During the third quarter of 2024, Georgia’s residential Property Price Index (RPPI) declined by 0.9% despite its annual increase of 8% in previous years, National Statistics Office of Georgia (Geostat), reports. Measured against the 2020 average, the RPPI has increased by 46.7%.
The index illustrates prices in new residential market of Tbilisi, including flats and standalone houses. Below are the exact numbers of decline:
Flats: 1.1%
Standalone houses: 0.2%
However, measured against 2023, different comparisons can be drawn:
Flats: rose by 7.5%
Standalone houses: rose by 9.7%
