Completed building space in Tbilisi fell almost 20 per cent in the first half — in Adjara it rose 72 per cent

Georgia brought 1,459 facilities into use in the first half of 2026, down 5.3 per cent from 1,540 a year earlier, with a total of about 1.54 million square metres against 1.60 million. At national level that is a mild contraction. Underneath it, two regions moved in opposite directions. Tbilisi commissioned 466 facilities and 763,719 square metres, down 19.9 per cent from 954,029. Adjara commissioned 50 facilities and 368,970 square metres, up from 214,535 — a rise of about 72 per cent. Behind those two came Mtskheta-Mtianeti with 97,951 square metres, Kvemo Kartli with 80,117 and Kakheti with 53,441.

Residential was the only segment that grew. 925 residential buildings were commissioned, totalling 1,094,034 square metres, about 70.7 per cent of all completed area and up 1 per cent year on year. Hotels went the other way: 20 hotels and 147,294 square metres, down 8.7 per cent. Industrial and warehouse space fell 22.5 per cent to 128,256 square metres across 135 facilities, and retail fell 21.9 per cent to 58,207 square metres across 144. So the construction sector did not slow evenly — housing is roughly where it was, while commercial and logistics delivery pulled back sharply.

Commissioned area is the measure of supply that has already arrived — these are buildings handed over, not permits or plans. A Tbilisi owner reading a 19.9 per cent drop is reading a year in which fewer new competing units reached the market in the capital. An Adjara owner reading a 72 per cent rise is reading the opposite: more finished stock arriving at once, in a market where a large share of buyers are non-resident and a large share of units go into short-stay letting. Supply arriving in a block tends to show up first in rents and in void periods rather than in the headline sale price.

Completions and permits tell you about different years. What is commissioned today was permitted two to four years ago, so a fall in Tbilisi completions reflects decisions taken well before 2026. Permits issued now are the signal for 2028 and 2029. If you are judging whether to sell, rent or hold, it is worth reading the two series side by side on Geostat's own release rather than from either number alone — a quiet year for completions in your district says nothing about whether a wave of permits is already approved behind it.