BAKU, Azerbaijan, July 31
By Tamilla Mammadova – Trend:
The Residential Property Price Index (RPPI) in Georgia decreased by 0.4 percent in the second quarter of 2021 t compared to the previous quarter, while the annual increase amounted to 10.1 percent, Trend reports via the Policy and Management Consulting Group (PMCG).
The RPPI covers the market of new residential property in Tbilisi, both flats and detached houses segments.
Compared to the 2020 average, the index change amounted to 8.9 percent.
In the second quarter of 2021 a price decrease compared to the previous quarter was registered in flats segment (-1.3 percent). In the same period, the prices increased for detached houses (2.2 percent). Compared to the second quarter of 2020, the prices increased in both segments, for detached houses by 17.9 percent and for flats by 7.5 percent.
The following graph represents the dynamics of the total RPPI and its sub-indices, as well as the Consumer Price Index.
The RPPI measures the price evolution for residential properties. The index covers only the market of new dwellings for both, multi-dwelling buildings (flats) and detached houses in Tbilisi.
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