How has the Tbilisi real estate market changed in 2025, and what is important to know before buying in 2026

2025 was an important year for the Tbilisi real estate market. After several years of active growth, the market began to operate more calmly and predictably. There were still many purchases, but the decisions became more informed. People are more likely to compare options, consider their budget, and understand their purchase goals in advance.

This is a key change compared to previous years, when demand was largely emotional. In 2025, the market became more transparent and structured.

In this article, we will explore what happened to the Tbilisi real estate market in 2025. We will analyze prices, demand, different market segments, and the rental situation. Finally, we will provide a forecast for 2026 and explain how to approach the purchase of an apartment if you are considering options for living or investment. Our goal is to help you better understand the market and make an informed decision about your purchase. 

What happened to the Tbilisi real estate market in 2025?

In 2025, the market experienced uneven growth. While prices continued to increase, they did not rise as sharply as before. However, the growth varied significantly depending on the area, type of property, and quality of the project.

In terms of real estate prices in Tbilisi, the primary market experienced an average increase of 15-25% in 2025. In good projects with well-developed infrastructure and good transportation accessibility, the increase was closer to the upper end of the range. In weaker projects, the increase was minimal or non-existent.

Compact apartments, such as studios and one-bedroom options, remained the most in demand. These apartments in Tbilisi in 2025 were often purchased for rental purposes or as the first investment property. Larger apartments were sold more slowly, especially in projects with limited infrastructure.

The supply on the market increased. In 2025, many new projects were launched, particularly in developing areas. Because of this, buyers became even more selective and increasingly compared not only the price per square meter, but also the layouts, surroundings, the developer, and the purchase conditions.

What areas were focused on in 2025?

The real estate market in Tbilisi consists of several segments. One of the key divisions is by area.

Central and historical areas

In the center of Tbilisi, demand was stable. Here, apartments were often purchased for living or long-term rental. Prices grew moderately, but such properties remained liquid. Selling or renting out an apartment in these areas was easier than in most new locations.

New residential areas and clusters

These areas were actively chosen by families and those who moved to Tbilisi on a permanent basis. New projects offered a more comfortable environment, including courtyards, parking lots, and children’s areas. In 2025, new buildings in these areas showed a stable increase in prices, provided the project was of high quality.

Investment properties

For investors, small apartments with a clear rental logic were the most effective. It was important not only to buy cheaply, but also to understand who would rent the apartment and at what price.

Business and premium segments

This segment remained niche. Here, buyers became especially attentive to checking the project, views, construction quality, and house maintenance conditions.

Renting and profitability in 2025: the main conclusions 

The rental market in 2025 was stable, but it required careful planning. Not everyone received high profitability, but only the owners of well-chosen properties.

On average, renting in Tbilisi yielded a profitability of around 6-9% per year before expenses. This is not a fixed figure, but rather a guideline. The final result was influenced by vacancies between tenants, renovation and furniture costs, management conditions, and competition in a particular area.

Apartments in areas with convenient transportation and clear demand were the most profitable. One-bedroom apartments and compact options with a single bedroom, which had a well-designed layout and neat renovations, were particularly stable. These properties were more likely to find tenants and were less likely to be vacant.

On the other hand, apartments without renovations or with outdated finishes often lost in profitability, even if they were initially cheaper. A similar situation occurred in areas with a large number of new buildings: tenants had a wide choice, and owners had to either lower the price or wait longer for tenants to move in.

The rental format also played a role. Long-term rentals provided a more stable and predictable income. Short-term rentals could be more profitable, but only in successful locations and with active management. Without proper planning and control, this format often proved disappointing.

The main conclusion of the year is simple: renting in Tbilisi continued to work, but only with the right strategy and property.

Tbilisi real estate market forecast for 2026: what to expect? 

We are considering 2026 through several possible scenarios.

The basic scenario

The most likely option is a steady price increase in the range of 5-10%. Demand will continue, but buyers will haggle and choose for longer.

An optimistic scenario

With the growth of the economy and interest from investors, the market may accelerate. In this case, strong projects will show above-average growth.

A cautious scenario

If external factors exert pressure, the market may slow down. Then liquidity will come to the fore, not the minimum price.

In all scenarios, investments in Georgian real estate in 2026 will require a more accurate selection of an object for a specific purpose. The lack of calculation is one of the main mistakes that buyers made in 2025. We’ll talk about the main ones below. 

Common mistakes of buyers in 2025 and what to consider in 2026

In 2025, many deals in Tbilisi were disrupted or disappointed buyers not because of the market itself, but because of incorrect expectations and hasty decisions. Below are the errors that occurred most often.

A purchase without a clear purpose.

Often the object was chosen «just in case»: it seemed to be for investment, but with plans to live on their own. As a result, the apartment turned out to be inconvenient either for rent or for permanent residence.

Focusing only on beautiful renders.

Some buyers entered the projects at an early stage, without checking the developer, his experience and already completed facilities. The decision was made based on emotions, promises and visualization, without analyzing the actual deadlines and quality of execution.

Belief in a guaranteed income.

The expectation of fixed returns, excluding seasonality, downtime, repair and management costs, often led to disappointment in the first year of ownership.

The choice of an object is based only on the price per square meter.

A low price by itself does not mean a profitable purchase. In 2025, there were many examples when cheap properties remained illiquid and did not sell well.

What is important to pay attention to in order to avoid these mistakes?: 

– check the developer: completed projects, meeting deadlines, reputation;

– study the documents and terms of the contract before making an advance payment;

– understand exactly how the object will be used — for living, renting or resale;

– evaluate the competition around the project and the future supply volume;

– consider several scenarios: optimistic and conservative, taking into account all expenses.

And here are the red flags that require special attention:

– promises of fixed or «guaranteed» returns.;

– lack of clear documents and transaction structure;

– pressure in the style of «the discount is valid only today»;

– vague or unclear conditions for managing an object after purchase.

Conclusions for 2026

The experience of 2025 has shown a simple thing: the result of a transaction increasingly depends not on the general movement of the market, but on the quality of a particular object. In 2026, the winners will be those who approach the choice of real estate consciously — with calculation, checks and understanding of their purpose.

BD Realty helps clients understand the Tbilisi market, evaluate projects in terms of liquidity, and support transactions for specific tasks — for living, renting, or investing. Leave a request, and we will select the facilities in Tbilisi for you and advise you on all issues.