# Input pack — Tbilisi Residential Monitor, Q3 2026, gathered 24 October 2026

Gathered following Part 1 of `../02-real-estate-monitor.md`. Every figure below
was fetched in this run; nothing is carried over from the 21 September pack.

## 1. Price index — Geostat RPPI (quarterly)
Source: Geostat PX-Web, `Price Statistics/Residential Property Price Index/`,
tables `RPPI_2020_average=100.px`, `RPPI_previous_quarter=100.px` and
`RPPI_same_quarter_of_previous_year_=_100.px`, queried 2026-10-24. Underlying
release: "Residential Property Price Index — III quarter of 2026", published
23.10.2026.

Scope, from the release: the RPPI covers the market of **new residential
property in Tbilisi**, flats and detached houses, and is **based on prices in
the national currency (GEL)**.

| Series, level (2020 average = 100) | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | Q3 2026 |
|---|---|---|---|---|---|
| Total | 157.0 | 159.4 | 162.3 | 163.8 | **166.2** |
| Flats | 154.5 | 156.6 | 159.8 | 161.2 | **163.1** |
| Detached houses | 161.4 | 164.8 | 166.6 | 168.2 | **172.7** |

| Q3 2026 change | QoQ | YoY |
|---|---|---|
| Total | +1.5% | +5.9% |
| Flats | +1.2% | +5.6% |
| Detached houses | +2.7% | +7.0% |

YoY by quarter, for the acceleration read:

| YoY | Q1 2026 | Q2 2026 | Q3 2026 |
|---|---|---|---|
| Total | +3.0% | +4.9% | +5.9% |
| Flats | +3.3% | +4.8% | +5.6% |
| Detached houses | +1.8% | +5.5% | +7.0% |

- Cross-checks run in this run: QoQ and YoY from the dedicated tables agree
  with the ratios of the levels (163.1/161.2 = +1.2%; 163.1/154.5 = +5.6%;
  166.2/163.8 = +1.5%; 166.2/157.0 = +5.9%; 172.7/168.2 = +2.7%;
  172.7/161.4 = +7.0%).
- Cross-checked against the PDF release (geostat.ge/media/83637), which states
  Total +1.5% QoQ, +5.9% YoY, 66.2% above the 2020 average; Flats +1.2%,
  +5.6%, 63.1%; Detached houses +2.7%, +7.0%, 72.7%. API and PDF agree on all
  nine figures.
- PX-Web gotcha found this run: a table-level GET or POST **needs a trailing
  slash** after `<table>.px`, or IIS answers "404 — File or directory not
  found" at any depth. The folder listing's `updated` field still read
  2026-07-14 while Q3 data was already in the table, so it is not a usable
  freshness marker — the release date has to come from the release.

## 2. Transactions — NAPR statistics API (annual, current year to date)
Source: `GET https://napr.gov.ge/api/statistic/landreg`, key
`chartSatisfyRegistration`, queried 2026-10-24. Purchase = LABEL
"ნასყიდობა"; first registration of flat/unit = LABEL "პირველადი
რეგისტრაცია ბინა/ერთეულზე". Zone 0 = Georgia, zone 1 = Tbilisi.

As-of marker: every 2026 row carries `PROCCED_DATE` = **2026-10-22**, with
`CREATE_DATE` 2026-10-24 05:01 UTC. Unlike the September run, the field is a
usable as-of date this time.

| Registered purchases | 2023 | 2024 | 2025 | 2026, to 22 Oct |
|---|---|---|---|---|
| Georgia | 160,541 | 157,046 | 164,403 | 140,932 |
| Tbilisi | 68,432 | 68,486 | 70,039 | 62,670 |

| First registrations of flats/units | 2023 | 2024 | 2025 | 2026, to 22 Oct |
|---|---|---|---|---|
| Georgia | 48,047 | 77,186 | 68,231 | 62,339 |
| Tbilisi | 27,733 | 48,939 | 43,928 | 39,388 |

- 2025 YoY: Georgia purchases +4.7% (164,403/157,046), Tbilisi +2.3%
  (70,039/68,486).
- YTD as a share of the 2025 full-year total (a ratio of two figures above,
  not an annualised estimate): Tbilisi purchases 89.5%, Georgia 85.7%,
  Tbilisi flat first-registrations 89.7%.
- Monthly counts are not on the public page. The API accepts no parameters.
- The endpoint refused a bare request (HTTP 403, "Access Denied" with a
  reference id) and answered normally to an ordinary browser `User-Agent`,
  `Accept` and `Referer` — read as a browser reads it, nothing bypassed.

## 3. Asking prices — NOT GATHERED
`scripts/ssge_prices.py` reads `home.ss.ge`. In this run that host is behind a
Cloudflare managed challenge: `https://home.ss.ge/robots.txt` answers HTTP 403
with a "Just a moment…" interstitial, and so does the flats listing path the
script reads. The robots file could therefore not even be re-read, and the
listing pages cannot be reached without working around the challenge.

Under the project's hard rule (`publishing-plan.md`) bot protection is never
circumvented, so this block is **NOT GATHERED — listing site now behind a
bot-protection challenge; not read**. Consequences for the monitor: no
district table, no city-wide asking medians, and no gross rental yield, since
the yield is derived from the two asking series.

`ss.ge/robots.txt` itself still returns 200 and still disallows only
`/images`, `/user/*` and the `/en/` and `/ru/` listing sections; the block is
not a rules change on that file but a challenge on the `home.ss.ge` host.

## 4. Construction permits — Geostat
Source: Geostat, "Permissions granted for construction by regions (Declared
data)", `geostat.ge/media/81802/0503EN020101_Permissions.xls`, downloaded
2026-10-24. HTTP `last-modified` 30 July 2026; in-sheet note "Last update:
30.07.2026". Latest column is **2026 January–June** — the workbook has not
been refreshed since the September run, so there is no Q3 or Jan–Sep figure.

| Permits granted | 2024 | 2025 | Jan–Jun 2026 |
|---|---|---|---|
| Georgia, number | 12,080 | 11,578 | 5,391 |
| Georgia, floor space m² | 12,040,430 | 11,397,190 | 5,275,707 |
| Tbilisi, number | 5,648 | 5,345 | 2,653 |
| Tbilisi, floor space m² | 6,773,742 | 6,423,329 | 3,135,160 |

- 2025 YoY: Georgia count −4.2%, area −5.3%; Tbilisi count −5.4%, area −5.2%.
- Tbilisi share, Jan–Jun 2026: 49.2% of permits, 59.4% of floor space.
  Tbilisi share, full-year 2025: 46.2% and 56.4%.
- The workbook holds full years plus the current part-year only, so there is
  no Jan–Jun 2025 comparator and no YoY for Jan–Jun 2026.

## 5. Comparator — deliberately not gathered
The prompt's optional block 5 (a bank publication teaser) was skipped: this
routine never quotes or paraphrases the banks' real-estate reports. They are
named only in the after-the-fact numbers comparison added to this page once
their quarterly views are public.

## Calendar (from Geostat's own release calendar, read 2026-10-24)
- RPPI Q3 2026: published 23.10.2026. The calendar shows the index on the 23rd
  of the month after each quarter (23 Jan 2026 for Q4 2025, 23 Apr for Q1
  2026, 23 Jul for Q2 2026, 23 Oct for Q3 2026); the January 2027 calendar is
  not yet published.
- Permits: "Information on Issued Permissions for Construction (I–III QQ,
  2026)" is listed for **30 October 2026** — six days after this release. The
  permits block here is the Jan–Jun 2026 workbook and will be superseded then.
- NAPR: refreshed continuously; `PROCCED_DATE` 2026-10-22 in this run,
  `CREATE_DATE` the morning of 2026-10-24.