In September, sale prices for residential properties in Tbilisi declined significantly compared to the previous year (-8.6 %). In terms of area, Old Tbilisi continues to lead the price index, at 1,143 USD per m2 in September.

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.

One thing few visitors to Tbilisi fail to notice is the rich and layered architectural heritage of the city. There are medieval churches in Old Tbilisi. There are art nouveau buildings in Sololaki.