Georgia construction permits up 0.4% as completions fall 5.9% in 2026
Georgia completed 2,307 buildings in January-September 2026, a change of -5.9%, while construction permits edged up 0.4% to 8,632 and permitted area rose 2.0%.
The facts
- Completed buildings numbered 2,307 in January-September 2026, a change of -5.9% against the same period of 2025, the National Statistics Office of Georgia reported on 30 October 2026.
- Completed floor space rose 2.8% to 2,543.6 thousand square metres, so fewer buildings delivered more area.
- Permits granted for construction reached 8,632, up 0.4%, and the permitted area 8,654.8 thousand square metres, up 2.0%.
- Tbilisi accounted for 48.1% of permits, ahead of Kvemo Kartli on 8.9%, Kakheti on 8.2% and Adjara on 7.8%.
- Completions were spread more widely: Tbilisi took 32.5%, Mtskheta-Mtianeti 13.9%, Kakheti 12.2% and Kvemo Kartli 8.6%.
What it means for your money
- Fewer finished buildings reached the market this year. New-build supply tightens first where completions concentrate.
- Glopra data puts Tbilisi at 1,341 USD per square metre, 4.9% higher than a year ago, on a gross yield of 7.42%, and the city holds 48.1% of the permit pipeline, so the next wave of stock is aimed at Georgia's most expensive market.
- Permitted area grew 2.0% while completions shrank, which tells an owner already holding Georgian property that the squeeze on new supply is a delivery lag rather than a shrinking pipeline.
- Completed area rose 2.8% on 5.9% fewer buildings, pointing to larger projects whose units compete with the apartment stock rather than with houses.
What to watch
- Geostat publishes the fourth-quarter figures at the end of January, which will show whether completions close the gap on permits.
- The residential property price index for the fourth quarter, from the same office, measures what the thinner delivery did to prices.
- The release counts buildings and square metres, not dwellings, so unit numbers cannot be read from it.
Sources: National Statistics Office of Georgia https://www.geostat.ge/en/modules/categories/191/permissions-granted-for-construction-and-completed-objects