Georgia’s residential real estate market ended the summer of 2026 with rising sales and prices in Tbilisi and continued exceptionally high activity among foreign investors in Batumi, where foreigners accounted for more than half of all residential property transactions in August.
According to data from the Recov analytics platform, developed by Colliers Georgia, 3,388 apartment transactions were registered in Tbilisi in August 2026, an increase of 18.9% compared to the same month last year.
The market’s total transaction value grew even faster—by 35.2%, to $297 million.
New projects were the main driver of growth. The number of apartment transactions in new developments increased by 23.7%, including a 22.9% rise in the primary market and a 24.5% rise in the secondary market for new properties. Sales of apartments in the existing housing stock rose by 3.8%.
Colliers attributes a significant portion of the growth in new-construction sales to an expansion of supply, primarily in the Samgori and Didi Digomi districts.
At the same time, prices continued to rise. In August, the weighted average price of apartments in new buildings in Tbilisi rose year-over-year by 16.7% in the city center, 16% in the extended city center, and 10.4% in the suburbs.
Citywide, prices in the primary market rose by 11.9%, and in the secondary market for new projects, by 11%.
That said, Tbilisi remains a market dominated by local buyers. Georgian citizens account for the majority of transactions involving both new and existing apartments.
However, the share of foreign buyers continues to grow. In August, it reached 14%, up from 12% in July.
A completely different demand structure has emerged in Batumi. In August, foreign citizens accounted for 52% of apartment transactions, exceeding the share of Georgian buyers for the first time during the period under review. Back in July, the share of foreign buyers stood at 48%.
In total, 1,235 transactions were concluded in Batumi in August, which is 4.3% less than a year earlier. However, the market’s total value increased by 2.9% to $81 million.
The weighted average price of apartments in new buildings in Batumi rose by 1.2% year-over-year—to $1,386 per square meter.
Thus, Georgia’s two largest real estate markets are currently developing along different trajectories. In Tbilisi, domestic buyers drive the main demand, while Batumi has effectively become an international real estate investment market.
Among the most active foreign buyers of real estate in Georgia—particularly in Batumi—are citizens of Israel, Russia, Ukraine, EU countries, Turkey, and other post-Soviet states.
Recent detailed studies of the buyer demographic confirm a significant presence of Ukrainians.
According to data from Galt & Taggart for the first quarter of 2026, foreigners accounted for about 63% of apartment sales in the surveyed projects in Batumi, while Georgian citizens accounted for 37%.
The largest group consisted of buyers from European countries—about 18% of all sales. Israeli citizens accounted for a significant share. Buyers from Ukraine, Russia, and Belarus also formed one of the largest groups of foreign investors.
However, the published statistics combine citizens of Ukraine, Russia, and Belarus into a single category, so it is impossible to determine the exact number or share of purchases made directly by Ukrainians based on this data.
Earlier data from Colliers also lists Russians, Ukrainians, and Israelis among the main foreign buyers of residential property in Batumi.
