+12.7%
Tbilisi apartment transactions YoY — 3,603 flats sold in Apr 2026 (Recov)
Tbilisi — the economic and cultural hub
Year-round demand, deeper transaction volume and less seasonal rental behaviour than the coast.
Tbilisi is the steadier counterweight to Batumi in a Georgia portfolio. It is less dependent on the summer season and has a larger transaction base: Recov reported 3,603 apartment transactions in April 2026, with monthly market size at USD 310 million. That depth matters when an exit is on the horizon. The right question is still object-level: tenant profile, building quality, district liquidity and purchase price.
8.2%
Rental yield context in Oct 2025, down 1.4 pp YoY (TBC Capital)
$310M
Monthly residential market size in Apr 2026, +28.3% YoY (Recov)
Year-round tenant demand
The Tbilisi rental market is structurally less seasonal than Batumi. Long-term tenants — local professionals, expat managers, embassy staff and the diplomatic corps — support demand through the off-season months. TBC Capital reported rental yield at 8.2% in October 2025, down 1.4 percentage points year-on-year. That is context, not a promise: the actual result still depends on purchase price, tenant profile, building condition and vacancy.
Foreign direct investment hub
Tbilisi attracts the bulk of Georgia's USD 1.69 billion 2025 FDI inflow (Geostat). The financial services sector alone took USD 579.5 million in 2024 — most of it landing in the city — followed by manufacturing and real estate. Class-A office vacancy continues to tighten as international demand outpaces high-grade supply (Colliers Q3 2025), which puts pressure on prime rents. The secondary residential market typically tracks office demand with a 12–18 month lag.
ICT and remote-worker demand
Forbes Georgia and TBC Capital both flag the IT sector as the fastest-growing component of Tbilisi's services economy in 2023–2025. The combination of a competitive cost base, the Georgian-government Digital Nomad visa programme and tax-favourable contractor status (1% under the small-business regime) attracts both regional IT firms relocating ops and individual remote workers. Upper-segment one- and two-bedroom apartments in Vake and Saburtalo are the direct beneficiaries — the same buildings the long-term yield numbers above are drawn from.
Capital appreciation and exit liquidity
Recov data for April 2026 shows 3,603 apartment transactions in Tbilisi, up 12.7% year-on-year, with monthly market size at USD 310 million (+28.3% YoY). Newly built prices grew 11.2% citywide on the primary market and 11.0% on the secondary market. The market is deep, but exit value still depends on micro-location, building quality and the buyer pool for that specific asset.
Sources
- Recov — real estate analytics by Colliers Georgia
- Revenue Service of Georgia — tax rates & guidance
- TBC Capital — Tbilisi Residential Market Monthly Watch
- Colliers Georgia
- Geostat — FDI bulletins
- Forbes Georgia
Last reviewed · 8 May 2026