According to Galt & Taggart's monthly survey, June 2026 has become one of the most active months in the Tbilisi residential real estate market in recent years. In just one month, 4,503 apartments were sold in the Georgian capital, which is significantly higher than last year and previous months.
Demand is breaking records
The primary market showed the greatest growth: sales in new buildings increased by 52.6% year-on-year, reaching 2,279 units. An operational survey of developers conducted by Galt & Taggart shows even higher dynamics - an increase of 54.4% year-on-year, partly due to the effect of a low base. In general, in the first half of 2026, the number of apartments sold on the primary market increased by 33.5%.
The secondary market also showed impressive results: sales increased by 22.3% to 2,224 apartments, which was the highest monthly figure since 2022. In the first half of the year, 22,799 transactions were registered in Tbilisi, and the total market volume reached USD 2 billion, an increase of 26.6% compared to the same period last year.
The offer is being restored
After eight months of continuous decline, the area of building permits issued in June increased by 225.3% year-on-year, reaching 300,095 square meters in 29 construction projects. This is the highest monthly figure since 2021. However, despite the surge in June, in the first half of the year as a whole, the volume of permits issued still decreased by 7.3% compared to last year.
Prices stabilize after April surge
The average price in the primary market continued to grow modestly, increasing by 0.3% over the month to $ 1,417 per square meter. In the secondary market, for new buildings (built with permits since 2013), the price, on the contrary, decreased by 1.5% to $ 1,345 per square meter, which analysts attribute to partial stabilization after a sharp A 5% jump in April.
Rent retains high profitability
The cost of renting an average apartment (with an area of 50-60 square meters) in Tbilisi is 10.1 dollars per square meter. m per month, which is 1.4% higher than in May. Rental yields remain at 8.5%, which makes the market attractive to investors.
The market is moving towards sustainable development
Analysts note that after a period of rapid growth caused by the migration influx in 2022-2023, the Tbilisi real estate market is moving towards a more moderate and sustainable development. The main buyers remain Georgian citizens, who account for 75% of the demand in the primary market. Among foreigners, citizens of Israel (about 10% of sales) and Russia (about 4%) are the most active. The share of other foreigners is about 11%.
Apartments with an area of 51-80 square meters (53.5% of sales) are the most popular, and more than half of the transactions (51.8%) are in the budget segment of up to $ 1,100 per square meter. The highest prices are traditionally recorded in the prestigious areas of Vake and Mtatsminda (more than 2,800-2,900 dollars per square meter), whereas in more affordable areas such as Didi Digomi and Gldani, prices remain at the level of 1,150 dollars per square meter. m and below.
Source: TBC
