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Real estate prices up by 300-400% in last eight years

Even though demand on real estate is low in Tbilisi, apartment prices are not decreasing. Since 2004, real estate prices have increased dramatically, according to Rezonansi. Prices have increased by approximately 50%, but in reality growth is higher, say housing experts.

Rezonansi's financial section compared the prices of new and Soviet-era apartments between 2004 and today. They found that the price of an apartment increased not by 50%, but by 300-400%.

In 2004, apartments in a new building cost $200 per square metre; today, its price is approximately $800, equaling a growth of 400%. That same year, a person could have bought a three-bedroom house for $18,000; whereas today, that same house costs $60,000 – an increase of 300%.

Prices have increased in all neighbourhoods of Tbilisi, which brokers link to increased demand from buyers.



Natelashvili accuses Merabishvili of holding negotiations with Russia

Leader of the Georgian Labour Party, Shalva Natelashvili, has accused Minister of Internal Affairs Vano Merabishvili of colluding with Russian companies and the Russian government. Akhali Taoba informs.

Natelashvili also accused Merabishvili of holding secret negotiations with Russia. The Minister recently met with the Russian Interior Minister in Yerevan, which was officially about the death of an Armenian public figure. Natelashvili says that it was the Labour Party who brought this to the public's attention.

He also accused Georgian Dream leader Bidzina Ivanishvili of being too close to Merabishvili. "I know that Merabishvili is in constant consultation and connection with Bidzina Ivanishvili. We all know that Ivanishvili has praised Merabishvili various times for being a good manager, who was facing removal from his post, and Ivanishvili went against it. Ivanishvili went even farther and stated that Merabishvili could form his own party and start political activities. They cannot even hide this connection; there are constant consultations between these two," he claimed.