TBC Capital’s latest review of the residential real estate market reveals that apartment sales in Tbilisi fell by 10% in August 2025 compared to the same month last year. A total of 2,823 transactions were recorded during the month.
Sales of newly built units dropped 17% year-on-year to 521, accounting for 18% of the market. Meanwhile, 2,302 transactions involved older apartments, down 8% from August 2024 but still representing the dominant share of activity.
Despite the decline, analysts suggest the figures do not signal weaker demand. TBC Capital attributed the drop mainly to calendar effects, noting that August 2025 had two fewer working days than the previous year, which reduced official registrations. “The decrease was caused by holidays and not by a decrease in activity in the real estate market,” the report emphasized.
Market structure by apartment size also shifted. Units between 50–75 sq m were the most in-demand, representing 45% of sales, up from July. In contrast, apartments larger than 125 sq m remained the least popular, comprising just 4% of transactions.
Price distribution showed signs of upward movement in the premium segment. The share of apartments priced below USD 1,500 per sq m fell slightly compared to July while the proportion of higher-priced units above this threshold increased by five percentage points to reach 33% of total sales.
