Tbilisi Apartment Rents Drop 11% Annually Amid Rising Property Sales – TBC Capital Review
According to the latest monthly review by TBC Capital, the residential real estate market in Tbilisi reached $264 million in June 2025 — a 19% year-on-year increase, though down 4% compared to the previous month.
In total, 3,236 apartments were sold in Tbilisi during June, marking an 11% increase over June 2024, largely attributed to a low base effect. However, compared to May 2025, the number of transactions declined by 2%.
The average selling price rose to $1,269 per square meter, up 8% year-on-year, and showing a slight 0.2% monthly increase.
In contrast, rental prices decreased by 11% year-on-year, falling to an average of $10.4 per square meter.
Construction Activity and Market Supply
In the first six months of 2025, construction permits were issued for 697,000 square meters of residential space — a 17% increase compared to the same period last year, suggesting a rise in potential future supply.
New vs. Old Apartment Sales
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In June 2025, 680 new apartments were sold, reflecting a 10% year-on-year growth.
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2,556 old apartments were sold, a 12% increase year-on-year.
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The share of new apartments in total sales rose to 21%, up from previous months.
Sales by Size and Price Segment
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44% of all transactions involved apartments sized 50–75 sq.m., remaining the dominant category.
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Apartments over 125 sq.m. accounted for just 4% of sales.
The share of apartments priced above $900 per sq.m. has grown notably, while those below this threshold have seen a 14 percentage point decline in sales share compared to the same period in 2024. Properties in the premium segment (above $1,500 per sq.m.) now represent 28% of all transactions — a 6 percentage point increase year-on-year.
