Georgia or Turkey? Turkey wins on yield, Georgia wins by a mile on the cost of borrowing

Numbeo's country comparison, last updated in September 2026, puts the gross rental yield for city-centre flats at 7.30% in Turkey against 6.40% in Georgia, and outside city centres at 8.04% against 7.05%. Put another way, a centrally located flat costs about 13.7 years of rent in Turkey and 15.6 years in Georgia. These are national averages built from user submissions rather than official statistics, and they are gross figures before tax, vacancies and management, so they are best used for comparison rather than as a forecast for any particular flat.

The same dataset puts the typical 20-year fixed mortgage rate at 41.84% in Turkey and 12.47% in Georgia. That gap shapes who can buy. At rates above 40%, mortgage-financed demand in Turkey is necessarily limited; in Georgia, the National Bank's policy rate has been held at 8.25% since May while inflation runs around 5.6%. For a foreign buyer paying cash, the rate gap matters less directly, but it affects the pool of local buyers you would one day sell to.

On Numbeo's price-to-income ratio, Georgia looks far more stretched: 12.81 against 6.59 in Turkey, meaning a typical flat costs roughly twice as many years of local income. That is a reason for caution about assuming Georgian prices can keep rising faster than wages, and part of why rents, not prices, are where investors should look first. Numbeo's purchase-price figures for the two countries come out almost identical once converted to the same currency, so the choice is less about entry cost than about yield, financing and the exit market.