Tbilisi house prices rise 5.9% in Q3 2026
Georgia's official index for new-build homes in Tbilisi rose 5.9% year on year in the third quarter, with detached houses at 7.0% outpacing flats at 5.6%.
The facts
- The National Statistics Office of Georgia published its Residential Property Price Index for the third quarter of 2026 on 23 October; the total index was +5.9% year on year and 1.5% above the previous quarter.
- The total index now stands 66.2% above its 2020 average, the base year of the series.
- Flats rose 1.2% on the quarter and 5.6% on the year, and sit 63.1% above the 2020 average.
- Detached houses rose 2.7% on the quarter and 7.0% on the year, and sit 72.7% above the 2020 average.
- The index covers only newly built dwellings in Tbilisi and is measured in Georgian lari, so it says nothing about resale stock or about the rest of the country.
What it means for your money
- Entry into Tbilisi new-builds costs about 6% more than a year ago. Houses are repricing faster than flats.
- Glopra's data puts the average Tbilisi asking price at $1,341 per square metre with a bubble-risk score of 36 out of 100, so the market is repricing from a mid-range level rather than a stretched one.
- If you already own there, the 7.0% house figure against 5.6% for flats is the mix signal: the detached segment is where the lari gains are concentrated, and it is also the thinner market to exit.
What to watch
- The National Bank of Georgia left its monetary policy rate at 8.25% on 21 October, so lari borrowing costs stay above the pace of new-build price growth.
- The index is quarterly and new-build only; a slowdown in resale prices would not show up in it at all.
Sources: Geostat https://geostat.ge/media/83637/Residential-Property-Price-Index---III-quarter-of-2026.pdf; National Bank of Georgia https://nbg.gov.ge/en/monetary-policy/committee-decisions?mid=948