Georgia Property Market Report: Prices, Transactions and Yields

Georgian residential prices have kept rising through 2026, but the two main markets are moving at different speeds. Tbilisi averages around USD 1,312 per square metre after roughly 4% annual growth, while Batumi sits near USD 1,395 with a much sharper rise behind it. Gross yields nationally run around 7.4%. Transaction volumes are at record levels in Batumi, where foreign buyers account for roughly half of all apartment deals.

Where are prices?

Where are prices?

Market	Average price per m2	Annual change
Tbilisi	Around USD 1,312	About +4%
Batumi (overall)	Around USD 1,395	Sharply higher year on year
Batumi, turnkey / primary	Around USD 1,893 (Q1 2026)	About +8.7%
Batumi, secondary market	Around USD 1,479 (Q1 2026)	About +7.8%
Old Batumi (premium submarket)	Around USD 3,028	Most expensive submarket

The turnkey-versus-secondary gap in Batumi is not a quality judgement — it is largely the finishing level. A primary-market price usually includes work a secondary-market price does not. See black frame and white frame before comparing the two numbers.

How much is actually trading?

Volume matters more than asking prices, because asking prices are opinions and transactions are facts. Batumi recorded 4,049 apartment sales in Q1 2026 according to the Public Registry, up around 15.8% year on year. Galt & Taggart counted a record 17,478 apartment transactions across 2025, with foreign buyers behind roughly 52% of them.

That last figure is the one to sit with. In Batumi, this is not a market where foreign buyers are a marginal presence — they are the majority of it, which cuts both ways for anyone relying on it for resale.

What are yields?

Gross rental yields across Georgia stood at roughly 7.4% in Q1 2026, with Tbilisi near 7.5% and Batumi near 7.3%. These are gross figures: rent divided by price, before management, bills, the 5% rental income tax and vacancy. The net number is materially lower, and our breakdown of running costs shows by how much.

Market averages do not buy apartments. Kavlian's vetted agents can tell you what a specific building achieved last year, which is a different and more useful number. Asking is free.

What changed in the rules?

• 1 March 2026: the property-based residence permit threshold rose from USD 100,000 to USD 150,000 in appraised holdings — a 50% increase. The threshold still applies to total registered holdings rather than a single purchase.
• 1 January 2026: all tourists entering Georgia must hold health and accident insurance with minimum coverage of 30,000 GEL, roughly USD 11,000.

The residence permit change is the more consequential of the two for buyers, because a purchase budgeted at the old threshold no longer qualifies.

What to expect next

Galt & Taggart expects Tbilisi demand to stay broadly in line with 2025, supported by urbanisation, shrinking household size and yields that remain attractive by regional standards. In Batumi, primary sales are projected to be broadly flat while secondary transactions continue to rise, as the growing stock of completed apartments deepens the resale market. Colliers has said it expects no price decrease across Tbilisi and Batumi in 2026.

Two things are worth holding lightly. Forecasts are forecasts. And a market where completed stock is growing is a market where sellers compete with developers — which is good news for a buyer and less good for an owner planning an exit.

Figures are drawn from published market data at the time of writing and are rounded. Markets move; check current data before making a decision, and treat any single source, including this page, as one input among several.

FAQ

Is Georgian property still cheap?

Relative to most of Europe, entry prices remain low and yields high. Relative to its own recent past, Georgia is meaningfully more expensive than it was three years ago.

Which market is growing faster?

Batumi has shown the steeper price growth and the higher transaction growth. It is also the more seasonal and more foreign-buyer-dependent of the two.

Do these averages apply to a specific apartment?

No. District, building, floor and finishing level move a price far more than the city average does.

How often is this report updated?

Each quarter, as new registry and market data is published.

Turn the market into a decision

Kavlian matches buyers with vetted Georgian specialists who work these markets daily, at no cost. Talk to a specialist or browse current listings.