A record volume of apartment completions is expected in 2026, which will also support the construction and renovation materials sector, according to a market review by Galt & Taggart.
The investment bank estimates that 35,000 apartments will be completed this year, significantly higher than in previous years when the figure stood at around 20,000 or less. For comparison, preliminary data for 2025 suggests about 18,000 completed units.
Looking ahead, Galt & Taggart expects a decline after 2026, forecasting around 27,000 completions in 2027, followed by a further decrease to approximately 25,000 units in 2028–2029. The report also highlights similar growth trends in Batumi, where 18,000 apartments are expected to be completed in 2026, up from 13,000 in 2025, also a record level for the city.
In 2025, construction permits were issued for 11.4 million square meters nationwide, with 77% allocated to residential buildings. Tbilisi accounted for the largest share (6.4 million sq.m), followed by Adjara (3.1 million sq.m). Despite strong current activity, 2024 remains the peak year on record, with permits issued for 12 million square meters of construction.
