Georgia's capital and primary economic hub; a diversified year-round market averaging USD 1,312/sqm for new-builds with ~7.78% gross rental yields.
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Tbilisi, Georgia
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Tbilisi is the capital, largest city, and primary economic driver of Georgia, situated along the Kura (Mtkvari) River. It offers a stable, year-round real estate market supported by digital nomads, expatriates, and university students. Foreign nationals buy freehold property with identical rights to Georgian citizens (agricultural land excepted). In 2025, average new-build apartment prices reached roughly USD 1,312 per sqm, with prime central areas like Vake and Saburtalo trading at higher premiums. Gross rental yields averaged approximately 7.78% in early 2025, with select outer districts exceeding 10%. Property purchases from USD 100,000 qualify buyers for Georgia’s renewable temporary residence permit.
Tbilisi is the capital and largest city of Georgia, with a population of around 1.26 million. It sits on the banks of the Mtkvari River and combines historic architecture in the Old Town with Soviet-era districts and modern residential developments.
What sets Tbilisi apart from many regional cities is the stability of rental demand. The tenant base includes young professionals, students, expats, diplomats and a fast-growing tech workforce that expanded significantly after 2022. This creates consistent year-round occupancy, unlike resort markets.
In 2024, 40,350 apartments were sold in Tbilisi, the highest annual volume on record, accounting for around 72% of all residential transactions in Georgia. New-build prices rose 4.1% year on year to an average of USD 1,312 per sqm. TBC Capital forecasts price growth of around 3.2% in 2026, with overall market volume expected to expand by 4.5%.
Prices vary significantly across districts, from under USD 700 per sqm in outer residential areas to over USD 2,500 in premium hillside locations. The table covers the main investment districts, based on 2025 transaction data.
Metropolitan Insight: Chughureti saw the strongest district performance, with 28.3% price growth in Q1 2025, the highest in the city (Geostat). Old Tbilisi and Abanotubani followed closely, supported by heritage appeal and short-term rental demand. Entry prices in both areas remain around USD 1,000-1,500 per sqm.
Average gross rental yields in Tbilisi stood at 7.78% in Q1 2025, moderating to 7.42% by Q1 2026 as purchase prices rose faster than rents (Global Property Guide). Outer districts tend to deliver higher yields due to lower entry prices, while central locations offer stronger capital stability and tenant quality.
Yield versus capital growth: outer districts (Didi Dighomi, Gldani) deliver the highest gross yields but lower short-term capital appreciation and less resale liquidity. Premium districts (Vake, Mtatsminda) offer stronger long-term capital growth and easier resale but lower yields. Saburtalo is the middle ground, the most liquid district by transaction volume.
Tbilisi’s districts differ in character, price, tenant profile and investment logic:
Vake. Tbilisi’s most prestigious district, centred around Chavchavadze Avenue and Vake Park. Home to diplomats, expats and senior professionals, with strong capital stability and easy resale.
Saburtalo. The most active district by transaction volume, with strong infrastructure and metro access. Popular with students, IT workers and expats, with high and consistent rental demand.
Old Tbilisi / Abanotubani. The heritage centre with bathhouses, cobblestone streets and restored courtyard homes. Strong tourism-driven short-let demand and fast price growth.
Chughureti / Marjanishvili. A fast-developing district with cafes, bars, boutique hotels and the Fabrika creative hub. Popular with young professionals and creatives, with gross yields of around 6-7%.
Vera. A quiet, central neighbourhood between Vake and Rustaveli with strong appeal for long-term expats and families. Gross yields of around 5.5-6.5% and stable long-let demand.
Didi Dighomi. The most affordable major district, with new developments, improving infrastructure and strong long-let demand from local professionals. A metro extension is underway to improve connectivity.
Tbilisi is a compact, walkable city with a UNESCO-listed Old Town, historic sulphur baths, medieval fortresses and a well-known natural wine tradition, alongside a growing nightlife and creative scene.
Tbilisi International Airport operates year-round routes to over 40 destinations. Within the city there is a metro network of two lines, a bus system and widely available ride-hailing. Tbilisi’s time zone (UTC+4) is the same as Dubai, which makes same-day communication with tenants and managers practical for remote investors.
Data sources: TBC Capital Real Estate Report 2025; Galt and Taggart Georgia Residential Property Report 2024-2025; Global Property Guide; Colliers Georgia (December 2025); NAPR; Georgian Revenue Service. Last reviewed April 2026.
Capital city of Georgia, featuring an international airport, 2-line metro network, and major highway links.
• Tbilisi International Airport (20 min drive) — primary international airport of Georgia
• Tbilisi Metro Network (10 min walk) — 2-line rapid transit system connecting Saburtalo to Old Town
• Right Bank Expressway (5 min drive) — primary highway running along the Kura River
• Tbilisi International Airport: 20 min
• Rustaveli Avenue: 10 min
• Freedom Square: 10 min
• Old Tbilisi: 12 min
• Narikala Fortress: 12 min
Booming student rental market driven by top state and international universities.
• Ivane Javakhishvili Tbilisi State University (10 min drive) — historic leading higher education campus
• QSI International School of Tbilisi (15 min drive) — American international school campus
• British International School of Tbilisi (15 min drive) — UK curriculum school
High concentration of modernized private hospital networks and specialized medical centers.
• Evex Medical Corporation Hospitals (10 min drive) — nationwide private healthcare network
• MediClubGeorgia (10 min drive) — international standard medical clinic with 24/7 emergency
• Todua Clinic (12 min drive) — advanced diagnostic and medical center
Home to historic 6th-century basilicas and monumental Orthodox cathedrals shaping the city skyline.
• Holy Trinity Cathedral (Sameba) (10 min drive) — iconic third-tallest Eastern Orthodox cathedral in the world
• Anchiskhati Basilica (12 min drive) — historic 6th-century stone church in Old Tbilisi
• Metekhi Church (10 min drive) — landmark church perched above the Kura River
Strong real estate demand in downtown sectors anchored by high-end shopping malls and pedestrian avenues.
• City Mall Saburtalo (12 min drive) — modern shopping center with international fashion brands and hypermarket
• Galleria Tbilisi (10 min drive) — downtown mall on Rustaveli Avenue with shopping and theater
• East Point Mall (15 min drive) — open-air retail and entertainment complex
• Tbilisi International Airport: 20 min
• Rustaveli Avenue: 10 min
• Freedom Square: 10 min
• Old Tbilisi: 12 min
• Narikala Fortress: 12 min
Exceptional residential appeal in green diplomatic quarters near Turtle Lake, Tbilisi Sea, and Mtatsminda.
• Rike Park & Aerial Tramway (10 min drive) — central park with cable car access to Narikala Fortress
• Turtle Lake (Kus Tba) (15 min drive) — mountain lake surrounded by hiking trails and outdoor cafes
• Tbilisi Sea & Gino Paradise (20 min drive) — large reservoir featuring aqua park and beach clubs
High year-round tourist rental yields driven by Old Town wine bars, historic sulfur baths, and theaters.
• Shardeni Street Nightlife (12 min drive) — historic pedestrian district with wine bars, cafes, and clubs
• Rustaveli Theatre District (10 min drive) — home to Rustaveli Opera and National Theatre
• Funicular Complex (15 min drive) — landmark Mtatsminda mountain restaurant with panoramic city views
ARCHI appears to be associated with a large developer of the same name based in Georgia that has signalled entry into the Dubai market. We could not verify an established, standalone Dubai developer named ARCHI with a confirmed founding year and delivered UAE projects.
Mira Developments is a boutique Dubai developer specialising in fully furnished residences created with global luxury and design brands such as Bentley Home and Trussardi. Its projects include Mira Villas, designed by Bentley Home, and Trussardi Residences in Al Furjan.
Eagle Hills is an Abu Dhabi-based private developer founded in 2014 by Mohamed Alabbar, focused on large-scale mixed-use waterfront destinations across emerging markets - including Belgrade Waterfront in Serbia, Maryam Island in Sharjah and projects in Georgia, Jordan and beyond.
The market is predominantly apartments — studios and 1, 2, and 3-bedroom units across new-build and secondary stock. Typical new-build apartments range from 35 to 120 sqm. Heritage properties in the Old Town and Sololaki include larger courtyard homes and renovated historic buildings. Standalone houses exist in outer districts but are less common as investment stock. Most investor purchases are 1 or 2-bedroom apartments in central or mid-ring districts.
Vake and Saburtalo represent prime central markets trading well above the city-wide average of USD 1,312 per sqm.
The most affordable districts are Didi Dighomi ($650–1,000 per sqm), followed by Gldani and Samgori ($700–950 per sqm). These areas are still developing and tend to deliver the highest yields, with Didi Dighomi reaching up to 10.18% gross. Saburtalo sits in the mid-range ($1,000–1,580 per sqm) and offers strong liquidity and easier resale.
Didi Dighomi leads with gross yields of 7–10%+ depending on unit size (Global Property Guide; Cushman & Wakefield Georgia), followed by Isani, Gldani, and Nadzaladevi. Premium districts such as Vake and Saburtalo offer lower yields but stronger tenant quality and more stable capital values.
Yes. Foreign nationals can freely buy, own, and sell property in Georgia with no restrictions. Ownership is registered at the National Agency of Public Registry (NAPR) using a blockchain-based system that can be verified online for 1 GEL (~$0.37). There is no minimum investment requirement.
Rental income is taxed at a flat 5% for registered landlords. Capital gains are 0% after a 2-year holding period. There is no property transfer tax or stamp duty. Annual property tax ranges from 0–1%, depending on value and municipality. Full details are available through the Georgian Revenue Service.
After agreeing on terms, a preliminary agreement is signed and registered at NAPR within 1–4 business days (fee: 50–200 GEL). Legal and notary costs typically range from $200–500. Off-plan purchases usually follow developer payment plans, with 20–30% down and the balance paid over 2–5 years at 0% interest.
Tbilisi is compact, walkable, and known for its café culture, restaurants, and natural wine scene. Monthly living costs for a single person typically range from $1,000–2,000. English is widely used in business and hospitality, supported by a growing expat and digital nomad community. The city also offers international schools, private healthcare, and co-working spaces. Citizens of the UAE, UK, EU, and US can stay visa-free for up to 365 days.
Yes. Purchasing property in Tbilisi valued at the GEL equivalent of $150,000 or more qualifies you to apply for Georgia's Investment Residence Permit — a 1-year renewable permit covering you, your spouse, and dependent children. A $300,000 investment qualifies for a 5-year permit with a path to permanent residency. The property just needs to be registered in your name at NAPR.
Yes. Georgia consistently ranks as one of the safer countries in the region. Tbilisi has a low rate of violent and street crime relative to most European capitals. The city has a large expat and tourist population and is generally considered safe to walk at night in central districts. Standard urban precautions apply as in any large city.
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