trails and panoramas of the highlands.

Experts are sure that the decline in sales and prices of real estate in ski resorts may be a temporary phenomenon associated with various factors, such as the economic situation and tourist flow. Nevertheless, Georgia retains its attractiveness for investors and lovers of ski holidays, and in the future the demand for real estate in these resorts may recover.