Despite a gradual normalization of migration trends, demand for rental real estate in Tbilisi remains strong, both from foreigners and locals, - according to Victoria Sakurava, founder of Sakura Properties.
Speaking to BMG, Sakurava noted that a shortage of rental apartments is still evident in several districts of the capital, particularly in Vake-Saburtalo, Mtatsminda, and Chugureti, where finding even a one-bedroom apartment in a new building at a reasonable price has become increasingly difficult.
“Rental prices have already stabilized at a certain level, and we don’t expect them to drop further, at least not significantly,” she said. “In central districts, prices are holding firm due to limited supply.”
Sakurava did note that minor price declines may still occur in areas like Didi Digomi, where a potential oversupply of newly built apartments could push down rental rates.
However, she emphasized that a return to pre-migration price levels is not expected, given the persistent demand and limited inventory in key urban neighborhoods.
According to the latest data, average apartment rental prices in Tbilisi decreased by 11% year-on-year in June, settling at USD 10.4 per square meter. Nonetheless, prices remain elevated in central locations compared to pre-2022 levels, largely due to the post-pandemic migration surge and a growing local rental market.
