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Daily Archives: 19/09/2011

Real Estate: Selling And Hoping

19 Monday Sep 2011

Posted by eurocaucasus in Uncategorized

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House for rent, selling houses

Every day, dozens of people are gathering in the Ninth April Park of Tbilisi, to sale and buy houses.

By Armine Narinyan and Ayten Alakbarova

In Georgia, if you want to rent a house, it might be better to go in a park than in any real estate agency. Since taxes are very high, most of the people do not have enough money to find a house through those agencies.

So they are gathering in the Ninth April Park and exchanging tips to find a cheap accomodation. Here there are not only locals but also Armenians and Azerbaijanians, with different professions : a young boy who speaks 6 languages, a taxi driver, a teacher etc… All of them are waiting for clients.

In this curious open air market, you can find everything: one flat in the city center or a house, with a wide range of prices, between 23 000 et half million dollars.

Since the Russian-Georgian war in 2008, prices in real estate market are sinking: most of the properties lost their value as well as the income of people have drastically decreased…

Like many Internally Displaced Persons –IDP– from Abkhazia and Ossetia, Mzia Nachkebi has been promised a new house by the government. The process of relocation unfortunately takes times and many people remain without any roof during months.

Still, people try to keep faith in the future.

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