In 2Q2024 the Residential Property Price Index (RPPI) in Georgia increased by 4.8% compared to the previous quarter, while the annual increase amounted to 14.9%, - according to the National Statistics Office of Georgia (Geostat). Compared to the 2020 average, the index change amounted to 48.1%. The RPPI covers the market of new residential property in Tbilisi, both flats and detached houses segments.
In the second quarter of 2024 a price increase compared to the previous quarter was registered both in flats (4.8%) and detached houses (4.6%) segments. Compared to the second quarter of 2023, the prices increased in both segments, for flats by 14.4% and for detached houses by 16.8%.
The following graph represents the median prices of 1m2 in the newly-built residential properties in the second quarter of 2024 in Tbilisi, by districts:
