In the second quarter of 2022 the Residential Property Price Index (RPPI) in Georgia increased by 0.7% compared to the previous quarter, while the annual increase amounted to 4.5%, - according to the National Statistics Office of Georgia.
As of the document, compared to the 2020 average, the index change amounted to 13.9%. The RPPI covers the market of new residential property in Tbilisi, both flats and detached houses segments.
In the second quarter of 2022 a price increase compared to the previous quarter was registered in flats segment (2.2%). In the same period, the prices decreased for detached houses (-2.4%).
Compared to the second quarter of 2021, the prices increased in flats segment by 8.2% and decreased for detached houses by 3.5%.
Median Prices of 1m2 in the newly-built residential properties by districts:
Mtatsminda - 4,339 GEL;
Vake - 3,845 GEL;
Krtsanisi - 2,937 GEL;
Saburtalo - 2,927 GEL;
Chugureti - 2,856 GEL;
Didube - 2,814 GEL;
Nadzaladevi - 2,740 GEL;
Isani - 2,580 GEL;
Gldani - 2,558 GEL;
Samgori - 2,451 GEL.
