Batumi sold 15% more flats in 2025, Tbilisi 4.3% more — and the building pipeline got fewer projects but bigger ones

Nationwide, 78,500 apartments changed hands in 2025. Tbilisi is the bulk of it at 42,388 and grew 4.31%. Batumi, at 17,478, grew 15.02%. Growth rates on different bases are easy to over-read — it takes far fewer extra sales to move Batumi's percentage than Tbilisi's — but a gap of that size over a full year is a real divergence in demand, not a rounding artefact. Anyone treating "the Georgian market" as a single thing is averaging two markets that moved at very different speeds.

Residential completions in 2025 numbered 2,112 projects, down 5.38%, yet totalled 2.468 million square metres, up 1.65%. Permits tell the same story: 8,167 projects, down 3.23%, covering 8.816 million square metres, up 0.90%. The count is shrinking while the volume grows, which means the average project is getting larger. For a buyer that changes the kind of building coming to market — more large blocks, fewer small infill developments — and it concentrates more of the supply with fewer, bigger developers.

Batumi's sales growth sits alongside a coastal market that is heavily seasonal and heavily weighted towards short-letting, where the income depends on visitor flows that fell nationally in the first half of this year. Tbilisi's slower growth sits on a year-round rental base. Transaction volume measures how many people bought, not how well those purchases are performing afterwards — and the two are not the same question. Ask what the flats bought in Batumi in 2025 are earning now before reading a 15% sales increase as a verdict on the city.