In May, sale and rental prices for residential property in Tbilisi were lower by 4.0% and 3.3% resectively than in the same month a year earlier.
The selling prices of residential property declined in May, both in monthly and annual terms. Despite this, the trend line on Chart 1 indicates a tendency towards an overall price increase since Feb. 2013.
Rent prices showed a decline in annual terms (3.3%, compared to May 2013), but the overall price trend remained stable on the rental market over the year, despite large seasonal fluctuations. Download the full report
Real Estate Prices Index Recent Publications
Real Estate Market Highlights, #20 | Apr-Jun 2021
The Residential Sales Price Index (SPI) for Tbilisi increased moderately in April and May of 2021, however it decreased slightly in June and amounted to 114.4 index points (equaling 100 in the base period of January 2019). Compared to the second quarter of 2020, the SPI showed an increase in Q2 2021 – with the largest change of 7.9% (YoY) in June 2021. Consistent downward trends in the Rent Price Index (RPI) in 2021 reversed in May… Read More
Real Estate Market Highlights, #19 | Jan-Mar 2021
After a decline in January 2021 compared to December 2020, the Tbilisi Residential Sales Price Index (SPI) showed an upward trend in Q1 2021, increasing from 110.7 index points in January 2021 to 113.5 index points in March 2021 (the index is equal to 100 in the base period, January 2019). Nevertheless, compared to the first quarter of 2020, SPI showed a decline in Q1 2021, with the largest drop of 2.4% (YoY) occurring in February 2021. Unlike… Read More
Real Estate Market Highlights, #18 | Jan-Dec 2020
The Tbilisi Residential Sales Price Index (SPI) showed no significant fluctuations from the beginning of 2020; varying between 113 and 114 index points (the index equals 100 in the base period, January 2019). However, the COVID-19 pandemic and consequent economic effect of the lockdown hit the real estate market, resulting in significant deterioration of the SPI, which decreased by 4.1% (MoM) from April to May and a further 2.7% (MoM) from May to June. For the remainder of the… Read More
Real Estate Market Highlights, #17 | April-June 2020
In comparison to Q1 2020, the GEO real property market contracted significantly by 45.5% in Q2 2020 (from 27,273 units sold in Q1 2020 to 14,855 in Q2 2020) while the annual decrease was observed at 53.6% (YoY) compared to Q2 2019. Tbilisi dominated the real property market with a 36.2% share in total sales in Q2 2020. The Tbilisi market was followed by Kakheti and Kvemo Kartli, with a respective 12.9% and 8.9% of GEO sales. The… Read More
Real Estate Market Highlights, #16 | January-March 2020
In comparison to Q4 2019, the GEO real property market contracted by 21.2% in Q1 2020 (from 34,602 units sold in Q4 2019 to 27,273 in Q1 2020) while the annual decrease was observed at 4.3% (YoY) compared to Q1 2019. Tbilisi dominated the real property market with a 42.8% share in total sales in Q1 2020. The Tbilisi market was followed by Kakheti and Adjara, with a respective 12.6% and 8.8% of GEO sales. The highest annual… Read More
