Residential property price index up in Tbilisi

The residential property price index, which measures the price evolution for residential spaces, increased by 2.9% year-on-year in Georgia in the fourth quarter of 2023, the Georgian National Statistics Office said.

According to the office, the annual increase amounted to 12.8%.

The index covers the market of new residential property in Tbilisi, for both flats and house segments. 

In the reporting period a price increase compared to the previous quarter was registered both in flats (2.5%) and house (4.3%) segments, while year-on-year the prices increased by 14.1 percent for flats and by 8.6% for houses, the statistics body added.