Residential real estate prices in Georgia remain high. According to the data of residential real estate prices for the IV quarter of 2023 published by Saxstat, compared to the previous quarter, the residential real estate price index (RPPI) increased by 2.9%, and the annual growth of the index amounted to 12.8%. Compared to the average of 2020, the index has increased by 39.8%.

Compared to the previous quarter, the increase in prices was recorded both in residential apartments (2.5%) and private houses (4.3%). Compared to the IV quarter of 2022, the price increase was observed in both segments - in the case of apartments, the prices increased by 14.2%, and for private houses by 8.6%. According to Geostat data, in the fourth quarter, the median price of 1m² in the segment of newly built housing is as follows:

• Mtatsminda - 5528 GEL;
• Vake - 4900 GEL;
• Saburtalo - 3767 GEL;
• Krtsanisi - 3577 GEL;
• Chugureti - 3480 GEL;
• Didube - 3375 GEL;
• Nadzaladevi - 3361 GEL;
• Isani - 3273 GEL;
• Gldani - 3238 GEL;
• Samgori - 3065 GEL.
  
  

It is a noteworthy fact that in ten months of 2023, the number of apartment sales in Tbilisi amounted to approximately 33 thousand, while the sales of newly built apartments in the market are steadily increasing. According to the research, in ten months of 2023, the volume of sales in the primary real estate market increased by 300 apartments compared to the same period last year, and by 2.7 thousand compared to the same period in 2021.

The main part of the apartments for sale in new residential buildings in Tbilisi are up to 80 square meters, and the average area of ​​the sold apartments is 68 square meters. According to the regions, the demand per square meter of apartments for sale in Tbilisi is as follows:

• Mtatsminda and Vake - up to 96 square meters;
• Gldani and Samgori - up to 60 square meters;
• Saburtalo, Didube and Isani - up to 50 square meters.