Prices up, rents down: reading Georgia's 2026 housing numbers

Global Property Guide puts Georgian house-price growth at close to 5% year on year in the second quarter of 2026. Strip inflation out and the same figure turns slightly negative. In other words the market is still moving, but nominal gains are being eaten by the cost of everything else — a very different picture from the double-digit run of a few years ago.

Within Tbilisi the averages hide a wide gap. Mtatsminda led with annual appreciation above 12%, while Saburtalo — a far bigger and more ordinary market — managed barely a third of that. Batumi's primary market averaged about USD 1,865 per square metre, up roughly 9% over the year, with supply now the thing to watch there. Anyone pricing a flat off a national average is pricing the wrong flat.

Gross rental yields averaged 7.42% in February 2026, a shade below the previous year. That is because rents, not prices, did the adjusting: Tbilisi asking rents fell around 11% over the course of 2025 and gave up several more percent year on year into early 2026. A yield near seven and a half percent is still respectable by European standards, but it is now being produced by cheaper rent rather than by a bargain purchase price.

Georgia recorded about 78,500 apartment sales in 2025, up nearly 6% on the year. Tbilisi took 42,388 of them and roughly three quarters of those buyers were domestic. Batumi was the faster-growing market — 17,478 sales, up 15% — and there rather more than half the buyers came from abroad. The practical reading for an owner: in Tbilisi you are selling to a Georgian family, in Batumi to a foreign buyer, and those two audiences want different things from the same square metre.