In August 2025, a total of 2,823 apartments were sold in Tbilisi, marking a 10% decline compared to the same month last year, according to TBC Capital’s latest review of the residential real estate market. The slowdown was observed across both new and old apartments, though market analysts note that the drop does not necessarily reflect weaker demand.
Sales of new apartments accounted for 18% of all transactions, with 521 units sold during the month. This represents a 17% year-on-year decrease compared to August 2024. Meanwhile, old apartments remained the dominant segment of the market, with 2,302 units sold, down 8% compared to last year. Despite the decline, the secondary housing market continues to generate the bulk of overall activity.
TBC Capital attributes the monthly sales decrease largely to calendar effects rather than market fundamentals. The report highlights that August 2025 had two fewer working days than the same month last year, reducing the number of official registrations. “The decrease was caused by holidays, and not by a decrease in activity in the real estate market,” the review notes, suggesting that underlying demand remains stable.
In terms of size categories, apartments between 50–75 sq m held the largest share of sales at 45%, an increase from July. By contrast, units larger than 125 sq m remained the least popular, accounting for just 4% of transactions. Price trends also shifted: the share of apartments priced below USD 1,500 per sq m decreased slightly compared to July, while the share of higher-priced units (above USD 1,500 per sq m) rose by five percentage points to reach 33% of total sales, reflecting stronger activity in the premium segment of the market.
