Georgia · Market paper 2026-W28
Tbilisi property market: slower growth, wider price gaps
Official growth slowed to 3.0%, while current Mapblip asking-price data show a 92.2% gap between selected Tbilisi market-area medians.
Georgia papers/2026-W28
- Edition
- 2026-W28
- Week ending
- 12 Jul 2026
- Data period
- Q1 2026 · 12 Jul snapshot
- Published
- 15 Jul 2026
Official trend + current market
The figures at a glance.
Scope: Official new-dwelling price movement plus current Tbilisi apartment asking prices.
Official annual growth
+3.0%
Total GeoStat RPPI, Q1 2026 against Q1 2025
Evidence: Residential Property Price Index — Q1 2026Residential Property Price Index — Q1 2025
Current sale median
₾4,302
Per m² across 38,711 eligible apartment groups
Evidence: Week 28 methodology and data cut
Current rent median
₾26.3
Per m² monthly across 56,929 eligible groups
Evidence: Week 28 methodology and data cut
Selected area spread
92.2%
Vake median above Vazisubani in the current snapshot
Evidence: Week 28 methodology and data cut
Mapblip market snapshot
The city median is only the start.
Price distributions, matched advertised yields, apartment-size effects, and source sensitivity from the dated Mapblip cohort.
Price distribution
Current asking prices by market area
For-sale apartments in GEL/m². Lines show P25–P75; dots show medians.
Vake
6,346 · n=3,489
Mtatsminda
6,192 · n=831
Vera
6,014 · n=599
Sololaki
5,817 · n=390
Avlabari
4,973 · n=406
Saburtalo
4,887 · n=7,754
Ortachala
4,703 · n=1,776
Chughureti
4,316 · n=983
Didube
4,274 · n=1,150
Nadzaladevi
4,085 · n=934
Isani
4,019 · n=1,616
Gldani
3,588 · n=1,393
Didi Dighomi
3,473 · n=3,336
Samgori
3,448 · n=678
Varketili
3,382 · n=1,064
Vazisubani
3,301 · n=908
Matched apartment cell
Gross advertised yield
Two rooms, 45–69 m². Annualised rent ask divided by sale ask, before costs and vacancy.
Didi Dighomi
₾3,538/m² · sale n=1,152 · rent n=1,344
7.58%
Samgori
₾3,580/m² · sale n=247 · rent n=411
7.45%
Varketili
₾3,430/m² · sale n=298 · rent n=528
7.40%
Vake
₾6,120/m² · sale n=619 · rent n=1,332
7.33%
Isani
₾4,113/m² · sale n=500 · rent n=779
7.10%
Ortachala
₾4,777/m² · sale n=651 · rent n=948
7.04%
Vazisubani
₾3,490/m² · sale n=284 · rent n=392
6.99%
Gldani
₾3,806/m² · sale n=405 · rent n=822
6.93%
Nadzaladevi
₾4,408/m² · sale n=298 · rent n=886
6.78%
Didube
₾4,755/m² · sale n=310 · rent n=1,087
6.66%
Chughureti
₾4,596/m² · sale n=150 · rent n=374
6.66%
Saburtalo
₾5,357/m² · sale n=1,946 · rent n=3,262
6.58%
Mtatsminda
₾6,330/m² · sale n=94 · rent n=300
6.46%
Avlabari
₾5,391/m² · sale n=101 · rent n=211
6.39%
Sololaki
₾5,759/m² · sale n=75 · rent n=129
6.34%
Vera
₾6,690/m² · sale n=63 · rent n=212
6.31%
Apartment size
Size changes the economics
| Apartment size | Sale groups | Sale median | Rent groups | Rent median | Gross yield |
|---|---|---|---|---|---|
| Under 45 m² | 3,460 | ₾4,460/m² | 6,088 | ₾28.3/m² | 7.61% |
| 45–69 m² | 14,404 | ₾4,255/m² | 23,704 | ₾25.8/m² | 7.28% |
| 70–99 m² | 10,165 | ₾4,144/m² | 14,795 | ₾24.7/m² | 7.15% |
| 100+ m² | 10,682 | ₾4,483/m² | 12,342 | ₾26.4/m² | 7.07% |
Robustness
Source and grouping sensitivity
| Test | Sale median | Move | What it checks |
|---|---|---|---|
| Grouped baseline | ₾4,302/m² | — | Search-eligible canonical groups |
| Direct source rows | ₾4,230/m² | -1.7% | Grouping sensitivity |
| Exclude Korter | ₾4,174/m² | -3.0% | Higher-price source mix |
| Exclude MyHome | ₾4,392/m² | +2.1% | Portal dependence |
| Exclude SS | ₾4,433/m² | +3.0% | Portal dependence |
Data cut 12 Jul 2026, 06:44 UTC. Units are search-eligible deduplicated property groups represented by a canonical listing, not proven unique homes. Prices are advertised asking prices, not transaction prices or valuations.
Bottom line
What the evidence says this week.
These are the main conclusions, with the measurement boundary kept intact.
- 01
Official new-dwelling growth remained positive but slowed sharply: the total annual rate fell from 11.5% in Q1 2025 to 3.0% in Q1 2026.
Evidence: Residential Property Price Index — Q1 2026Residential Property Price Index — Q1 2025
- 02
Current asking-price differences inside Tbilisi are far larger than that annual movement: selected market-area medians range from 3,301 to 6,346 GEL/m².
Evidence: Week 28 methodology and data cut
- 03
Apartments under 45 m² carry a 7.6% asking-price-per-m² premium over 70–99 m² apartments and a 46-basis-point gross advertised yield advantage.
Evidence: Week 28 methodology and data cut
- 04
Matched two-room advertised yields range from 6.31% in Vera to 7.58% in Didi Dighomi before vacancy, costs, tax, financing, or negotiation.
Evidence: Week 28 methodology and data cut
- 05
The city sale median moves by no more than 3.0% when any one contributing portal is removed, but source mix still matters for local comparisons.
Evidence: Week 28 methodology and data cut
Market read
What changed, and what did not.
The interpretation below stays within the coverage of the cited evidence.
01
Growth slowed; the market did not reverse
GeoStat's total Residential Property Price Index rose 1.8% from the previous quarter and 3.0% from a year earlier in Q1 2026. The index stood 62.3% above its 2020 average.
Flats increased 2.0% quarter on quarter and 3.3% year on year. Detached houses increased 1.1% and 1.8% on the same comparisons. The useful signal is slower momentum, not falling prices.
Evidence: Residential Property Price Index — Q1 2026Residential Property Price Index — Q1 2025
02
One Tbilisi median hides two different markets
The current Mapblip sale median is 4,302 GEL/m², but the middle 50% of eligible groups spans 3,481–5,431 GEL/m². The distribution matters more than the headline alone.
Selected area medians range from 6,346 GEL/m² in Vake to 3,301 GEL/m² in Vazisubani, a 92.2% gap. These are Mapblip market-area labels across the broader advertised apartment market, not GeoStat's official new-dwelling district cohort.
Evidence: Week 28 methodology and data cut
03
Smaller apartments ask more per square metre
Sub-45 m² apartment groups have a median sale ask of 4,460 GEL/m², compared with 4,144 GEL/m² for 70–99 m² groups. Their gross advertised yield is also higher: 7.61% against 7.15% using the corresponding rent and sale medians.
The price-per-m² rebound to 4,483 GEL for apartments above 100 m² is consistent with a luxury-location mix. It should not be read as a pure size premium without controlling for location and condition.
Evidence: Week 28 methodology and data cut
04
Advertised yield changes with location
For a tighter comparison, the paper matches two-room apartments between 45 and 69 m². Gross advertised yields range from 7.58% in Didi Dighomi and 7.45% in Samgori to 6.34% in Sololaki and 6.31% in Vera.
Vake is the useful exception to a simple expensive-area-equals-lower-yield rule. Its matched sale ask is 6,120 GEL/m², but a 37.4 GEL/m² monthly rent median keeps the advertised yield at 7.33%.
Evidence: Week 28 methodology and data cut
05
The result survives basic source checks
The grouped sale median is 4,302 GEL/m². The direct eligible source-row median is 4,230 GEL/m², only 1.7% lower. Removing Korter lowers the grouped median by 3.0%; removing MyHome raises it by 2.1%; removing SS raises it by 3.0%.
That does not make every area comparison source-neutral. Korter's primary-record median is 22.2% above SS's, consistent with a different inventory mix. The city-level result is stable enough to publish, but local cells still need sample sizes and source checks.
Evidence: Week 28 methodology and data cut
06
What this paper cannot say yet
Mapblip currently has one complete production daily-history date. That is not enough for an Mapblip quarterly trend, price-cut series, exit rate, survival curve, or time-on-market claim. Those analyses will begin only after a run of complete, comparable archive dates exists.
Condition is available on 10.3% of eligible sale groups, so this edition also withholds Mapblip condition premiums. Asking prices are not completed transaction prices, and a disappeared advertisement does not prove that a property sold.
Evidence: Week 28 methodology and data cut
Methodology & limits
What this paper measures.
A useful market paper says what its numbers cannot tell you.
Method
The official trend comes from Georgia's National Statistics Office. Its Residential Property Price Index is a quarterly hedonic index built from web-scraped GEL offer prices for new dwellings in Tbilisi. The Mapblip snapshot uses fresh, valid, image-backed canonical apartment records eligible for search when the serving dataset was refreshed on 12 July 2026 at 06:44 UTC. Price-qualified groups have an area of 15–500 m², a positive GEL asking price, and a price per m² between 500 and 20,000 GEL for sale or 2 and 300 GEL for monthly rent. Groups are algorithmically deduplicated and are not proven unique homes.
Scope
Official new-dwelling price movement plus current Tbilisi apartment asking prices
This is a research summary, not investment, legal, tax, valuation, yield, or purchasing advice. Mapblip figures describe advertised asking prices in a dated search-eligible cohort, not completed transactions, proven unique homes, or guaranteed availability. External figures may be revised at source.
Sources
Open the evidence yourself.
Official context links to its primary publisher; Mapblip figures use the dated methodology above.
Residential Property Price Index — Q1 2026
Published 23 Apr 2026
National Statistics Office of Georgia
Open →Residential Property Price Index — Q1 2025
Published 23 Apr 2025
National Statistics Office of Georgia
Open →Residential Property Price Index collection
National Statistics Office of Georgia
Open →Official release calendar
National Statistics Office of Georgia
Open →Week 28 methodology and data cut
Mapblip
Open →Residential real-estate price and rent indices
Published 13 Aug 2024
National Bank of Georgia
Open →
Next scheduled source update: GeoStat Q2 2026 Residential Property Price Index on 23 Jul 2026.
From signal to search
Now compare the properties behind the market.
Use the wider signal as context, then inspect current listings, original sources, and comparable asking prices.