Studios yield 8.46% in Tbilisi; two-bedrooms only 6.95%
A survey of gross rental yields published for the first quarter of 2026 puts the Georgian average at 7.42%, down from 7.90% in the third quarter of 2025. Tbilisi averages 7.53% and Batumi 7.31%, but the averages hide a clear curve by unit size: in Tbilisi a studio at about EUR 44,700 renting for EUR 315 a month returns 8.46%, while a two-bedroom at EUR 101,800 renting for EUR 590 returns 6.95%. Net yields are typically 1.5 to 2 points below gross.
The curve by unit size
In Tbilisi the survey gives a studio at about EUR 44,700 with EUR 315 of monthly rent, a yield of 8.46%; a one-bedroom at EUR 70,300 and EUR 465, 7.94%; a two-bedroom at EUR 101,800 and EUR 590, 6.95%; a three-bedroom at EUR 144,000 and EUR 850, 7.08%; and four bedrooms or more at EUR 211,700 and EUR 1,270, 7.20%. The dip in the middle is the striking part: rent does not rise as fast as price between a one-bedroom and a two-bedroom.
Batumi has the same shape, one notch lower
Batumi's average is 7.31%. A studio there is given at EUR 44,100 with EUR 295 of rent, a yield of 8.03%; a one-bedroom at EUR 65,200 and EUR 420, 7.73%; a two-bedroom at EUR 97,300 and EUR 510, 6.29%; a three-bedroom at EUR 127,000 and EUR 760, 7.18%. The same mid-range weakness appears, and it is deeper: the two-bedroom gap between the two cities is more than half a percentage point.
Gross is not what you keep
The survey itself notes that net yields usually run 1.5 to 2 percentage points below gross. On a Tbilisi studio that turns 8.46% into something closer to six and a half, and on a Batumi two-bedroom it turns 6.29% into roughly four and a half. The direction also matters: the national average has slipped from 7.90% in the third quarter of 2025 to 7.42%, which is what happens when prices rise faster than rents.
What a table of averages cannot price
These are city-wide averages by unit type, not a valuation of any particular building. They carry no allowance for vacancy, for the months a Batumi flat sits empty out of season, for management and furnishing, or for the difference between a sea-view floor and the one below it. Treat the curve as a question to put to a specific property — why would this two-bedroom beat a studio? — rather than as a forecast of what it will pay.
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.
