Prices rose 4.97% in name and fell 0.81% in real terms
Global Property Guide's Georgia page reports a nationwide nominal house price change of +4.97% year on year for the second quarter of 2026 and, adjusted for inflation, a real change of -0.81%. The average sits at EUR 1,733 per square metre. The same page puts the national gross rental yield at 7.42% as of February 2026, down slightly from 7.53% a year earlier, with Tbilisi at 7.53% and Batumi at 7.31%. Read together these say something specific about where a Georgian return is coming from.
What the gap between the two numbers is
The nominal figure is the price change as it appears in lari or euro terms. The real figure takes inflation out, so it answers a different question: did the property hold its purchasing power? At +4.97% nominal and -0.81% real, the answer for Georgian housing in the second quarter of 2026 was very nearly no. The property kept pace with prices in the shops and lost a fraction of a percent against them. That is not a collapse; it is a flat year dressed up as a rising one by inflation.
Why this favours the landlord over the speculator
If capital growth is flat in real terms, almost the whole return has to come from rent. At a national gross yield of 7.42%, the rent is substantial, and in Tbilisi at 7.53% slightly better than the national figure. But gross means gross: before vacancy, management, repairs, furnishing, the annual property tax, and the income tax on the rent. Someone buying to hold and let can live comfortably with flat real prices. Someone buying expecting to resell at a gain in two or three years is relying on something these numbers do not show.
Where the averages hide the differences
EUR 1,733 per square metre is a national average across every type of housing in every region, which means almost nobody is buying at it. The same page records a Tbilisi new-build index rising 3.27% year on year with apartments at 3.47% and detached houses at 2.55%, and separately a Batumi primary market average of USD 1,865 per square metre in 2025, up 9.4% year on year on Galt and Taggart figures. Batumi and Tbilisi are moving at different speeds, and the national average is the one number that describes neither.
What to check before you accept any of these figures
The page's own small print matters. The headline yield is dated February 2026, the price change is second quarter 2026, and the detailed breakdown in the body covers the fourth quarter of 2025, so three different periods sit on one page. The page says it was last updated in May 2026 with the next update due a year later. If you are using these numbers in a purchase decision, go to the National Statistics Office of Georgia for the current quarter rather than relying on an annual summary that may now be several quarters behind.
Written by us from the source linked above, not investment, legal or tax advice. Figures and rules change — confirm anything that matters before acting on it.
