The decline in apartment rental prices in Tbilisi is expected to continue slightly, according to Tamuna Tsotsoria, founder of the real estate company Mycorner.ge.
Speaking to BM.GE, Tsotsoria said that reduced demand and market stabilization are driving a gradual decline in rental costs.
“I think that due to the lack of demand, prices will decrease a little more. At this stage, buying has become more relevant than renting, and consumers are behaving more thoughtfully. The artificially increased demand from foreigners, which emerged amid the war, is no longer as high, and this trend is unlikely to repeat,” she explained.
According to Tsotsoria, rents have decreased by about 5–10% on average.
“I can’t say prices have dropped drastically, but on average, there’s been a 5% decrease, the maximum might be around 10%,” she said.
Saburtalo remains the most in-demand district for both residential and commercial space.
“All major business centers and shopping areas are concentrated there. The section between Pekin and Jikia streets is particularly popular,” Tsotsoria added.
Smaller apartments measuring 50–60 square meters are currently the most sought after, with average rents between USD 550 and USD 650. Two-bedroom apartments typically rent for about USD 200 more.
Tsotsoria also noted that, alongside foreigners, Georgian students have become more active in the rental market, leading to a short-term rise in demand during September and October.
According to data from TBC Capital, apartment rents in Tbilisi fell by 10% in September, with the average rental price per square meter standing at USD 10.2.
