GeoStat: Residential Property prices go up in Tbilisi

13:22, 23.07.2024

In the second quarter of 2024, the Residential Property Price Index (RPPI) in Georgia increased by 4.8 percent compared to the previous quarter, while the annual increase amounted to 14.9 percent, the National Statistics Service (GeoStat) reported.

Real estate in newly built multi-apartment buildings in Tbilisi is the most expensive in Mtatsminda and the cheapest in Samgori. As for private houses, here too, Mtatsminda ranks first in value, and Gldani the least.

Compared to the 2020 average, the index change amounted to 48.1 percent. The RPPI covers the market of new residential property in Tbilisi, both flats and private houses segments.

In the second quarter of 2024, a price increase compared to the previous quarter was registered both in flats (4.8 percent) and private houses (4.6 percent) segments.

Compared to the second quarter of 2023, the prices increased in both segments, for flats by 14.4 percent and for private houses by 16.8 percent.

By - Elene Dobordjginidze

Economics

Real Estate

Геостaт