Real Estate Market Trends in Georgia in the second quarter of 2023

According to Geostat, in the second quarter of 2023, the residential real estate price index (RPPI) increased by 3.0 percent compared to the previous quarter, while the annual growth of the index was 13.1 percent.

In the second quarter of 2023, compared to the previous quarter, prices were recorded both in the segment of residential apartments - by 3.4%, and in the segment of private houses - by 1.6%.

Compared to the second quarter of 2022, price growth was recorded in both segments - for apartments by 10.6 percent and for private houses by 16.2 percent.

As for real estate in Kobuleti, based on the statements of the heads of large development groups investing hundreds of millions of dollars in the development of the coast, the price increase for apartments will be at the level of 80% - 100% over the next 3 years.