New housing in Tbilisi is becoming more expensive. In the third quarter of 2026, the residential property price index was 5.9 % above the same quarter a year earlier, according to Georgia's statistics office, Geostat. Prices rose 1.5 % compared with the second quarter of 2026, as the latest Geostat data show.
Geostat calculates the index using asking prices on property websites. It covers new apartments and detached houses in Tbilisi, with price movements measured in Georgian currency. The framework is set out in the Residential Property Price Index methodology.
Compared with the 2020 average, the overall index has risen by 66.2 %. Consumer prices increased by 39.6 % over the same period, according to the report on Geostat's figures.
Apartments and Houses Follow Different Trends
Price growth is not evenly distributed across property types. New apartment prices rose 5.6 % year on year in the third quarter of 2026, while new detached houses increased by 7.0 %. The breakdown is published by Geostat.
The comparison with 2020 shows a similar pattern: Detached house prices have risen by more than 72 %, while apartment prices have increased by 63.1 %. This is set out in the report on Geostat data.
Apartments and houses offer buyers different options. Someone seeking more space and a permanent home will assess a detached house differently from a compact apartment for personal use or letting.
Tbilisi's Most Expensive Districts
Price differences between districts are substantial. For new, completed apartments, Mtatsminda and Vake topped the ranking in the third quarter of 2026. The following rounded figures are based on Geostat's published median asking prices.
| District | Approximate price per square metre | Source |
|---|---|---|
| Mtatsminda | GEL 7,004/m² | Geostat |
| Vake | GEL 6,046/m² | Geostat |
| Krtsanisi | GEL 4,635/m² | Geostat |
| Saburtalo | GEL 4,444/m² | Geostat |
| Didube | GEL 4,168/m² | Geostat |
| Chughureti | GEL 4,121/m² | Geostat |
| Isani | GEL 4,032/m² | Geostat |
| Nadzaladevi | GEL 3,932/m² | Geostat |
| Gldani | GEL 3,830/m² | Geostat |
| Samgori | GEL 3,657/m² | Geostat |
Location, infrastructure and proximity to central areas are important selection criteria. Buyers should assess differences between districts against their budget and intended use.
Finishing Standard Has a Strong Effect on Price
Finishing standard also plays a major role. For new apartments, the report on Geostat data gives the following median asking prices, shown here as rounded figures:
- Green Frame: approximately GEL 4,493/m², source.
- White Frame: approximately GEL 3,752/m², source.
- Black Frame: approximately GEL 3,287/m², source.
An apartment's price therefore also depends on its condition at handover. Black Frame may offer a lower entry price but requires additional spending on fit-out, installations and interior finishes. What matters is which works and services the specific contract includes.
What Influences Prices in Tbilisi?
As Georgia's economic, political and cultural centre, Tbilisi offers a range of residential and investment locations. The following factors are particularly relevant when assessing a project:
- Demand: Which target groups are looking for housing at the specific location?
- Migration and urbanisation: How does the offer fit the district's development?
- Modernisation: Which layouts, communal areas and features does the project offer?
- Supply in central locations: Which comparable apartments are available?
- International interest: Is the property also suitable for buyers or tenants from abroad?
What Does This Mean for Buyers?
Rising prices place greater emphasis on careful selection. The purchase price should always be assessed against location, quality, finishing standard, running costs and rental potential. Further appreciation remains a possibility rather than a secured return.
Infrastructure, transport links, employment and long-term use matter to new build buyers. Depending on budget and goals, Saburtalo, Vake, Krtsanisi or other locations near the centre may be options.
For investors, a high price per square metre can be justified if the location and letting prospects support it. A low price alone does not make an apartment a good investment.
Our Approach
Rebuildv reviews new developments in Tbilisi before presenting them to clients. This covers location, developer, construction progress, contractual terms, finishing standard and realistic rental prospects. You receive a sound basis for your decision before choosing a property.
Are you interested in a new build apartment in Tbilisi? Explore our projects or contact Rebuildv. We show you suitable options and review the price, contract and long-term potential in advance.
