Demand in Tbilisi’s real estate market remains strong, with sales increasing on both the primary and secondary markets in the first seven months of 2026. According to Zuka Tavkhelishvili, head of sector research at Galt & Taggart, secondary-market sales rose by 17% year-on-year, while primary-market sales increased by 30%.
Tavkhelishvili said the growth is driven by positive buyer sentiment and favorable macroeconomic conditions, including the strengthening of the Georgian lari and lower interest rates. Falling mortgage rates have made home purchases more affordable, while lower deposit returns have increased the investment appeal of real estate.
The share of local buyers fell from 85% in 2023 to 74%, but Tavkhelishvili stressed that this does not mean fewer homes are being sold to Georgians. Rather, transactions by foreign buyers are growing faster, increasing their overall share. Local residents still account for around 80% of apartment buyers in Tbilisi, while foreign interest is also rising in Tbilisi, Batumi and new markets.
Galt & Taggart’s survey covers major developers representing about half of the primary market, meaning their foreign-buyer share may be somewhat higher than the overall market. The total value of apartments sold in Tbilisi reached $2.45 billion in January-July 2026, up 27.3% from $1.92 billion a year earlier.
