The real estate market of Tbilisi has emerged as one of the most active and dynamic sectors in recent years. Since 2020, the city has seen an increase in apartment prices and sales almost every year, driven by several factors: increased demand from the population, the activity of foreign investors, and the rapid development of the development sector.

Apartment prices have increased significantly over the past five years. If in 2020 the average cost of a square meter was $800, today it exceeds $1,300. Suburbs are developing rapidly, where demand often exceeds the center.

The increase in prices is observed equally in both the primary and secondary market segments. However, new projects - with modern infrastructure and services - are much more in demand than old buildings.

The years 2022-2023 were particularly active for the real estate market. The number of transactions in Tbilisi reached record levels, which was partly a result of the post-pandemic recovery and the war in Ukraine. The market has been developing steadily for the past 2 years. New residential complexes have appeared in various districts of the city, offering modern conditions to residents.

In the coming years, the Tbilisi real estate market is expected to enter a relatively stable phase. Prices will continue to grow, although not at the same pace as in previous years. The number of new projects is likely to continue at a moderate pace, and demand will become more differentiated: central districts will still remain a premium segment, while medium and economy class apartments in the suburbs will become a more affordable alternative.

The Tbilisi real estate market has changed significantly over the past five years - both prices and sales volumes have increased. Developers and buyers alike have benefited, but a more sensible and sustainable development of the market in the future requires a focus on quality, infrastructure and long-term strategies.