Two credible sources put Tbilisi's rental yield at 7.5% and at 8.4%. Here is why both can be right

Global Property Guide reports an average gross yield across Georgia of 7.42% as of February 2026, down slightly from 7.53% a year earlier, with Tbilisi at 7.53% and Batumi at 7.31%. A separate market review published in August quotes Galt & Taggart putting Tbilisi's gross rental yield at 8.4% in May 2026, and describes that as in line with its long-term average. Three months apart, same city, roughly a point of difference.

A gross yield is annual rent divided by price, so every disagreement comes from one of those two inputs. Different sources sample different districts, different flat sizes and different finish levels; some use asking rents and asking prices, others use achieved figures; some include furnished short-let stock, which rents higher and costs more to run. Measurement dates matter too, because rents in Tbilisi move with the tourist season while prices do not. None of that makes either number dishonest. It does mean you cannot carry a published yield into your own spreadsheet as if it were your flat's yield.

Run it on a round number. On a 100,000 dollar flat, 7.5% gross is 7,500 dollars of rent a year and 8.4% is 8,400 dollars: a difference of 900 dollars annually before a single cost. Over the five years most buyers hold, that is 4,500 dollars, which is the same order as the agent fee on the way out. And this is gross, before management, vacancy, repairs, utilities during voids, and the 5% tax on residential rental income for individuals who claim no deductions. The honest way to use published yields is as a sanity check on your own calculation, not as a substitute for it.

Transaction volumes are healthy and prices are rising slowly. Global Property Guide reports 78,500 apartments sold across Georgia in 2025, up 5.94% on the year, with 42,388 of them in Tbilisi, up 4.31%. It also records the second quarter of 2026 price index at 4.97% higher in nominal terms but 0.81% lower in real terms, which is the detail worth keeping: with inflation where it has been this year, a nominal gain of under 5% is roughly flat in purchasing power. Yields, not capital growth, are carrying the case for buying here at the moment.