Georgia’s residential real estate market continues to grow: in April 2026, apartment sales in Tbilisi and Batumi showed double-digit growth, and foreign buyers remain a key driver of demand, particularly on the Black Sea coast.
According to data from the Recov.ge platform, developed by Colliers Georgia, 3,603 apartment transactions were recorded in Tbilisi in April 2026, a 12.7% increase compared to the same month last year. The market’s total transaction value grew by 28.3% to reach $310 million.
Growth in the capital was recorded in both the primary and secondary markets. The number of transactions in new projects increased by 14.6% year-over-year, including a 10.7% increase in the primary market and a 20.4% increase in the secondary market for new construction. Transactions involving older apartments also rose—by 6.2%.
Prices in Tbilisi also continued to rise. In April, the weighted average price per square meter for new apartments rose by 10.2% in the suburbs, by 2.2% in the wider city center, and by 12.1% in the city center. Overall in Tbilisi, the price of primary market transactions increased by 11.2%, and in the secondary market by 11%.
At the same time, the capital’s market remains predominantly domestic. In April 2026, Georgian citizens continued to dominate among buyers in both older and new developments, while foreign buyers accounted for 10.7%.
In Batumi, the market is more dependent on foreign demand. In April 2026, 1,292 apartments were sold in the city, which is 12.3% more than a year earlier. The market’s total value grew by 27.4% to reach $85 million. For comparison, 1,165 apartments were sold in Batumi in April 2025, and 1,234 in April 2024.
The new-construction segment saw the most active growth. Sales of apartments in new projects increased by 12.3%, while transactions involving existing housing decreased by 5.4%. Growth in the primary market was 13.3%, and in the secondary market for modern projects, 11.6%.
The weighted average price per square meter in new buildings in Batumi rose by 11.3% year-over-year in April, reaching $1,351. Price growth was 15.2% in the primary market and 9.4% in the secondary market.
The main feature of Batumi remains the high share of foreign buyers. In April 2026, foreigners accounted for 47% of transactions involving both older and new apartments, as well as 90% of the total increase in the number of transactions. This means that foreign demand was the primary driver of the market’s acceleration.
According to Galt & Taggart data for the first quarter of 2026, the share of foreigners in the Batumi apartment market was even higher: Georgian citizens purchased 37% of apartments, while foreign buyers accounted for 63% of transactions. Buyers from European countries constituted the largest group, accounting for 18% of all sales. Another 16% of transactions were made by citizens of Ukraine, Russia, and Belarus. Buyers from Israel accounted for 10%, from Turkey—4%, from Arab countries—3%, and from other countries—about 12%.
This structure indicates that Batumi remains an investment market focused on external demand, short-term rentals, and the purchase of resort real estate. In contrast, Tbilisi remains primarily a residential market: according to TBC Capital, about 80% of purchases in the capital are for residential purposes, whereas in Batumi, about 85% of purchases are for investment purposes.
In the longer term, the Georgian market continues to normalize following the surge in 2022, when demand rose sharply due to migration flows. According to TBC Capital, in 2024–2025, demand growth slowed to 5.6–6.0% per year, and in 2026, the company forecasts residential real estate market growth of approximately 4.5%.
In 2025, according to TBC Capital, 78,500 real estate transactions were registered in Georgia, which is 6% more than the previous year. Of these, 49,200 transactions were in the secondary market, and another 29,300 were in the primary market. The average housing price in Tbilisi reached $1,312 per square meter, increasing by 4.1% over the year, while in Batumi it reached $1,395 per square meter, which is 16.5% higher than the previous year’s level.
Georgia remains attractive to foreign buyers due to its relatively low entry barrier, growing tourist traffic, straightforward transaction processes, and high rental yields compared to many European markets. However, rapid growth in supply, particularly in Batumi, and a gradual decline in rental yields may limit further price growth.
Effective March 1, 2026, Georgia also raised the minimum real estate investment threshold for obtaining a temporary residence permit to $150,000. This may shift demand toward more expensive properties and long-term investors, but at the same time reduce interest among some buyers focused on smaller apartments.
Georgia’s residential real estate market maintained moderate growth in the first quarter of 2026. According to the National Statistics Service of Georgia, the housing price index rose by 1.8% quarter-over-quarter and by 3% year-over-year. Since 2020, the cost of residential real estate in the country has increased by 62.3%.
Apartments saw the most significant price increases. In the first quarter, apartment prices rose by 2% quarter-over-quarter and 3.3% year-over-year, while private homes increased by 1.1% and 1.8%, respectively. This indicates more stable demand specifically for the apartment segment, particularly in the capital.
The highest prices continue to be recorded in the prestigious districts of Tbilisi. Among apartments, Mtatsminda leads with an average price of about $2,542 per square meter, followed by Vake at about $2,222, and Krtsanisi at about $1,662 per square meter. In the single-family home segment, the most expensive districts are Mtatsminda at around $1,803 per square meter, Vake at $1,679, and Didube at $1,582 per square meter.
For buyers of new construction, the stage of completion remains an important factor. According to the publication, average asking prices in the first quarter were approximately $1,639 per square meter for “green frame” apartments, $1,343 per square meter for “white frame” apartments, and $1,239 per square meter for “black frame” apartments. However, the source itself notes that these are asking prices on popular online platforms, not final transaction prices.
Overall, the new data confirms that the Georgian housing market continues to grow, albeit without sharp spikes. The main driver is the capital, and above all, high-quality urban housing in Tbilisi’s expensive neighborhoods, where prices have already noticeably exceeded $2,200 per square meter.
According to the Relocation.com.ua project, the residential real estate market in Tbilisi showed a noticeable acceleration in early 2026: according to a report by Galt & Taggart, 3,822 apartment transactions were registered in the Georgian capital in February alone, a 15% increase year-over-year. The average sales price in the primary market reached $1,398 per square meter, the average rental rate was $10.1 per square meter, and the rental yield is estimated at 8.6%.
In January-February, the total value of apartments sold in Tbilisi approached $600 million. At the same time, the market is receiving a signal of a potential shortage of new supply: in February, only 10 permits were issued for residential projects in the city, and the floor area of new projects approved for construction decreased by 45% year-over-year.
In the structure of February sales in Tbilisi, the primary market accounted for 1,958 transactions, while the secondary market accounted for 1,864. At the same time, the secondary segment grew faster, which may indicate buyers’ preference for purchasing ready-to-move-in housing rather than waiting for construction to be completed.
More recent publicly available statistics on real estate purchases by foreigners, broken down by nationality, in Georgia’s capital itself are limited. However, in the Batumi market, which Galt & Taggart also tracks, foreigners accounted for 52% of all apartment sales in 2025. Among foreign buyers, Israelis and Europeans each accounted for 13%, Ukrainians, Russians, and Belarusians each accounted for 11%, and citizens of Turkey and Central Asian countries each accounted for 3%.
https://relocation.com.ua/residential-sales-in-tbilisi-surged-sharply-in-early-2026/
Ukraine International Airlines (UIA) plans to resume flights to Tbilisi from January 31, and SkyUp Airlines from February 4, 2021.
Currently, there are no direct flights between the capitals of Ukraine and Georgia, Georgia plans to remove restrictions on international scheduled flights from February 1, 2021.
As noted in the UIA message on Thursday, after the official lifting of restrictions on air travel by the Georgian authorities, communication with Tbilisi by UIA flights will be possible twice a week: on Fridays and Sundays, with a return to Kyiv every Saturday and Monday.
In the future, from March 1, 2021, UIA expects to increase the number of flights in this direction to four flights per week.
SkyUp Airlines plans to launch flights Kyiv-Tbilisi from February 4 and Kyiv-Batumi from February 9.
SkyUp Airlines during the summer navigation schedule in March-June 2020 will launch flights from Kharkiv to Batumi, Tbilisi (both Georgia), Burgas (Bulgaria) and Tel Aviv (Israel).
According to the press service of the company, in particular, flights from Kharkiv to Batumi will start on May 29, 2020. They will be serviced on Tuesdays and Fridays. The price of the one way ticket starts from UAH 1,900 without baggage.
Flights from Kharkiv to Burgas are planned from June 2, 2020. They will be performed on Tuesdays. The price of the one way ticket starts from UAH 1,600 without baggage.
Flights from Kharkiv to Tel Aviv will be launched from March 29, 2020. They will be serviced on Thursdays and Sundays. The price of the one way ticket starts from UAH 2,400 without baggage.
Flights from Kharkiv to Tbilisi are also planned from March 29, 2020. They will be performed on Mondays and Thursdays. The price of the one way ticket starts from UAH 1,800 without baggage.
SkyUp Airlines LLC was registered in Kyiv in June 2016. The founder is ACS-Ukraine LLC of Tetiana and Yuriy Alba, who also own the JoinUp! tour operator.
Ukraine International Airlines (UIA, Kyiv) could increase frequency of flights to Tbilisi and the company is not planning flights to Batumi, UIA Communications Director Yevhenia Satska has said.
“We conduct two daily flights to Tbilisi and are considering possibility of increasing their frequency. We are not planning flights to Batumi,” she said on June 26.
Satska noted that Tbilisi is important to UIA as it has a transit network effect.
“For passengers from Europe and Baltic countries a trip to Tbilisi through Kyiv is a very good model,” she said.
At the same time, Satska mentioned high airports fees in some Georgian airports that were transferred to concession.
“There is a problem which does not leave us [UIA] a chance to develop in Georgia: airport fees are rather high in Tbilisi and Batumi as long as these airports are in concession of foreign companies. These fees are much higher than in many European cities. Their reduction could automatically let us cut the cost of flight by the same amount,” she said.
