National Statistics Office of Georgia reports that Georgia‘s Residential Property Price Index (RPPI), which had increased by 8% annually in the previous years, declined by 0.9% during the third quarter of 2024. The RPPI is 46.7% higher than the average for 2020.
The index shows the prices of new residential properties in Tbilisi including apartments and detached houses. Below are the exact numbers for decline:
Flats: 1.1%
Standalone homes: 0.2%
Different comparisons can be made based on 2023.
Flats: a 7.5% increase
Stand-alone houses: grew by 9.7%
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