“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%,” - the National Statistics Service (GeoStat) reported.

Compared to the 2020 average, the index change amounted to 46.7%.

The RPPI covers the market of new residential property in Tbilisi, both flats and detached houses segments. 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.