In the first quarter of 2023 the Residential Property Price Index (RPPI) in Georgia increased by 0.9 percent compared to the previous quarter, while the annual increase amounted to 10.7 percent. Compared to the 2020 average, the index change amounted to 25.1 percent. The RPPI covers the market of new residential property in Tbilisi, both flats and detached houses segments.
In the first quarter of 2023 a price increase compared to the previous quarter was registered in flats segment (2.4 percent). In the same period, the prices decreased for detached houses (-3.5 percent). Compared to the first quarter of 2022, the prices increased in both segments, for flats by 9.3 percent and for detached houses by 11.6 percent.
