In 2026, the Tbilisi housing market will exhibit two simultaneous trends:Sales are increasing, and the prices are almostStableSuch a picture always raises the question — is it time to buy, or is it better to wait? In this article, the NULI.GE team explains what is happening in the market and how to make a decision based on your goal.
Key figures: What 2026 will bring
According to Galt & Taggart (published by GBC), in January–May 2026 in Tbilisi18,296 apartments Sold for approximately$1.6 billion — +21.9% compared to the previous year. Growth is observed in both segments: the secondary market and newly constructed properties.
- Newly built (primary market): Average ~1,410 USD per sq. m (May 2026).
- Secondary market (newly constructed buildings): ~1,366 $ per sq. m.
- Rent: For an apartment of 50–60 m², the average rent is ~ $9.9 per square meter per month, i.e., the annual return is ~8.4%.
In short: the price fluctuates by only a few percentage points from month to month, and demand remains consistently high.
Why don’t prices go down when so many apartments are being built?
There are several reasons for this:
- Affordable mortgage. The minimum down payment for a GEL loan was reduced to 10%, which enabled many families to enter the market.
- Economic growth. The World Bank has raised its growth forecast for Georgia to 7% by 2026. Growing incomes increase demand.
- Foreign buyers. Their share in the Tbilisi market is gradually increasing.
- Fewer new permits. Building permits are declining month by month in 2026 — this will limit the supply of new apartments in the future.
Buy now or later? Decide based on your goal
| Your goal | What we recommend |
|---|---|
| For long-term living | If the budget and income are stable, waiting for the “perfect moment” rarely pays off. The key is the right location and the right documents. |
| Investment for rent | Calculate the actual return (rent minus expenses and vacant months). The 8% average does not apply to all neighborhoods. |
| Short-term resale | In an environment of stable prices, expecting a rapid increase in prices is risky — pay attention to the developer’s reliability. |
How to find the best price on the market
- Compare the price per square meter in the same neighborhood and in similar buildings — seeApartment price statistics on NULI.GE.
- The system automatically marks the cheapest among similar properties on NULI.GE“Best Price”, and discounted listings will show the old price crossed out.
- Calculate your monthly contributionWith a mortgage calculator — Before you contact the bank.
- Before making a purchase, be sure to check the cadastral code and the extract from the Public Registry.
NULI.GE’s conclusion
The Tbilisi market in 2026 is not a ‘bubble’ and is not on the verge of a downturn: demand is high, and prices are moving moderately. The best strategy is not to wait,It’s a well-considered purchase. — With the right location, verified documents, and a realistic budget.
Frequently Asked Questions
How much will 1 sq. m. in a newly built apartment in Tbilisi cost in 2026?
According to data from spring 2026, the average price on the primary market is approximately $1,400–1,420 per square meter. Prices are much higher in central districts and lower in the suburbs.
Will apartments in Tbilisi become more affordable?
Current data do not indicate a sharp decline: sales are increasing, while new permits are decreasing. However, the market is influenced by interest rates, exchange rates, and regional events.
How much income will the apartment generate from rent?
The average annual return on a 50–60 m² apartment is approximately 8–8.5%, but the actual income is lower, taking into account expenses and vacant months.
Sources: Galt & Taggart Research (GBC, 2026); World Bank Forecast (Georgia Today, October 2026).
the article is informative and does not constitute financial, tax or legal advice. Consult with a specialist before making an important decision.
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