Apartment rents in Tbilisi rose by 8.6% in September 2026 compared with August, according to business news portal GBC, citing Galt & Taggart. The reported gross rental yield consequently reached 9.4%. At the same time, the number of registered apartment purchases increased compared with the same month a year earlier.
For investors, the report adds to the picture of an active housing market: alongside sales, ongoing rental income and differences between districts are now coming into sharper focus.
Start of the academic year boosts the rental market
The rental analysis covers medium-sized apartments of 50 to 60 m². Applied to a 50 m² apartment, the published figure per square metre equates to a calculated monthly rent of $565.
GBC attributes the sharp increase to seasonal demand at the start of the school and university year. The timeframe therefore matters when interpreting the figures: the 8.6% increase describes the change within a single month. Rental levels in the other months are also relevant for annual planning.
In the regional yield comparison reported by BM.ge, Tbilisi ranks ahead with 9.4%, followed by Yerevan at 7.9% and Baku at 5.1%. The Georgian capital thus also stands out as a rental location compared with its neighbours.
New-build sales grow faster
According to Public Registry data analysed by Galt & Taggart, 4,330 apartments were sold in September, 8% more than a year earlier. Of these, 2,167 were on the primary market and 2,163 on the secondary market.
Registered sales directly from developers saw particularly strong growth, rising by 14.5%. The secondary market recorded an increase of around 2%. According to GBC, delayed registrations also affect the primary market figures.
Large price differences between districts
According to BM.ge, the September data show a wide range of average prices per square metre on the primary market:
| District | Average purchase price |
|---|---|
| Vake | $3,372/m² |
| Mtatsminda | $2,719/m² |
| Vashlijvari | $1,111/m² |
| Didi Dighomi | $1,144/m² |
| Gldani | $1,156/m² |
| Samgori | $1,172/m² |
The portal reports the highest average rents in Vake, followed by Mtatsminda and Saburtalo. For buyers, this distribution makes comparing different locations particularly worthwhile: purchase price and achievable rent belong in the same calculation.
What does this mean for investors?
Gross rental yield expresses annual rent as a proportion of the purchase price. To determine returns after costs, vacancy, management, maintenance and taxes must also be considered. For an apartment that still needs finishing, fit-out and furnishings also form part of the capital invested.
We recommend using the market data as a starting point for comparing properties. What matters is the rent a comparable apartment ready for occupancy achieves in the specific location. Transport links, local amenities and building quality connect tenants' everyday needs with a property's long-term appeal.
Our conclusion
Tbilisi combines rising sales figures with a lively rental market. In our view, this is a positive signal for Georgia as an investment destination: the capital offers investors an active market with a variety of entry opportunities. Where good infrastructure, quality housing and rental demand come together, they create a strong foundation for the long-term appeal and value growth of property.
