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.

Starting in June, sale prices for residential property began to drop and stayed below the long-term trend. Rental prices have also declined in annual terms (-2.4%, compared to September 2013). The rental decline is not surprising, and is due mostly to the pronounced seasonal pattern in Tbilisi rental market prices. Typically rents slump in the summer as students start leaving the city and increase in September when students come back for the new academic year. (see Chart 1) Download the full report

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

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