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Residential property price goes up in Georgia

by Georgia Today
July 24, 2023
in Business & Economy, Highlights
Reading Time: 1 min read
Residential property price goes up in Georgia

In the second quarter of 2023, the Residential Property Price Index (RPPI) in Georgia increased by 3.0 percent compared to the previous quarter, while the annual increase amounted to 13.1%, the Georgian National Statistics Service (GeoStat) reported.

Compared to the 2020 average, the index change amounted to 28.8%. The RPPI covers the market of new residential property in Tbilisi, both the flats and detached houses segments.

In the second quarter of 2023, a price increase, compared to the previous quarter, was registered both in flats (3.4%) and detached houses (1.6%) segments.

Compared to the second quarter of 2022, the prices increased in both segments, for flats by 10.6% and for detached houses by 16.2%.

In Tbilisi, residential property prices rose the highest in Mtatsminda, Vake, Krtsanisi, and Saburtalo.

Tags: Residential propertiesResidential property price goes up in Georgia
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