Colliers counted more than 59,000 apartment sales in Georgia’s two main cities in 2025, with foreign buyers putting most of their money into new projects. What the figures mean for anyone buying with residence in mind.
Georgia’s housing market has just posted its strongest year on record. According to figures published this week by Colliers Georgia, the local office of the international real estate adviser, buyers spent about US$4.3 billion on apartments in Tbilisi and Batumi during 2025, across more than 59,000 sales. The number of transactions rose by roughly 7 percent on 2024, while the money involved grew considerably faster.
For foreigners, the detail behind the headline matters more than the total. It shows where buyers are concentrating, what they are paying per square metre, and why new buildings now dominate foreign demand.
When value grows several times faster than volume, as it did in Tbilisi, it usually means buyers are paying more per unit, buying larger units, or both. Colliers attributes most of the growth to the primary market, meaning sales by developers, often of apartments that are still under construction, as opposed to the secondary market, where existing owners resell.
In Tbilisi, apartments in new projects averaged about US$1,484 per square metre, against about US$1,244 in older buildings. In Batumi, resale prices averaged about US$1,497 per square metre in new projects and about US$1,196 in older ones.
Foreign buyers show a clear preference. In Tbilisi, 86 percent of their purchases were in new projects, and their share of the resale market has grown by about 6 percentage points since 2021. In Batumi, Georgian buyers made up 51 percent of resales in new projects in 2025, a share that has fallen since 2021 as interest from Russian and Ukrainian citizens has grown.
For income seekers, reported rental yields remain healthy by regional standards. Figures cited by Investor.ge in October 2025, based on data from early that year, put the average gross yield in Tbilisi at about 7.8 percent, with most apartments between roughly 5.6 and 8.7 percent. Gross yield is annual rent divided by the purchase price, before management fees, vacancies, repairs and tax, so the net return is lower.
New buildings tend to offer what international buyers look for: modern layouts, lifts, parking, security and developer payment plans that spread the cost over the construction period. Many are also easier to let to tenants who expect contemporary finishes.
The trade off is that a purchase in a building that is not yet finished depends on the developer completing it on time and to the agreed standard. The construction permit, the developer’s record on earlier projects, the payment schedule and the point at which ownership is registered in the buyer’s name all deserve attention before any money changes hands.
Since 2019, foreigners who own non agricultural property in Georgia worth at least US$100,000 at market value have been able to apply for a renewable temporary residence permit covering themselves and their immediate family. Georgia has announced that the threshold will rise to US$150,000 from 1 March 2026. The figure that counts is market value as assessed by an appraiser accredited by the Unified National Accreditation Body, the state agency that licenses valuers, and several registered properties can be combined to reach it.
The Colliers figures help put the new threshold in context. At the average Tbilisi price for new projects, US$150,000 corresponds to an apartment of roughly 100 square metres. In practice, buyers aiming for the permit should leave a margin: a valuation can come in below the price paid, particularly for units bought from a developer at a premium.
A busy market is a good market for sellers and a demanding one for buyers. Before committing, it is worth checking:
Our real estate due diligence service covers these checks in Georgia, with a written report before you commit. If the purchase is part of a residence plan, our Georgia residency program explains the route in full. We help clients apply, work with our local team, and quote fixed fees in writing.
This article is general information, not legal, tax or investment advice.
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