Tbilisi real estate market — prices, rental yield and trend
- Average price: $1,341 / m²
- Gross rental yield: 9.04%
- 12-month price change (USD): 8.3%
- 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, +8.3% in dollar terms over the last twelve months. That makes it the 55th most expensive of the 59 markets in the set.
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 9.1% median across the set, which shortens the time it takes for a purchase to break even.
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. That is the highest gross yield of the 55 markets we track. 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%.
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 58 markets scored, 52 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 2026-09-13. 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 RPPI Q2-2026 (primer XLSX, 'same quarter of previous year') · geostat.ge · globalpropertyguide.com. Snapshot: 2026-09-13.
Latest Tbilisi market analysis
- Georgian Housing Costs Rose 8.5% in the Year to August as Rents Kept Climbing — 2026-09-09
- Georgia (Tbilisi): Buying Costs and Property Taxes in 2026 — 2026-08-03
- Georgia Property Market: Cheapest Entry, 7.42% Yields and a Medium-Confidence Caveat — 2026-07-03
- Georgia's Property Market in 2026: Low Entry Prices, High Yields, Real Risks — 2026-07-03
- Buying Property in Georgia as a Foreigner: Ownership Rights and the Registration Process — 2026-07-03