“In projects scheduled for completion in Tbilisi in 2026, 75% of apartments have already been sold,” according to a study by the investment bank and brokerage firm Galt & Taggart.
According to the study’s data, 4,121 apartments were sold in Tbilisi in March 2026:
- In the secondary market, sales grew by 26.9% year-on-year to 2,068 units (+15.1% y/y in the first quarter);
- In the primary market, where sales are affected by registration delays, figures increased by 36% year-on-year to 2,053 units (+16.6% y/y in the first quarter).
The authors of the study explain that a survey of systemic developers was conducted in March 2026, covering more than 100 residential projects under construction in Tbilisi (representing approximately 50% of the primary market in total).
Regarding data for January–March, the study notes that a total of 10,907 transactions were registered in Tbilisi in the first quarter of 2026, and the total value of apartments sold amounted to 958 million US dollars, which is 23.1% higher than the figure for the same period last year.
Furthermore, according to the study, in the first three months of 2026, 70% of the apartments sold were purchased by Georgian citizens; 3% by Russian citizens; 12% by Israeli citizens; and 14% by citizens of other countries.
