According to Geostat, the price of new residential real estate in Tbilisi slightly decreased in 3Q24 compared to the previous quarter, but growth is still recorded y-o-y.
In the third quarter of 2024, a price decrease compared to the previous quarter was registered both in flats (-1.1 percent) and detached houses (-0.2 percent) segments.
Compared to the third quarter of 2023, the prices increased in both segments, for flats by 7.5 percent and for detached houses by 9.7 percent.
According to the districts of Tbilisi, the price per square meter of newly built (completed) apartments ranges from 3,232 GEL (Samgori) to 5,717 GEL (Mtatsminda).
The following graph represents the median prices of 1m2 in the newly-built residential properties in the third quarter of 2024 in Tbilisi, by districts:
PRICE OF 1M2 FOR FLATS
Mtatsminda - 5,717 GEL;
Vake - 5,202 GEL;
Saburtalo - 4,007 GEL;
Chugureti - 3 903 GEL;
Didube - 3 651 GEL;
Krtsanisi - 3 635 GEL;
Nadzaladevi - 3,612 GEL;
Gldani - 3 394 GEL;
Isani - 3 388 GEL;
Samgori - 3 232 GEL.
PRICE OF 1M2 FOR DETACHED HOUSES
Mtatsminda - 4 517 GEL;
Didube - 3 642 GEL;
Vake - 3 593 GEL;
Saburtalo - 3 138 GEL;
Krtsanisi - 2 790 GEL;
Chugureti - 2 725 GEL;
Isan - 2 717 GEL;
Samgori - 2 547 GEL;
Nadzaladevi - 2 441 GEL;
Gldani - 2 418 GEL.
