In January 2025, the Construction Cost Index (CCI) decreased by 3.2% compared to the previous month, while it increased by 5.9% compared to January 2024, according to the preliminary data from the National Statistics office of Georgia (Geostat).
In detail:
⦁ The residential segment index decreased by 2.2% compared to the previous month and increased by 9.3% compared to the same month of the previous year;
⦁ The non-residential segment index decreased by 9.3% compared to the previous month and by 2% compared to the same month of the previous year;
⦁ The civil segment index decreased by 2.2% compared to the previous month and increased by 5.4% compared to the same month of the previous year.
In January 2025 the Construction Cost Index (CCI) decreased by 3.2 % compared to the previous month. The change was mainly due to a 21.3% decrease in average monthly nominal wages of employees in the construction sector, which contributed -4.19 percentage points to the total index change.
Compared to January 2024 the CCI increased by 5.9%. The latter was largely caused by the 22.2% increase in average monthly nominal wages of employees in the construction sector and by the 3.6% increase in the prices of construction materials, which contributed 3.47 and 2.28 percentage points to the total index change, respectively. Along with this, the Construction Cost Index posted an 18.85% increase compared to February 2022.
