Prices of flats, houses in Tbilisi rose in Q1 2023 - Statistics Office
Released on Monday, the Index pointed to a 9.3 percent increase in prices for flats and 11.6 percent for houses compared to 2022. Photo: Nino Alavidze/Agenda.ge
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Buying a flat or a house in the Georgian capital of Tbilisi became more expensive in the first quarter of the year, the latest Residential Property Price Index of the National Statistics Office of Georgia showed.
Released on Monday, the Index pointed to a 9.3 percent increase in prices for flats and 11.6 percent for houses compared to 2022.
The cost of flats in Mtatsminda district was observed at ₾4,919 ($1,963) per square metre, with the figure standing at ₾3,619 ($1,444) for houses.
The figures showed Mtatsminda prices to be the highest, followed by Vake and Saburtalo districts.
The Index also showed median prices of residential spaces in newly built properties per district:
Image: Geostat
The Georgian Government on Monday approved an act allowing local authorities across the country to renovate or demolish buildings that “distort the look of their municipalities” or “cause safety issues”.
Demand for residential real estate across Georgia is increasing along with prices on houses and flats, the National Bank of Georgia said in its latest real estate sector study, published on Tuesday.
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