As more families want to live in a private house, the demand for residential plots is increasing. As a result, the areas surrounding the city are actively developing, and land plot prices are steadily rising.
Property Georgia spoke to Nino Absandze, consultant for the ‘Lisi Topograph’ project, regarding the current trends.
– Nino, the ‘Lisi Topograph’ has been on the market since 2021; you are developing a large residential area on the shores of Lisi Lake; what are your thoughts on the demand for land plots?
Lisi Topograph is an area that has to be built on 42 hectares, with 244 plots for private house construction starting at 1000 m2. In addition, the project includes 5 parks with sport fields (tennis court, football pitch, and basketball court), a skate park, children’s entertainment areas, and a 5 km cycle lane. Lisi Topograph is being built 500 meters from Lisi Lake’s shores.
The area has quickly become a very desirable place to live in Tbilisi, owing to the fact that we provided people with exactly what they were looking for outside of the city limits. This is a private house neighborhood that fully meets the needs of a modern person: wide streets, parks, greenery, urban infrastructure, and close proximity to Lisi lake; as a result, the process of selling the land plot is moving quickly.
– At what stage is the project now, and did the price increase occur in accordance with Lisi Topograph land plots?
The prices of the project’s land plots have risen by 30% in the last year. It was due to the high demand on the one hand, and the massive infrastructure works that were implemented during this project on the other. The transmission of central communications to each land plot will be completed by the end of the year.
– What part of the territory is already sold?
The territory is divided into four conditional sectors (A, B, C, D). Nowadays up to 90% of the plots in A and B sectors are already sold, also the plots in C sector are being sold rapidly, so we decided to start selling the plots of D sector as well, so to offer a wide variety of choice to our customers. The statuses of all land plots are available on the website www.topograph.ge.
– What are the expectations regarding the price increase?
Prices are constantly rising in accordance with the progress of this project. However, we anticipate a significant increase in prices at the beginning of the year, as the construction of dozens of houses begins by this time. The number of available plots is also decreasing on a daily basis.
Aside from that, the active furnishing and greening of the parks begins this spring, which will motivate all customers who are currently observing. I think that prices will increase about at least by 20% soon.
Lisi Topograph is a western-style, low-rise, modern, private settlement that is quickly becoming Tbilisi’s most prestigious and desirable residential area. The entire infrastructure will be completed at the end of 2023.