The third quarter of 2026 in brief
Batumi's flat market slowed in the third quarter of 2026 compared with a year earlier, but held steady against the second quarter. Adding up Colliers Georgia's monthly figures, 4,227 flat transactions were registered from July to September, by our calculation about 9% fewer than in the same months of 2025 but 3.5% more than from April to June. The value of those deals, about USD 280 million, was roughly unchanged on the year, because the average deal got bigger.
This review brings together the latest data from the two firms that track Batumi closely, Galt & Taggart and Colliers, along with figures from the National Bank and the national statistics office. We will update it each quarter. Galt & Taggart's report for the third quarter had not been published by 28 October 2026; last year's appeared in early December, so its figures below are for the second quarter.
Latest figures
| Indicator | Value | Period |
|---|---|---|
| Registered transactions (Colliers) | 4,227 | July to September 2026 |
| Market value (Colliers) | USD 280 million | July to September 2026 |
| Average price of flats in newer buildings (Colliers) | USD 1,408 per m², up 5.2% | September 2026 |
| Foreign buyers (Colliers) | 48% | September 2026 |
| Flats sold (Galt & Taggart) | 4,168, up 3.7% | 2nd quarter 2026 |
| New-build price, finished (Galt & Taggart) | USD 1,960 per m², up 9.8% | June 2026 |
| Resale price (Galt & Taggart) | USD 1,497 per m², up 6.5% | June 2026 |
| Gross rental yield (Galt & Taggart) | 7.1% | June 2026 |
| National Bank policy rate | 8.25%, unchanged | October 2026 meeting |
Sales month by month
Colliers counts every flat transaction registered in Batumi, in both new and older buildings. Its monthly releases for the third quarter show fewer deals than a year earlier in each month, after a second quarter in which every month had grown.
| Month | Transactions | Change on a year earlier | Value |
|---|---|---|---|
| April | 1,292 | +12.3% | USD 85 million |
| May | 1,324 | +2.5% | USD 87 million |
| June | 1,468 | +8% | USD 100 million |
| July | 1,378 | -11.8% | USD 92 million |
| August | 1,235 | -4.3% | USD 81 million |
| September | 1,614 | -10.4% | USD 107 million |
The fall is not what it first looks like. Colliers explains each month's drop by a high base: in July, August and September 2025, several large projects registered big batches of flats at once, as developers handed them over. It warns that registered transactions alone cannot measure demand. In September 2026 the average deal was about USD 66,300, up 12.6%, which is why the market value held up while the number of deals fell. From January to September, by our sum, 12,065 transactions worth USD 787 million were registered.
New flats from developers and resales
The split between the two markets moved sharply. Registered sales by developers fell by 32.8% in July, 24.2% in August and 38% in September, while resales of flats in newer buildings rose by 19.1%, 15.1% and 27.3%. Sales of older flats also recovered, up 31.4% in August and 8.8% in September after falling in the spring.
Galt & Taggart's second-quarter data point the same way. Registered resales rose 13.4% to 2,200, while registered developer sales fell 5.3% to 1,968, held back by late registrations. The firm's own survey of developers, which counts contracts when they are signed, showed sales up 35.1% on the year. That gap is why registry figures for new flats always lag: a flat bought off plan is registered only when the building is finished. Our guide to new build or resale compares the two choices.
Prices: two measures, two levels
Two price series are quoted for Batumi, and they should never be mixed. Colliers gives a weighted average of all transactions in newer buildings, about USD 1,400 per m² in the third quarter. Galt & Taggart gives the price of finished new flats sold by developers, USD 1,960 per m² in June 2026. The first includes cheaper resales and unfinished flats; the second is for flats ready to move into.
On Colliers' measure, price growth cooled. The average price in newer buildings rose by 11.3% on the year in April, 8.7% in May and 22% in June, but by -0.1% in July, 1.2% in August and 5.2% in September. Part of this is again a base effect: Colliers says that excluding one expensive project registered a year earlier, developer prices rose 1.2% in August and 4.6% in September. There is no official price index for Batumi; the national statistics office's index covers new flats in Tbilisi only.
Who is buying
Foreign buyers made up 48% of registered transactions in July, 52% in August, when they outnumbered Georgians, and 48% in September, according to Colliers. Galt & Taggart's developer survey, which covers new flats only, shows a higher foreign share, 67% in the first half of 2026, by our sum of its figures.
| Citizenship | 2025 | 1st half 2026 |
|---|---|---|
| Georgia | 43% | 33% |
| Ukraine, Russia and Belarus | 13% | 18% |
| Europe | 15% | 15% |
| Israel | 13% | 10% |
| Arab countries | 4% | 7% |
| Turkey | 4% | 5% |
| Others | 9% | 12% |
The two measures differ because Colliers counts all registered deals, including Georgians buying older flats to live in, while the survey covers investment-heavy new projects. Our guide to Batumi for the Jewish community and our guide to Batumi for Arab families look at two of these groups in detail.
Supply and unsold stock
Galt & Taggart still sees the market as oversupplied. Its second-quarter report says unsold stock stays high, "indicating oversupply pressures", and that demand for new flats remains well below the boom years of 2022 and 2023. In its July 2026 survey of more than 30 projects, 74% of flats in buildings due in 2026 were sold, but only 60% in those due in 2027 and 55% in those due in 2028 and 2029.
Completions are rising. The national statistics office reported that Adjara commissioned 50 buildings with 368,970 m² of floor space in the first half of 2026, 72% more than a year earlier, and Adjara received 7.6% of Georgia's 5,391 building permits. For the projects behind these numbers, see our guide to Batumi's megaprojects.
Rents and yields
Short-let income has softened. Galt & Taggart measured the average daily rate for flats with up to two bedrooms at USD 34.6 in the second quarter, down 4.2%, after a fall of 7.3% in the first quarter. The gross rental yield was 7.1% in June 2026, down from 7.4% in 2025 and 8.8% in 2024, because prices have risen faster than rents. Among 11 resort cities in the firm's comparison, only Dubai, at 8.5%, had a higher yield; Limassol had 7.0% and Antalya 6.9%.
Long-term rents in the same report were about USD 12.3 per m² a month on the New Boulevard, 11.9 in Old Batumi and 10.6 in the inner and outer districts. Estimates of the number of short-let listings vary widely by provider, from about 3,500 to almost 10,000, so we do not quote them. Third-quarter rent data were not yet published; our guide to Batumi's seasons shows how income moves through the year.
Interest rates and mortgages
The National Bank kept its policy rate at 8.25% in September and again at its October 2026 meeting, with inflation at 5.6% in September against a target of 3%, and raised its inflation forecast for 2026 to 5.4%. Cheaper money is not in sight. In July 2026 new mortgages in lari cost 11.4% on average and those in foreign currency 7.7%; from January to July banks issued 34,482 new mortgages, 20.7% more than a year earlier. Our guide to mortgages for foreigners explains who can borrow.
Tourism, the demand behind the rents
Visitor numbers matter because most new Batumi flats are bought to let. In the second quarter of 2026 Georgia received 1.3 million international visitors, 5.2% fewer than a year earlier, and Adjara recorded 621,300 visits, second only to Tbilisi, according to the national statistics office. Figures for the third quarter, Batumi's busiest, had not been published by late October; in the same quarter of 2025 Adjara had 1,274,400 visits.
What changed since the previous quarter
- Volume: up 3.5% on the second quarter, down about 9% on a year earlier, by our sums of Colliers data.
- Mix: resales rising every month, developer registrations falling against a high 2025 base.
- Prices: annual growth slowed from between 8.7 and 22% in the spring months to between -0.1 and 5.2% in the summer months, on Colliers' measure.
- Buyers: foreigners at 48 to 52% of deals, slightly up on the spring.
- Money: policy rate unchanged at 8.25%, inflation at 5.6%.
- Supply: more completions and high unsold stock, according to Galt & Taggart.
To be added by the team: update this page when Galt & Taggart publishes its third-quarter 2026 report and the national statistics office releases third-quarter tourism data; add a chart of quarterly transactions once four quarters are on the page.
Reading the Batumi market step by step
Check the source
Colliers registry data or a developer survey.
Compare like with like
Same measure, same period.
Look for base effects
Bulk registrations a year earlier.
Separate new and resale
They often move in opposite directions.
Watch yields, not only prices
Rent growth versus price growth.
Follow the rate decisions
National Bank meetings and inflation.
Frequently asked questions
How many flats were sold in Batumi in the third quarter of 2026?
4,227 registered transactions, by our sum of Colliers' monthly figures.
Did Batumi sales fall in 2026?
Registered deals fell about 9% on a year earlier in the third quarter, mainly because of bulk registrations in 2025.
What does a flat cost per m² in Batumi?
About USD 1,400 on Colliers' all-deals measure; USD 1,960 for finished new flats on Galt & Taggart's.
What share of buyers are foreign?
48 to 52% of registered deals in the third quarter, according to Colliers.
What is the rental yield?
7.1% gross in June 2026, according to Galt & Taggart.
Is there an official price index for Batumi?
No; the national index covers new flats in Tbilisi only.
What is the National Bank rate?
8.25%, unchanged at the October 2026 meeting.
When will this review be updated?
After Galt & Taggart's third-quarter report, expected around early December.
Sources
- Apartment sales in July, 3 September 2026, and sales rise in Tbilisi, fall in Batumi, 20 October 2026, International Investment, citing Colliers Georgia
- 1,235 apartments sold in Batumi in August, 23 September 2026, and demand and prices in April, 19 May 2026, BM.ge, citing Colliers Georgia
- Batumi market grows to USD 87 million, GBC, June 2026, and regional review, Homesoverseas, 24 August 2026
- Batumi residential real estate, 2nd quarter 2026, Galt & Taggart, 14 August 2026
- Sector snapshot: Batumi residential real estate, Investor.ge, citing Galt & Taggart, 20 April 2026
- Residential property price index, 2nd quarter 2026, 23 July 2026, and building permits and completions, January to June 2026, 30 July 2026, National Statistics Office of Georgia
- Georgia commissions 1.5 million m² in the first half of 2026, Georgia Today, 30 July 2026
- Policy rate unchanged at 8.25%, National Bank of Georgia, 9 September 2026, and October rate decision, Trading Economics, 21 October 2026
- Mortgage lending in Georgia, International Investment, citing National Bank data, 8 September 2026
- Inbound tourism statistics, 2nd quarter 2026, 30 July 2026, and 3rd quarter 2025, National Statistics Office of Georgia
Change log
- - Data page published from Colliers Georgia via International Investment, BM.ge and GBC, Homesoverseas, Galt & Taggart, Investor.ge, the National Statistics Office of Georgia, Georgia Today, the National Bank of Georgia and Trading Economics.