In April 2026, the primary real estate market in Tbilisi, according to a recent report by Galt & Taggart, demonstrated a steady recovery in demand: sales reached the third largest monthly figure after a record in 2022. The secondary market also remained highly active, partly due to the effect of last year's low base.
Sales are growing
According to the Public Register, 3,641 apartments were sold in the Georgian capital in April. At the same time, sales in the secondary market increased by 17.2% year-on-year, to 1,857 units, and in the primary market (including registration delays) by 4.6%, to 1,784 units. An operational survey of developers reflecting real current trends showed an even sharper jump: sales in the primary market increased by 64% compared to April 2025. In total, 14,548 transactions were registered in Tbilisi in the first four months of 2026, and the total value of the housing market reached 1.3 billion US dollars, which is 22.4% more than a year ago.
The offer is shortened
In April, construction permits were issued for only 9 residential projects with a total living area of 113.2 thousand square meters, which is 54% less than in April 2025. It is noted that the area of permits issued has been decreasing for the seventh month in a row, which signals the normalization of the market after the previous overheating. In January and April, the volume of new permits fell by 40% compared to the same period last year.
Prices continue to rise
In the primary market, the average price per square meter increased by 0.4% in April, reaching $1,408. In the secondary market (for new homes built with permits issued since 2013), the growth was more noticeable: +5% per month, to $1,371 per square meter.
For the year from April 2025, the increase in housing prices in Tbilisi amounted to 5.7%.
Rent and profitability
Rent an average apartment with an area of 50-60 sq.m. An apartment in Tbilisi in April cost $10 per square meter (+0.4% per month). The yield on rental housing remains at a high level of 8.5% per annum.
Who's buying?
Georgian citizens have completed 75% of transactions. Israelis are the leaders among foreigners (11% of transactions), Russians (3% of transactions). Citizens of other countries accounted for 11% of purchases.
Districts
Traditionally, the prestigious districts of Vake and Mtatsminda are the leaders in prices. In Vaka, the average price per square meter was $2,945, and in Mtatsminda, $2,881. In Chugureti, $2,235 per sq. m.
The most transactions in April were recorded in Didi Digomi - 732 sales with an average price of 1,136 dollars per sq. m. Saburtalo (760 transactions, price 1,647 dollars), Samgori (571 transactions, 1,124 dollars) and Gldani (319 transactions, 1,135 dollars) are also in the top in terms of sales. The lowest prices are in Varketili (Samgori district), Vasijvari and Gldani: from 1,069 to 1,135 dollars per square meter.
Source: Galt & Taggart
