Apartment sales in Tbilisi and Batumi reached $4.3 billion in 2025 — and Batumi's market value grew 34 percent against Tbilisi's 15

Colliers Georgia counted apartment sales worth about 4.3 billion dollars across Tbilisi and Batumi in 2025, spread over more than 59,000 units, with transactions up seven percent on the year before. Tbilisi carried the bulk of it: 42,267 deals, three percent more than in 2024. Batumi recorded 17,052, a seventeen percent rise. A single national figure hides the fact that these are two different markets with two different buyer bases, and an owner deciding whether to sell or hold needs the city number, not the combined one.

Tbilisi's transaction count rose three percent while the value of its market rose fifteen percent, to about 3.3 billion dollars. Batumi's deal count rose seventeen percent and its market value rose thirty-four percent, passing one billion dollars. In both cities money grew several times faster than activity, which is what happens when prices and unit sizes move up rather than when more people buy. For a seller that is encouraging. For a buyer it is a reminder that the price being quoted today reflects two years of that compounding, not a market still waiting to be discovered.

The same data put Tbilisi's new projects at about 1,484 dollars per square metre and older projects at about 1,244, with Batumi's new projects at roughly 1,497. The spread between new and old in the capital is close to twenty percent. Whether that gap is worth paying depends on what the newer building actually gives you: a lift that works, parking, a managed common area, and glazing that holds heat. Where a new project offers none of those beyond the marketing, the older address at a fifth less is the better arithmetic.

Colliers' head of research has put average residential pricing across the two cities at around 1,500 dollars per square metre and said the trends it sees do not point to a fall. The reasoning is that two opposing forces cancel out: units launched in the 2022 boom are now reaching the resale market and adding supply, while banks pulled back from financing new development in 2025, which thins out what gets built later. That is a forecast about price per square metre, not about rent. Yields and prices can move in opposite directions, and in Batumi they already have.