TBC Capital delivered a presentation on Georgia’s real estate market at the International Real Estate Forum organized by the Georgian Business Association. The event brought together representatives from both the private and public sectors, along with nearly 100 international investors and leading real estate agencies from across Europe, Israel, and the United Arab Emirates.
The forum aimed to promote Georgia’s real estate market and overall investment potential, while also fostering connections between international investors and leading Georgian companies.
At the event, TBC Capital’s Senior Vice President, Irina Kvakhadze, presented the company’s research on the residential real estate market.
According to TBC Capital’s publication, Georgia’s primary residential real estate market nearly tripled between 2019 and 2025. Tbilisi accounts for 68% of the market, while Batumi represents 21%. In the capital, real estate is mainly purchased for residential purposes (80%), whereas in Batumi, most purchases are made for investment purposes (85%).
The highest demand growth was recorded in 2022, reaching 29.5%, largely driven by migration flows. This factor significantly increased interest in both rental and purchase markets. In the following years, demand began to normalize, growing by 5.6–6.0% in 2024–2025. TBC Capital forecasts residential real estate market growth of 4.5% in 2026.
In terms of pricing, residential property values in Tbilisi increased by an average of 8% annually between 2019 and 2025. For the current year, TBC Capital forecasts a more moderate price increase of 3.2%.
Rental prices also surged in 2022, with the market beginning to stabilize from March 2023. In 2025, the average rental price per square meter decreased by 11% to $10.4. In 2026, sharp fluctuations are not expected. According to TBC Capital’s forecast, rental prices will continue to see a slight correction, decreasing by approximately 2.1%.
TBC Capital’s research also indicates growing potential supply in Tbilisi’s residential real estate market. Construction permits issued in Tbilisi increased by 2% in 2025, suggesting that competition in the market is likely to intensify further in the coming years.
