According to the monthly review by Galt & Taggart, June 2026 was one of the most active months in Tbilisi's residential real estate market in recent years. In total, 4,503 apartments were sold in the Georgian capital during the month, significantly exceeding both last year's figures and those of previous months.
The primary market showed the strongest growth: sales of new builds increased by 52.6% year-on-year, reaching 2,279 units. An operational survey of developers conducted by Galt & Taggart shows even higher dynamics – growth of 54.4% year-on-year, partly explained by a low base effect. Overall, in the first half of 2026, the number of apartments sold on the primary market grew by 33.5%.
The secondary market also delivered impressive results: sales rose by 22.3% to 2,224 apartments, 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, up 26.6% compared to the same period last year.
After eight consecutive months of decline, the area of issued construction permits rose by 225.3% year-on-year in June, reaching 300,095 square meters across 29 construction projects. This is the highest monthly figure since 2021. However, despite the June surge, the total volume of permits issued in the first half of the year still decreased by 7.3% compared to last year.
The average price on the primary market continued its moderate growth, increasing by 0.3% over the month to USD 1,417 per square meter. On the secondary market for new buildings (built under permits issued since 2013), the price, on the contrary, decreased by 1.5% to USD 1,345 per square meter, which analysts attribute to partial stabilization after a sharp 5% jump in April.
The rental cost of an average apartment (50-60 sqm) in Tbilisi is USD 10.1 per square meter per month, 1.4% higher than in May. Rental yield remains at 8.5%, making the market attractive for investors.
Analysts note that after a period of rapid growth driven by migration inflows in 2022–2023, Tbilisi's real estate market is transitioning to more moderate and sustainable development. Georgian citizens remain the main buyers, accounting for 75% of demand on the primary market. Among foreigners, the most active are citizens of Israel (about 10% of sales) and Russia (about 4%). The share of other foreigners is about 11%.
The most popular are apartments with an area of 51–80 sqm (53.5% of sales), and more than half of transactions (51.8%) fall into the budget segment – up to USD 1,100 per square meter. The highest prices are traditionally recorded in the prestigious districts of Vake and Mtatsminda (over USD 2,800–2,900 per square meter), while in more affordable areas such as Didi Digomi and Gldani, prices remain at USD 1,150 per square meter or lower.