According to updated data published on Recov.ge, real estate activity in Tbilisi continued to rise in April 2026. The number of residential property transactions increased by 12.7% year-on-year, reaching 3,603 deals, while the market volume surged by 28.3% to USD 310 million.
Colliers Georgia reports that prices for old apartments grew significantly compared to April 2025: by 11% in the city center, 10% in the wider center, and 6.2% in suburban areas. Overall, prices in old developments increased by 10.6%. New-build prices also rose — up 12.1% in the center, 2.2% in the wider center, and 10.2% in the suburbs. Citywide, the weighted average price for primary transactions increased by 11.2%, while secondary market prices rose by 11%.
New project transactions saw notable growth as well: sales in new developments rose 14.6% year-on-year, with primary market transactions up 10.7% and secondary transactions up 20.4%. Sales of old properties increased by 6.2%.
Leo Chikava, Head of Research and Data Services at Colliers Georgia, told Business Morning that the vast majority of transactions in Tbilisi involve Georgian buyers, with foreign citizens accounting for only 10.7% of April sales. Over the past five years, foreigners’ share has increased from 6% to around 10%, though this remains low compared to Batumi. The strongest demand continues to come from Saburtalo, Didi Digomi and Samgori, while Vake and Mtatsminda remain the most expensive and in-demand districts.
Chikava added that in the first four months of 2026, transactions grew by 15%, while prices for new-builds on the secondary market rose by around 7% year-on-year — slightly below last year’s 8% pace. He noted that unlike Batumi, Tbilisi has a high level of supply: construction activity has increased by about 80% compared to 2021. This helps moderate price growth, preventing sharper increases that typically occur in low-supply markets.
While building permit issuance may appear lower this year, Chikava emphasized that many previously approved projects are still under construction. Therefore, it is too early to make strong assessments about supply trends.
