Real estate in Tbilisi has become more expensive - Georgian National Statistics Service
Real estate in Tbilisi has risen in price
According to the National Statistics Service, in the second quarter of 2023, compared to the previous quarter, the residential real estate price index increased by 3.0 percent, and the annual growth of the index was 13.1 percent.
In the second quarter of 2023, an increase in prices was seen both in the segment of residential apartments (3.4 percent) and private houses (1.6 percent). Compared to the second quarter of 2022, prices increased in both segments by 10.6 percent for apartments and by 16.2 percent for private houses.
Prices per square meter in the segment of apartments are distributed as follows:
● Mtatsminda – 5,167 lari [about $2,000]
● Vake — 4,404 lari [about $1,700]
● Krtsanisi – 3,417 lari [about $1,325]
● Saburtalo – 3,397 lari [about $1,318]
● Chugureti – 3,284 lari [about $1,274]
● Didube – 3,131 lari [about $1,215]
● Nadzaladevi — 3,006 lari [about $1,166]
● Isani — 2,917 lari [about $1,130]
● Gldani — 2,891 lari [about $1,120]
● Samgori – 2,718 lari [about $1,054].
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As for private houses, the cost of one square meter in terms of area looks like this:
● Mtatsminda – 3,776 lari [about $1,465]
● Vake — 3,647 lari [about $1,415]
● Krtsanisi – 2,811 lari [about $1,090]
● Saburtalo – 2,628 lari [about $1,020]
● Chugureti – 2,622 lari [about $1,017]
● Didube – 2,287 lari [about $887]
● Nadzaladevi – 2,272 lari [about $881]
● Isani — 2,170 lari [about $842]
● Gldani — 2,123 lari [about $823]
● Samgori – 1,955 lari [about $758].
To calculate the residential property price index (RPPI), the national statistics service collects the necessary data from web pages containing advertisements for the sale of residential real estate.
According to the statistics service, the data were obtained from web pages by means of automatic downloading of information (so-called web scraping).
