"In the 4th quarter of 2022, the Residential Property Price Index (RPPI) in Georgia increased by 5.5% compared to the previous quarter, while the annual increase amounted to 14.3%," - the National Statistics Office of Georgia (GeoStat) stated.
Compared to the 2020 average, the index change amounted to 24.0%. The RPPI covers the market of new residential property in Tbilisi, both flats and detached houses segments.
In the 4th quarter of 2022, a price increase compared to the previous quarter was registered both in flats (3.8%) and detached houses (8.9%) segments.
Compared to the fourth quarter of 2021, the prices increased in both segments, for flats by 12.5% and for detached houses by 18.0%. The following graph represents the dynamics of the total RPPI and its sub-indices, as well as the Consumer Price Index, the GeoStat reported.
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