Relocation.com.ua has prepared an analysis of the Georgian residential real estate market in the first half of 2025: prices are rising, demand is leveling off, and rents are cooling down.
In June, 3,236 apartment deals were registered in Tbilisi, which is +11% y/y (−2% m/m) — the first noticeable rebound after the sluggish spring months, according to TBC Capital. The average asking price in the city is $1,266/m² (+6% y/y), and the average rental rate is $10.6/m² (−12% y/y).
In Tbilisi, 15,865 deals worth $1.2 billion (+2.6% y/y) were registered in the first five months of 2025, with the average price on the primary market in May at $1,331/m² and rent at $9.3/m².
As for Batumi, 7,129 transactions were registered in Batumi in the first half of 2025 (+4.8% y/y), with a total market volume of $397 million (+16.1% y/y). Weighted average prices: new buildings $1,184/m² (+16.1%), secondary market $1,169/m² (+20%).
According to Galt & Taggart’s assessment, sales growth continued in the second quarter in both the primary and secondary markets; rental rates in June were +1.6% y/y, and yields remain high compared to “pyramids.”
Earlier it was reported that the average gross rental yield in Batumi remains at around 8.8% (end of winter 2025).
Prices across the country: double-digit growth in annual terms
According to the Geostat housing price index, in Q1 2025, housing prices in Georgia were +11.53% y/y (in real terms, adjusted for inflation — +7.78%).
Against the backdrop of the high base of previous years, the issuance of permits in Tbilisi in 5M25 declined moderately (by area −1.1% y/y), and in May, 25 permits were issued for ≈203 thousand m² (−18.3% y/y). This is holding back supply growth and supporting prices in the primary segment.
After peaking in 2022–2023, rents in Tbilisi stabilized and fell to $9.3–10.6/m² in May, depending on the source and observation period. Gross yields in Tbilisi remain around ~8–11%, which is comparable to yields in resort locations.
Foreign buyers: activity continues, with Israelis playing a notable role
Government agencies do not usually publish official monthly breakdowns by nationality. However, a Galt & Taggart survey of systemic developers (covering ≈45% of the primary market in Tbilisi) found that buyers from Israel accounted for 11% of all sales in 5M25. Demand from local and “regional” buyers (Russia, Ukraine, Middle Eastern countries) is also significant, but the shares vary from project to project.
Analysts expect moderate, “healthy” growth while maintaining attractive returns in resort locations (Batumi) and a gradual recovery in demand in the capital as rates and incomes stabilize. External demand will remain selective (investment apartments and lots for short-term rent).
On Friday, the multinational military exercise Agile Spirit began in Georgia, which is being held for the twelfth time. The exercise is being held at the Krtsanisi base, where the NATO-Georgia Joint Training and Evaluation Center is located.
The Agile Spirit 2025 exercise is being held in two countries – Georgia and Turkey – to help strengthen regional cooperation, according to the Georgian Ministry of Defense.
The exercises began in Turkey on July 21 with a joint airborne operation by the United States and Turkey. In addition to the military of Turkey, the United States, and Georgia, the military of eight other countries will take part in the exercises that opened in Georgia.
At the opening ceremony, General Terry Tillis, commander of the 7th U.S. Army Training Command in Europe and Africa, said that “this is a strategic exercise that allows for increased interoperability between military personnel from different countries.”
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The Georgian government is discussing a package of amendments to the Criminal Code and the Administrative Code aimed at tightening immigration policy. The goal is to strengthen the fight against illegal migration and prevent abuse of the asylum system.
Main amendments:
Deportation statistics:
How many foreigners are there in Georgia?
According to Geostat data for 2024, 135,811 people entered the country, including:
In addition, up to 100,000 Russians were in Georgia at the peak of the migration flow, of whom 60,000 remained and 30,000 left the country in 2023. According to estimates by the UN and migration centers, approximately 26,000 refugees live in Georgia, mainly Ukrainians, but also Syrians, Iraqis, Iranians, and Russians.
Georgia is tightening migration controls, introducing deportation with long-term bans, increasing fines, and speeding up the processing of applications. This is part of efforts to combat illegal migration and abuse of the asylum procedure.
However, the visa waiver remains in place and requirements for stays of up to one year are being simplified. Tens of thousands of foreigners, mainly from Russia and Ukraine, reside in the country, making the reforms both sensitive and controversial. The changes to migration legislation will have long-term consequences for both new arrivals and Georgia’s migration practices.
Ukraine has resumed ferry service with Georgia, operating two sailings from the Chornomorsk port to the Georgian port of Batumi for the first time since the start of the full-scale invasion.
“Two flights were made on March 18 and 26 from the port of Chornomorsk to the port of Batumi, and the third flight is planned for next week,” said Tymofiy Murakhovsky, Director of Commercial and Logistics at Ukrzaliznytsia JSC, at a meeting on the Restoration of the Ukraine-Georgia Ferry Service within the TTM Corridor.
According to him, the project is being implemented with the participation of the shipping company Ukrferry (Odesa) and UZ Cargo Poland, a subsidiary of Ukrzaliznytsia, in Warsaw. According to Murakhovsky, the first voyages in March were carried out in a mode of information silence. He urged businesses to become more actively involved in the direction. As you know, since the beginning of Russia’s full-scale aggression in February 2022, there has been no maritime traffic between Ukraine and Georgia.
The shipping company Ukrferry announced the resumption of the Chornomorsk-Batumi ferry service on July 9, 2024, but this did not happen.
Ukraine defeated Georgia 1-0 and secured their first win in the Nations League soccer draw, Suspilnoe Sport reported on Friday night.
Despite the first victory, Ukraine continues to go in last place in the Nations League group, behind Albania in head-to-head meetings: 1. Georgia – 6 points (3 matches), 5:2 (goal difference); 2. Czech Republic – 6 points (3), 6:6; 3. Albania – 3 (3), 2:4; 4. Ukraine – 3 (3), 4:5.
It is reported that the next match Ukraine will play against the Czech Republic on Monday, October 14.
Active Group and Experts Club have conducted a joint study on the attitudes of Ukrainians towards the countries of East Asia and the Middle East. The research was presented at the Interfax-Ukraine news agency in June 2024. The research was presented by Maksym Urakin and Oleksandr Poznyi. The results of the study are as follows:
The results of the survey are as follows:
Completely positive – 15.3%.
Mostly positive – 46.9 %.
Mostly negative – 13.6
Completely negative – 3.6
Difficult to answer – 20.6%.
Positive – Negative – 45.0%.
On April 5, 1994, the Embassy of Ukraine in Georgia began its work, and on August 19, 1994, the Embassy of Georgia in Ukraine.
The joint research by Active Group and Experts Club on the attitudes of Ukrainians towards the countries of East Asia and the Middle East was conducted in April-May 2024. It covers such countries as Turkey, Iran, Israel, Egypt, Jordan, Saudi Arabia, UAE, Afghanistan, Pakistan, Azerbaijan, Uzbekistan, Turkmenistan, Kyrgyzstan, Tajikistan, Kazakhstan, Georgia, Armenia, India, China, Republic of Korea, DPRK, Japan, Vietnam, Indonesia, Syria, and Iraq. Full information on the research is available on the website of the Club of Experts at
