In the fourth quarter of 2023 the Residential Property Price Index (RPPI) in Georgia increased by 2.9% compared to the previous quarter, while the annual increase amounted to 12.8%, - according to the preliminary data from the National Statistics Office Of Georgia.
As of the document, compared to the 2020 average, the index change amounted to 39.8%. The RPPI covers the market of new residential property in Tbilisi, both flats and detached houses segments.
In the fourth quarter of 2023 a price increase compared to the previous quarter was registered both in flats (2.5%) and detached houses (4.3%) segments. Compared to the fourth quarter of 2022, the prices increased in both segments, for flats by 14.2% and for detached houses by 8.6%.
