What does the premium segment offer at $300,000 and above?
A small, central market with lower yields and fewer buyers. In 2025 only about 1.2% of Tbilisi flat sales, roughly 500 flats, were priced above $3,000 per m², and about 4.4% between $2,001 and $3,000, by our calculation from Galt & Taggart data. Prices concentrate in Vake ($3,180 per m² for new flats in July 2026, up to about $5,750), Mtatsminda and the top of Krtsanisi, where single projects reach $7,500, and in Old Batumi. Gross rental yields there are about 5% to 6%, against 8% to 9% in mass districts. The main reasons to buy at this level are a home in the best locations, scarcity and, above $300,000, the investment residence permit.
The permit itself is explained in our guide to the investment residence permit. This page looks at the premium market as an investment.
How big is the premium market?
| Market and period | Upper-middle segment | Top segment |
|---|---|---|
| Tbilisi, 2025 | About 1,865 ($2,001-3,000 per m²) | About 509 (over $3,000 per m²) |
| Tbilisi, January-July 2026 | About 1,636 | About 436 |
| Batumi, 2025 | About 1,695 ($1,501-2,500 per m²) | About 419 (over $2,500 per m²) |
Two trends stand out. The top segment in Tbilisi is growing: its share of flat sales rose from 0.7% in January-July 2024 to 1.6% in the same months of 2026, and in seven months of 2026 it almost matched the whole of 2025. And it remains small: a few hundred flats a year at the top, against more than 40,000 sales across the city. The bands are prices per m², so a large flat in a mid-priced district can also cost over $300,000; no source counts sales by total price.
Prices at the top
| Category | 2025 | August 2025-July 2026 |
|---|---|---|
| Luxury | 4,088 | 4,270 |
| Premium+ | 2,821 | 3,011 |
| Premium | 2,087 | 2,224 |
| Comfort | 1,439 | 1,514 |
TBC Capital does not publish how it defines each category, but the ranking matches official data. Geostat's median asking prices for new flats in the second quarter of 2026 were highest in Mtatsminda (GEL 6,730 per m²), Vake (GEL 5,914) and Krtsanisi (GEL 4,630), against GEL 3,680 in Samgori. Colliers reported that new-flat prices in central districts rose 14.7% in the year to February 2026, faster than in the wider centre (8.2%) or the suburbs (9.1%). In Batumi, Old Batumi averaged $3,239 per m² for finished flats in June 2026, with individual projects up to about $9,450.
What $300,000 and $500,000 buy
| Price basis | $ per m² | $300,000 | $500,000 |
|---|---|---|---|
| Vake average (new, white frame) | 3,180 | about 94 m² | about 157 m² |
| Mtatsminda average (new, white frame) | 2,945 | about 102 m² | about 170 m² |
| TBC Luxury category | 4,270 | about 70 m² | about 117 m² |
| Top of the Vake range | 5,750 | about 52 m² | about 87 m² |
| Old Batumi average (turnkey) | 3,239 | about 93 m² | about 154 m² |
| Tbilisi city average (new, white frame) | 1,426 | about 210 m² | about 351 m² |
At $300,000 a buyer chooses between a large family flat in a prestige district and a very large flat or several flats in a mid-priced one. The more expensive per m², the smaller the flat and the more the price depends on the specific building, view and finish.
Rents and tenants at the top
Rents per m² are highest in the prestige districts, Vake at $15.1 and Mtatsminda at $13.0 per m² a month in July 2026, but prices are higher still, so gross yields fall to about 5.7% in Vake and 5.3% in Mtatsminda. A 120 m² flat in Vake at the district average rent would let for about $1,812 a month before utilities. Demand for such flats comes largely from foreign employers and their staff: in upscale Tbilisi office buildings, 67% of tenants in 2025 were foreign companies. As one benchmark of what a large foreign employer budgets, the US State Department's housing allowance for its staff in Tbilisi is capped at $22,800 to $29,000 a year depending on family size, including utilities; that is a ceiling for one employer, not a market rent. Our page on commercial yields describes that office demand.
Branded residences
- Trump Tower Tbilisi. Announced in 2026 by Archi Group and INVIA with the Trump Organization as brand partner: a 62-storey tower with about 850 residences next to Tbilisi's Central Park, delivery planned for June 2029, studios from about $290,000 and prices from $7,000 per m², the first of six towers in a planned new district.
- Other projects. Developers have announced further branded projects, including Pullman Residences in Tsikhisdziri near Batumi with Accor, due for completion by the end of 2028, and residences carrying fashion brands at Tbilisi Hills. Some advertise a fixed return for a number of years; treat that as a promise by the developer, not a feature of the brand.
- The premium for a name. At $7,000 per m², Trump Tower Tbilisi is priced at about 1.6 times TBC Capital's luxury average and about 5 times the Tbilisi new-build average. Whether a brand holds its premium at resale has not been tested in Georgia, because the first branded residences are still being built.
Batumi's branded hotel units are a different product, explained in our comparison of aparthotel units and own apartments.
The premium end in Batumi
Batumi's premium market is smaller and more international than Tbilisi's. In 2025 about 2.4% of Batumi flat sales were priced above $2,500 per m², roughly 419 flats, and Old Batumi's new finished flats averaged $3,239 per m² in June 2026, with a range from about $1,710 to about $9,450. The top of the market is concentrated in Old Batumi and in individual seafront towers, where the view and the building decide the price. Half or more of Batumi's buyers are foreign, so premium demand there follows tourism, flights and politics in the source countries more closely than in Tbilisi. Our page on sea-view premiums explains what a view adds and what can take it away.
The investment residence permit
Above $300,000 a further permit becomes available: the investment residence permit, for a foreigner who has invested at least $300,000 or owns real estate, other than agricultural land, worth more than $300,000. It can lead to permanent residence after five years if the conditions continue to be met. It is a niche route: a news report of the Prime Minister's February 2026 statement to Parliament put the number of investment permit holders at 1,347, and of permanent residents on the investment route at 646, out of about 107,000 residence permit holders. As with the $150,000 permit, the valuation, not the price, decides, so leave a margin above the line. Our page on permanent residence explains what follows.
To be added by the team: the partner lawyer to confirm how the agency applies the more-than-$300,000 test to a single high-value flat, and the current conditions for moving to permanent residence.
Selling at the top
The buyer pool shrinks as the price rises. A few hundred top-segment flats sell in Tbilisi each year, about nine in ten buyers in the city are Georgian, and no data show how many of them buy above $300,000 or how long such flats take to sell. Premium flats sell on location, view, building quality and management more than on price per m²: two flats in the same district can differ by thousands of dollars per m², as Vake's range of about $2,000 to $5,750 shows. Expect a longer sale and price it from comparable sales in the same building, not from the district average. Our page on resale liquidity covers the wider market.
What to check in a premium purchase
- The building, not the label. Structure, materials, lifts, parking, security and who manages the building after completion.
- Comparable sales. Registered sales in the same building or street; premium asking prices vary widely.
- The view and what can be built in front of it. Neighbouring plots and planning rules.
- The finish. Whether the price is for white frame, green frame or turnkey, and what the finish includes.
- Brand terms. For branded residences, what the brand licence covers, for how long, and what services owners pay for.
- The valuation. If a permit depends on the purchase, an accredited valuation clearly above the threshold.
Risks and exceptions
- Lower yields. About 5% to 6% gross in the prestige districts.
- Thin buyer pool. A few hundred top-segment sales a year in Tbilisi.
- Untested brand premiums. No branded residence has yet been resold in Georgia.
- Wide price ranges. The building decides the price more than the district.
- Valuation risk. The permit depends on the valuation, not the price paid.
Frequently asked questions
Where is the most expensive property in Tbilisi?
In Mtatsminda, Vake and the top of Krtsanisi, with single projects up to about $7,500 per m².
How many luxury flats sell each year?
About 500 flats above $3,000 per m² in Tbilisi in 2025, by our calculation.
What yield does premium property earn?
About 5.7% gross in Vake and 5.3% in Mtatsminda, against 8% to 9% in mass districts.
What does $300,000 buy in Vake?
About 94 m² of new white-frame space at the July 2026 average.
Does a $300,000 flat give an investment residence permit?
If an accredited valuation puts it above $300,000; leave a margin.
What does Trump Tower Tbilisi cost?
From about $7,000 per m², with studios from about $290,000, delivery planned for June 2029.
Who rents premium flats?
Georgian families and foreign employers' staff; two-thirds of upscale office tenants are foreign companies.
Is premium property easy to sell?
It takes longer; the buyer pool is small and prices depend on the building.
Sources
- Tbilisi Residential Real Estate, July 2026, Galt & Taggart (accessed 19 October 2026)
- Tbilisi Residential Real Estate, 2025 Full Year Overview, Galt & Taggart (accessed 19 October 2026)
- Batumi Residential Real Estate, 2025 Review and 2026 Outlook, Galt & Taggart (accessed 19 October 2026)
- Batumi Residential Real Estate, 2Q26 Overview, Galt & Taggart (accessed 19 October 2026)
- Real estate market sees steady growth in 2025 (TBC Capital data), GBC, February 2026 (accessed 19 October 2026)
- Residential Real Estate in Tbilisi, July 2026 Monthly Watch (in Georgian), TBC Capital (accessed 19 October 2026)
- Residential Property Price Index, second quarter of 2026, Geostat (accessed 19 October 2026)
- Tbilisi apartment market, February 2026 (Colliers data), Georgia Today, 20 March 2026 (accessed 19 October 2026)
- Office Real Estate Market in Tbilisi, Galt & Taggart, May 2026 (accessed 19 October 2026)
- Living Quarters Allowance rates, US Department of State (accessed 19 October 2026)
- Archi Group and INVIA present Trump Tower Tbilisi, Georgia Today, 17 September 2026 (accessed 19 October 2026)
- Trump Tower Tbilisi (developer's page), Archi (accessed 19 October 2026)
- Pullman Residences in Tsikhisdziri, Georgia Today, 26 September 2024 (accessed 19 October 2026)
- Prime Minister on residence permits by type, FrontNews, 18 February 2026 (accessed 19 October 2026)
- Law of Georgia on the Legal Status of Aliens and Stateless Persons (Article 15), Legislative Herald of Georgia (accessed 19 October 2026)
Change log
- - Guide published from Galt & Taggart segment data, TBC Capital categories, Geostat district medians, Colliers, developer announcements and the Aliens Law.