In the third quarter of 2024 the Residential Property Price Index (RPPI) in Georgia decreased by 0.9 percent compared to the previous quarter, while the annual increase amounted to 8.0 percent. Compared to the 2020 average, the index change amounted to 46.7 percent. The RPPI covers the market of new residential property in Tbilisi, both flats and detached houses segments. The following table shows percentage changes of the RPPI compared to the previous quarter, the corresponding quarter of the previous year and to 2020 average.

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.

The following graph represents the dynamics of the total RPPI and its sub-indices, as well as the Consumer Price Index.

Source: National Statistics Office of Georgia

See detailed information: https://www.geostat.ge/media/66388/Residential-Property-Price-Index---III-quarter-of-2024.pdf