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Tbilisi Housing Market Kicks Off 2025 with Rising Prices, Fewer Sales

by Mariam Razmadze
February 14, 2025
in Business & Economy, News
Reading Time: 1 min read
Tbilisi Housing Market Kicks Off 2025 with Rising Prices, Fewer Sales

Photo: Business Insider Georgia.

Colliers Georgia published a report revealing that the Tbilisi Residential real estate market started in 2025 with a mild rise in new project transactions and a sharp decline in old flat sales.

Transactions

In January 2025, transactions in new projects rose by just 0.5%, while old flat sales dropped by 29.2% year-on-year. This is the steepest decline since the pandemic in 2012. Overall, residential transactions totaled 2,892 units.

Market size

Despite fewer transactions, the market size grew by 2.9%, reaching $208 million.

Price changes

The weighted average price of old flats saw notable increases:

    • Wide center: 12.5% increase
    • Suburbs: 10.4% increase
    • City center: 7.2% increase

Newly-built flats in the suburbs saw an 8.8% increase, and in the city center a 5.8% increase.

For the full year of 2024, real estate activity displayed mild growth. Total transactions were 41,284 units, the market size was $2.8 billion, and old flat prices saw an 13% increase in the suburbs and wide center and a 15% rise in the city center.

While the newly-built segment remains stable, the decline in old flat sales continues, suggesting changing buyer preferences.

Tags: Colliers GeorgiaTbilisi real estate market
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