Methodology
This tracker logs, month by month and edition by edition, the published figures on who buys flats in Tbilisi and Batumi. Each number keeps its source, its period and its date. The background, the 2020-2024 history and what the buyer mix means for an investor are in our foreign buyer statistics; this page only keeps the dated readings and explains how they are made.
| Measure | Who is counted | Base | How often | Restated? |
|---|---|---|---|---|
| Colliers Georgia: share of all sales | Buyers by citizenship | Every registered flat sale in the city, new and old buildings, developer sales and resales | Monthly since April 2026, plus half-year figures | Not so far |
| Galt & Taggart (G&T): developer survey | Buyers by citizenship | Flats sold by surveyed developers only, counted when the contract is signed; about half of Tbilisi's developer (primary) market and about 40% of Batumi's | Tbilisi monthly, from January to date; Batumi quarterly | Yes, in every edition |
| National Bank of Georgia (NBG) | Non-residents, by residence | Not defined | One figure, in a yearly report | Not known |
| Public Registry (NAPR) and Ministry of Justice | Owners or buyers by citizenship | Registrations for the whole country, released only on request | None after November 2023 | No |
Citizenship is not residence. Colliers, G&T and the registry sort buyers by passport: a foreigner living in Tbilisi counts as foreign, and a Georgian living in Berlin counts as Georgian. The NBG speaks of non-residents, which is a different group. None of the publishers says how it treats people with two citizenships.
Which edition. G&T revises earlier years each time its sample grows. Batumi's 2025 foreign share was 77% in the 3Q25 edition (20 projects), 52% in the 2025 review, 56% in the 1Q26 edition and 57% in the 2Q26 edition. Our rule: each table uses one edition, named in its caption, and we never join figures from different editions into one line. The data file keeps all of them.
Gaps. Colliers' Recov platform carries no monthly foreign share for any month of 2024 or 2025. For 2026 it starts with April; for January to March Tbilisi has none, and Batumi has only remarks on newly built flats for January and February. Colliers and G&T cover Tbilisi and Batumi only, so nothing here describes Kutaisi, Bakuriani, Gudauri or Georgia as a whole.
Monthly noise. Off-plan flats reach the registry when a building is finished, often many at once; Colliers explained a 55.6% jump in Batumi developer sales in January 2026 this way. A single month's share can therefore move for reasons unrelated to demand.
Labels. "Our arithmetic" and "estimate" mark figures we worked out; "media" marks a Colliers figure found only in a news report.
Latest readings on 2 November 2026
Each newest figure covers a different period, so read the rows one by one.
| Measure | Period | Reading | Published |
|---|---|---|---|
| Colliers, Tbilisi: foreign share of all flat sales | September 2026 | 12% | Recov, October 2026 |
| Colliers, Batumi: foreign share of all flat sales | September 2026 | 48% | Recov, October 2026 |
| G&T, Tbilisi: foreign share of surveyed developer sales (100 minus the Georgian share) | January-August 2026 | 26% | 23 October 2026 |
| G&T, Batumi: the same measure | January-June 2026 | 67% | 14 August 2026 |
| NBG, Batumi: non-residents' share of demand | June 2025 | nearly 40% | December 2025 |
| Ministry of Justice, Georgia: flats bought by Russian citizens (media) | January-November 2023 | 5,784 | December 2023 |
In September roughly one Tbilisi flat sale in eight went to a foreign citizen and nearly one in two in Batumi. Among the developers G&T surveys, foreigners took about a quarter of Tbilisi sales and two thirds of Batumi sales. The gap between the two bases is expected: foreign buyers mostly buy new flats from developers.
Next update. We plan to update this page after Colliers' next monthly item, for October 2026, appears on Recov; recent months have appeared there during the following month. G&T's September report for Tbilisi and its third-quarter overview for Batumi were not out on 2 November 2026 and will be added when published.
Colliers: foreign citizens' share of all flat sales, by month
Colliers Georgia publishes a short statement on each city's registered flat sales on Recov, its open data platform, which allows reuse with credit. Since its April 2026 statements these give the share of buyers who are foreign citizens. For Batumi some months also give the Georgian share.
| Period | Tbilisi, foreign | Batumi, foreign | Batumi, Georgian | Recov item |
|---|---|---|---|---|
| April 2026 | 10.7%* | 47% | - | 499, 496 |
| May 2026 | 11.4%* | 49% | - | 503, 507 |
| June 2026 | 10% | 47% (media) | - | 510 |
| July 2026 | 12% | 48% | 50% | 524, 527 |
| August 2026 | 14% | 52% | - | 531, 534 |
| September 2026 | 12% | 48% | - | 538, 541 |
| First half of 2026 | 10% | 45% | 50% | 517, 521 |
| First half of 2025 | 10%, implied | Not given | - | 517 |
* In the April and May statements for Tbilisi, the foreign share (10.7% and 11.4%) is exactly the growth rate of developer sales given earlier in the same statement. This may be a slip in Colliers' text, which we could not confirm either way. Until Colliers confirms the values, read both months as "about 11%".
Tbilisi stayed between 10% and 14%, with August the highest month so far. Colliers said the first-half share of 10% was unchanged from a year earlier, and that September was slightly above September 2025.
Batumi moved between 47% and 52%. In August, foreign citizens bought more flats than Georgians, as Colliers' own text says; the claim in some news reports that this happened "for the first time" is not in that text. In July and the first half of 2026 the foreign and Georgian shares add up to 98% and 95%. Colliers does not explain the rest, which may be companies or buyers of unknown citizenship.
Where the growth came from. By Colliers' figures, foreign buyers accounted for 90% of Batumi's increase in sales on a year earlier in April, 59% in May and 83% in the first half. In February their purchases of newly built flats were up on a year earlier by 53.9% from developers and by 47.6% in resales.
Which countries: G&T's survey of developer sales
Only G&T publishes a regular split by country, for its surveyed developers only, and each table below comes from one edition. In Batumi it groups Ukraine, Russia and Belarus together.
| Period | Georgia | Israel | Russia | Other | All foreign |
|---|---|---|---|---|---|
| 2023 | 85% | 4% | 5% | 6% | 15% |
| 2024 | 79% | 10% | 2% | 9% | 21% |
| 2025 | 76% | 10% | 3% | 11% | 24% |
| January-August 2026 | 74% | 11% | 5% | 11% | 26% |
| Period | Georgia | Ukraine, Russia, Belarus | Europe | Israel | Arabic countries | Turkey | Others | All foreign |
|---|---|---|---|---|---|---|---|---|
| 2024 | 31% | 16% | 19% | 12% | 5% | 6% | 11% | 69% |
| 2025 | 43% | 13% | 15% | 13% | 4% | 4% | 9% | 57% |
| January-June 2026 | 33% | 18% | 15% | 10% | 7% | 5% | 12% | 67% |
Tbilisi. The foreign part of surveyed sales rose from 15% in 2023 to 26% in the first eight months of 2026, in the August 2026 edition. Israeli citizens remain the largest named group; the Russian share went up from 3% in 2025 to 5%.
Batumi. In the 2Q26 edition two in three surveyed flats sold in the first half of 2026 went to foreign citizens, against 57% in 2025. The 3Q25 edition, based on 20 projects and January to August 2025, gave a finer split: Ukraine, Russia and Belarus 20%, Israel 16%, Europe 12%, Turkey 9%, Arabian countries 7%, Central Asia 6%, Armenia and Azerbaijan 2%, the Far East 1% and others 4%, with Georgians at 23%. Its sample was smaller, so it is not a point on the same line.
All sales by country. Colliers has given a country split of all sales only once, in remarks by its head of research reported by Commersant on 2 December 2025, with no period stated (media): in Tbilisi 90% Georgian citizens, 4% Israeli and 2% Russian; in Batumi 50% Georgian, 16% Russian and 9% Ukrainian. These foreign shares are lower than G&T's because foreign buyers mostly buy from developers.
Counts: the last official numbers and our estimates
Shares say nothing about how many flats foreigners bought. The registry is the only source with both numbers, and the latest count we found ends in November 2023. The nationality totals for 2022 and the first quarter of 2023 released by the Ministry of Justice are on our foreign buyer statistics page; the table adds two documents from the parliament's website and a later reply reported in the press, all for Russian citizens only.
| What was counted | Period | Number | Document |
|---|---|---|---|
| Flats and other residential units with ownership registered to Russian citizens | 13 October 2022 - 26 April 2023 | 4,745 | NAPR letter, 17 May 2023 |
| Russian citizens registered as their owners | 13 October 2022 - 26 April 2023 | 3,878 | NAPR letter, 17 May 2023 |
| Floor area of residential units registered to Russian citizens | 1 March 2022 - 26 April 2023 | 424,450 m² | NAPR letter, 17 May 2023 |
| Flats bought by Russian citizens | 2022 | 6,062 | Explanatory note, 5 May 2023 |
| Russian citizens who bought them | 2022 | 4,520 | Explanatory note, 5 May 2023 |
| Flats bought by Russian citizens | January-March 2023 | 2,187 | Explanatory note, 5 May 2023 |
| Russian citizens who bought them | January-March 2023 | 1,679 | Explanatory note, 5 May 2023 |
| Flats bought by Russian citizens | January-November 2023 | 5,784 | Ministry of Justice reply, via Frontnews (media) |
The registry letter counts ownership registered on any legal ground, not only purchases, with plots listed apart. The bill's explanatory note counts purchases without naming its source; its figures match the Ministry of Justice release, whose 2022 total for Russia includes people who also hold Georgian citizenship.
Why nothing newer. The registry does not publish a breakdown by citizenship. The 2022-2023 figures were released in 2023 in reply to requests, including questions from members of parliament, and we found no later release in English, Georgian or Russian. The 2023 letter states that the counts were drawn by electronic and automated means, so the registry can produce them when asked.
Estimates. Colliers gives Batumi's total sales next to its shares, so a rough number of foreign purchases can be worked out. It assumes the share and the total use the same base, which Colliers does not confirm; the rounding of the share alone shifts each result by up to about 8 flats. G&T's survey counts can be treated the same way, but they cover surveyed projects only.
| Base | Period | About | Share x total |
|---|---|---|---|
| Batumi, all registered flat sales | July 2026 | 660 | 48% of 1,378 (Colliers) |
| Batumi, all registered flat sales | August 2026 | 640 | 52% of 1,235 (Colliers) |
| Batumi, all registered flat sales | September 2026 | 770 | 48% of 1,614 (Colliers) |
| Tbilisi, surveyed developer projects | January-August 2026 | 2,100 | 26% of 8,085 (G&T) |
| Batumi, surveyed developer projects | January-June 2026 | 1,700 | 67% of 2,537 (G&T) |
No source gives the money foreign buyers spend. Multiplying Colliers' market value by the foreign share would mislead, because foreign buyers mostly buy new and smaller flats.
The National Bank's non-resident figure
The NBG's Financial Stability Report 2025, published in December 2025 with data to the end of June, says that "nearly 40 percent" of demand for residential property in Batumi comes from non-residents, and calls this a high degree of vulnerability to demand from abroad. It does not say whether demand means deals or money, or which period it covers. The 2024 report gave no share; it linked the fall in Batumi sales in 2023 and the first half of 2024 mainly to fewer deals by non-residents.
Because it counts residence, not citizenship, this figure is not a lower or higher version of Colliers' 2026 readings of 45% to 52%, which also cover a later period. A Georgian citizen living abroad would be a non-resident in the NBG's terms but a Georgian buyer for Colliers. The NBG publishes no regular series on buyers' residence or citizenship.
How to read foreign-buyer claims in a sales pitch
Developers and agents often quote foreign demand to support a price or a rental forecast. The figure may be correct and still answer a different question from yours. Before relying on it, ask:
- All sales or one survey? A claim that most buyers are foreign can hold for one project, or for G&T's surveyed Batumi developers (67% in the first half of 2026), while Colliers counted 45% of all Batumi sales in the same half-year.
- Which city and which months? Tbilisi and Batumi are separate markets, and neither speaks for the country. A single strong month says little; compare it with the half-year figure.
- Which edition? A G&T share for a past year can change by tens of points between editions, so ask for the report and its date.
- Passport or address? A "non-resident" figure and a "foreign citizen" figure describe different people.
- Share, number or money? A rising share can hide a falling number of buyers if total sales fall, and no source measures the money spent.
- Who buys at resale? Most foreign buyers purchase new flats from developers. If you plan to sell later, the likely buyer of a second-hand flat, above all in Tbilisi, is local.
Quoted figures from news reports sometimes mislabel the base: we found a G&T survey share described as a share of all Batumi sales, and a Batumi figure attributed to Tbilisi. Go back to the source named in our tables.
What an avi.ge barometer of its own needs
A full barometer would give, for every month, the number of flats bought by foreign citizens in each city, by country, next to the total. No public source offers that today.
To be added by the team: items to gather so that avi.ge can publish monthly counts of its own.
- A public-information request to the Public Registry (NAPR, Ministry of Justice), modelled on the one answered on 17 May 2023: residential units whose ownership was registered, by month from January 2024; for Tbilisi, Batumi, the rest of Adjara and Georgia; by the owner's citizenship, with Georgian citizens and companies as separate rows and dual citizens flagged; purchases apart from gifts and inheritance; developer or private seller; units, persons and floor area; and the same counts for all buyers. Repeat it quarterly.
- A monthly copy of each Colliers statement on Recov (text, month, link), as older items drop off the front page.
- Questions to Colliers' research team: foreign shares for January 2024 to March 2026, counts as well as shares, a country split, the treatment of companies and dual citizens, and whether the April and May 2026 Tbilisi values are right. Its annual reports are sent by email on request.
- Every G&T report saved on release with its edition, and a request for single-month Tbilisi shares and survey counts by citizenship.
- A question to the NBG on what its "nearly 40 percent" measures and whether a series exists.
- AVI Estates' own deal records, kept with each client's written consent: date, city, district, new or resale, citizenship, country of residence, budget band and purpose. They describe our clients, not the market, and would appear only as a separate client survey.
- Colliers', TBC Capital's and G&T's monthly sales totals side by side, so each calculated count names its total.
The data file
The CSV has 317 rows: every share, count and estimate on this page, plus G&T's buyer citizenship figures from its editions published since February 2024, and the Colliers figures for 2025 that we found only in news reports. Each row names its period, city, group, unit, measure, source document, publication date and our access date. Older G&T editions show how figures were revised; the measure column marks the edition our tables use.
Sources
(accessed 2 November 2026)
- Recov news and methodology, Colliers Georgia; statements used, by Recov item number and month of posting: 541 and 538 (October 2026); 534 and 531 (September 2026); 527 and 524 (August 2026); 521, 517 and 510 (July 2026); 507 and 503 (June 2026); 499 and 496 (May 2026); 484 (March 2026); 474 (February 2026)
- Tbilisi Residential Real Estate - August 2026, Galt & Taggart, 23 October 2026
- Batumi Residential Real Estate - 2Q26 Overview, Galt & Taggart, 14 August 2026
- Batumi Residential Real Estate - 1Q26 Overview, Galt & Taggart, 28 May 2026
- Batumi Residential Real Estate - 2025 Review and 2026 Outlook, Galt & Taggart, 6 March 2026
- Batumi Residential Real Estate - 3Q25 Overview, Galt & Taggart, 17 November 2025
- Financial Stability Report 2025 (draft translation), p. 70, National Bank of Georgia, December 2025
- Financial Stability Report 2024, p. 44, National Bank of Georgia
- Letter No. 102414 of the National Agency of Public Registry to the Ministry of Justice, 17 May 2023, Parliament of Georgia website
- Explanatory note to bill 07-3/319/10 amending the Law on the Legal Status of Aliens and Stateless Persons, registered 5 May 2023, Parliament of Georgia website
- Russian citizens elevate real estate purchases in Georgia, Frontnews, 5 December 2023 (media)
- Batumi housing market volume grew in June, Homesoverseas, citing Colliers Georgia, 7 August 2026 (media)
- The average price per square meter of residential property in Tbilisi and Batumi stands at $1500, Commersant, citing Colliers Georgia, 2 December 2025 (media)
Change log
- - First edition published: Colliers' monthly foreign-buyer shares for Tbilisi and Batumi from April to September 2026, Galt & Taggart citizenship splits from their latest editions, the NBG non-resident figure, official counts to November 2023 and a 317-row data file. The next update is planned after Colliers' October 2026 item on Recov.