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