15:52 - 24.07.2023

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July 24, Fineko/abc.az. Residential buildings in Georgia rose in price by 13% year-on-year in the 2nd quarter of 2023, ABC.AZ informs with reference to the report of the Georgian National Statistics Service.

In the period from April to June of this year, apartment prices increased by 28.8% compared with the 2020 average, and the cost of courtyard houses by 29.2%.

The price growth was recorded compared with Q1 of this year.

So, in April-June, prices for apartments increased by 3.4% versus Q1 and for courtyard houses by 1.6%.

According to statistical data, the cost of apartments in the central districts of Tbilisi, such as Mtatsminda, Vake, averages 4,400 – 5,100 lari (2,900 - 3,360 manats) per sq m, and in nearby areas - 2,700 -2,900 (1,780- 1,910 manats).

There is a sharp increase in prices in the rental housing market (in some cases more than 2-fold).