The average price of residential real estate in Tbilisi reached $1,403 per square meter in March 2026, up approximately $73 year-over-year and $132 compared to 2024.
Average rental rates stand at around $9.9 per square meter, with Vake and Mtatsminda remaining the most expensive districts.
Investment firm Galt & Taggart released its latest report, “Tbilisi Residential Real Estate – March 2026,” outlining key market trends.
Transactions and Market Size
In Q1 2026, a total of 10,907 transactions were recorded in Tbilisi, with the total market value reaching $958 million, marking a 23.1% year-over-year increase.
Sales and Market Dynamics
In March 2026, 4,121 apartments were sold, compared to 2,992 in March 2024 and 3,139 in March 2025.
• Secondary market sales rose 26.9% year-over-year to 2,068 units (Q1: +15.1% y/y)
• Primary market sales increased 36.0% to 2,053 units (Q1: +16.6% y/y)
According to the report, demand in the primary market slowed on a monthly basis in March 2026, but still recorded 8.6% annual growth. Overall, demand grew 16.9% year-over-year in Q1, largely reflecting a low base effect from the previous year amid domestic political instability.
Price Trends
Price growth in the primary market slowed in March, increasing 0.4% month-over-month to $1,403 per square meter.
Meanwhile, prices for newer secondary market properties (built after 2013) rose slightly by 0.1%, reaching $1,305 per square meter.
For comparison, the average price stood at $1,271 in March 2024 and $1,330 in March 2025.
Rental Market
In March 2026, the average rent for a mid-sized apartment (50–60 sq.m) stood at $9.9 per square meter, with rental yields at 8.5%.
Rental prices have remained relatively stable in recent years:
• March 2024: $9.9/m²
• March 2025: $9.5/m²
• March 2026: $9.9/m²
Across regional capitals, rental yields were as follows: Ankara – 9.6%, Astana – 8.7%, Tbilisi – 8.5%, Tashkent – 8.3%, Yerevan – 7.1%, Baku – 5.4%, Chisinau – 5.4%, Riga – 4.3%, Sofia – 4.2%, Bucharest – 4.2%, Vilnius – 3.9%, Tallinn – 3.6%.
Distribution by District
Apartment sales in March 2026 were concentrated in the following districts:
Saburtalo – 899 units, Didi Dighomi – 812, Samgori – 541, Gldani – 396, Krtsanisi – 332, Isani – 310, Didube – 272, Nadzaladevi – 239, Chughureti – 97, Vake – 95, Mtatsminda – 78, and Vashlijvari – 50.
Average prices per square meter by district were:
Vake – $2,933, Mtatsminda – $2,883, Chughureti – $2,200, Krtsanisi – $1,678, Saburtalo – $1,658, Didube – $1,441, Isani – $1,399, Nadzaladevi – $1,205, Didi Dighomi – $1,142, Gldani – $1,117, Samgori – $1,109, Vashlijvari – $1,029.
Average rental rates by district:
Vake – $14.3/m², Mtatsminda – $12.3, Saburtalo – $11.5, Krtsanisi – $10.6, Chughureti – $9.9, Isani – $9.8, Didube – $9.7, Nadzaladevi – $9.3, Vashlijvari – $8.8, Didi Dighomi – $8.6, Gldani – $8.4, Samgori – $8.2.
Buyers by citizenship
In Q1 2026, Georgian citizens accounted for approximately 70% of purchases, followed by Israeli buyers at 12%, Russian buyers at 3%, and other nationalities at around 14%.
The share of Georgian buyers has been gradually declining:
• 2023: ~85%
• 2024: ~80%
• 2025: ~76%
Source: Galt & Taggart
Author: Lika Kasradze
If you are considering investing in real estate in Georgia, Kedaro Group is ready to provide you with professional guidance.
Contact us:
– Email: kedarogroup@gmail.com
– Phone: +995 593 618 181
– Address: 18/22 G. Atoneli Street, 0105 Tbilisi, Georgia
