Recov data for May shows Batumi transactions up 2.5% and market value up 22.2%. At the same time, secondary-market activity increased while primary activity declined. One headline figure hides that difference. We set out what changed and which conclusions would still be premature.
Batumi registered 1,324 apartment transactions in May 2026, 2.5% more than a year earlier. Monthly market value reached USD 87 million (+22.2% year-on-year). Value grew faster than transaction count. This points to a higher price level or a different sales mix, but does not prove appreciation for a specific apartment.
The newly built weighted average price reached USD 1,323 per m². Annual growth was 8.7% on the primary market and 4.5% on the secondary market. Recov notes that some primary transactions are registered late, so one month should not be treated as a settled trend.
Transactions in new projects rose 3.3%, while old-project transactions fell 7.3%. The split by market type is sharper: secondary transactions increased 13.4%, while primary transactions declined 8.5%. The headline 2.5% increase therefore does not represent even growth.
Foreign buyers accounted for 49% of old/new project transactions and 59% of annual transaction growth. Foreign demand remains an important part of the market, but it did not account for all of May growth.
Tbilisi registered 3,787 transactions in May (+13.1% year-on-year), while market value reached USD 334 million (+32.4%). Foreign buyers accounted for 11.4%. The comparison shows that demand differs significantly between the two cities.
Recov May data does not calculate rental yield. For yield context, we keep the stronger public benchmark: Galt & Taggart’s 7.4% for the full Batumi market in 2025, after 8.8% in 2024. Price growth and rental yield are different measures. A property result still depends on entry price, occupancy, costs, management and exit terms.
Open question: how much of the 8.5% decline in primary transactions reflects demand, and how much reflects delayed registration? One month is not enough to answer. June data and transactions registered after the summer season will matter.
May shows an active market, but not equal growth across every segment. The data is context, not a valuation of a specific property and not a forecast.
If you are considering a specific property or district, Partner Estate can connect this data to your decision.