Tbilisi real estate market — prices, rental yield and trend

• Average price: $1,341 / m²
• Gross rental yield: 9.04%
• 12-month price change (USD): 9.96%
• Net rental yield: 8.59%
• Transaction cost: 4.9%
• Bubble-risk band: moderate
• Price basis: local-market average

Residential property in Tbilisi averages $1,341 per square metre, +10% in dollar terms over the last twelve months. That makes it the 251st most expensive of the 264 markets in the set. In local currency the same twelve months read +4.9%; the 5.1-point gap is the exchange rate, not the housing market.

What a buyer pays in Tbilisi

The $1,341 figure is a local-market average across all residential property types: a flat in a prime district sits well above it, an older unit on the edge of the market well below. Buying costs — transfer tax or stamp duty, notary, registration and agency — come to about 4.9% of the price here. On a 100 m² apartment at the average price that is roughly $6,571 on top of the $134,100 purchase price. That is below the 9.5% median across the set, which shortens the time it takes for a purchase to break even. Of that, the transfer tax alone is 0%; the rest is notary, registration and agency fees. That is 22.8% below the Georgia national average of $1,737. Among the other Georgia markets we track, Batumi at $1,497 is 10.4% dearer.

What it earns

A square metre lets for about $10.1 a month. Against a purchase price of $1,341 per square metre that is 9% gross, before tax. Both figures come from the same source and the same period, so you can check the arithmetic yourself. It ranks 10th of 311 markets by gross yield. Rental income is taxed at 5–20% — the rate is not a single number here. That is the difference between 7.2% and 8.6% net on the same property. The 8.6% net figure we publish uses 5%. On the way out there is a third tax: a non-resident seller pays 0–5% on the gain, depending on how long the property was held and who is selling.

How the tax works. 5% of the gross rent when an individual lets residential property and claims no expenses, which is the usual choice; the alternative net-basis regime at Georgia's general 20% income-tax rate is the upper end of the band. Non-resident eligibility for the 5% regime rests on Georgian practitioner sources rather than the primary text of the Tax Code. Source: PwC Georgia.

How stretched the price looks in Tbilisi

Glopra’s bubble-risk score for Tbilisi is 36 out of 100 — moderate risk. Of the 65 markets scored, 57 read higher. This is a simplified reading: fewer than three index components are available for this market, so treat it as indicative rather than comparable with fully scored markets.

Who can buy in Tbilisi

Full ownership of residential and non-agricultural land. That is the rule a foreign buyer meets first, not legal advice — check the current position locally before you commit.

How this figure is built

The price figure for Tbilisi is built from asking prices from listings. It was last refreshed on 2026-11-12. We rate our confidence in this market’s data medium: the series is usable, but thinner or less current than our best-covered markets. We recompute every market the same way, which is what lets Tbilisi be compared with a country average or another city.

Sources: geostat.ge · globalpropertyguide.com. Snapshot: 2026-11-12.