Methodology
This page collects the monthly property price numbers published for Georgia, each under its own name, without blending them into one figure. For the years since 2012 see the price history by city, for Batumi the Batumi market review, and for buyers by citizenship the foreign buyer statistics.
| Series | What it measures | Price basis | Frequency | Revised later? |
|---|---|---|---|---|
| Galt & Taggart (G&T), Tbilisi | Weighted average per m² of white frame flats sold by developers; resales, split by building permit year; rent of new 50-60 m² flats; registered sales | Not stated for the developer price | Monthly, usually 1 to 2 months later | Yes |
| TBC Capital, Tbilisi | Average price per m² of all flats, new and old; rent; yield; registered transactions and their value | Asking: level from myhome.ge listings, changes from National Bank data | Monthly, within the following month | Yes: new method from the November 2025 report |
| Geostat RPPI | Index of a typical new dwelling in Tbilisi, 2020 average = 100 | Asking prices on myhome.ge and ss.ge, in lari | Quarterly, about 23 days after the quarter | No: figures are final |
| National Bank of Georgia | Price and rent indices for typical 1-room and 3-room flats in Saburtalo and Varketili | Asking prices from open sources | Monthly | Not known |
Sources and frequency. Every number in the tables comes from the publisher's own report or data file. We check G&T and TBC Capital monthly and Geostat quarterly. Colliers Georgia's monthly notes on its own Recov data platform are not part of these tables, and the National Bank's dashboard could not be reached on 2 November 2026, so it supplies no checked number here.
Revisions. G&T and TBC Capital restate past months; the data file keeps both versions.
Limits.
- Asking is not paid. TBC Capital, Geostat and the National Bank use listing prices. G&T does not say whether its developer price is a contract or a list price.
- White frame is not turnkey. G&T's Tbilisi developer price is for white frame flats; its Batumi price has been for turnkey flats since its third-quarter 2025 report, which restated earlier quarters.
- TBC changed its method. From its November 2025 report (October 2025 data on) its level is about 3.5% higher, with the monthly pattern kept, so its 2024 prices do not compare with its 2026 prices.
- No checked monthly Batumi series. G&T reports Batumi quarterly, Geostat and the National Bank cover Tbilisi only, and Colliers' monthly Batumi notes on its Recov platform are not part of this index.
- Dollars and lari. G&T and TBC use US dollars, Geostat lari, which moves with the exchange rate.
Latest readings, checked 2 November 2026
Each publisher's newest figure covers a different period: August 2026 for G&T, September 2026 for TBC Capital, the third quarter for Geostat.
| Series | Period | Value | Change |
|---|---|---|---|
| G&T developer price, white frame, Tbilisi | August 2026 | USD 1,432 per m² | +0.4% on the month, +6.8% on the year |
| G&T resale, newer buildings, Tbilisi | August 2026 | USD 1,399 per m² | +7.9% on the year |
| G&T rent, new 50-60 m² flats, Tbilisi | August 2026 | USD 10.4 per m² a month | Gross yield 8.7% |
| G&T registered sales, Tbilisi | August 2026 | 3,429 | 30,703 from January to August |
| TBC asking price, all flats, Tbilisi | September 2026 | USD 1,373 per m² | +3% on the year |
| TBC asking rent, Tbilisi | September 2026 | USD 10.3 per m² a month | Yield 8.2% |
| TBC transactions, Tbilisi | September 2026 | 4,254 | +10% on the year |
| Geostat RPPI, new dwellings, Tbilisi | Q3 2026 | 166.2 (2020 = 100) | +1.5% on the quarter, +5.9% on the year |
| G&T developer price, turnkey, Batumi | June 2026 (quarterly) | USD 1,960 per m² | +9.8% on the year |
Every Tbilisi price series in this table rose over the year, by 3% to 8%, but they disagree on level and speed: new-building resales and the developer price grew fastest, TBC's asking price for all flats slowest.
Next releases. G&T's September 2026 Tbilisi report was not out on 2 November 2026. TBC Capital's October report usually follows within a month. Geostat's fourth-quarter index is likely in late January 2027, going by past release dates.
Monthly prices in Tbilisi
G&T's developer price covers white frame flats across the city; its newer resales are flats in buildings permitted from 2013. For January to June 2024 the developer column shows G&T's restated values (see vintages). The TBC column is the average asking price of all flats on TBC's restated series, which starts in January 2025.
| Month | G&T developer price, white frame | G&T resale, newer buildings | TBC asking price, all flats |
|---|---|---|---|
| January 2024 | 1,246 | 1,182 | - |
| February 2024 | 1,258 | 1,134 | - |
| March 2024 | 1,271 | 1,198 | - |
| April 2024 | 1,278 | 1,241 | - |
| May 2024 | 1,288 | 1,226 | - |
| June 2024 | 1,298 | 1,214 | - |
| July 2024 | 1,298 | 1,244 | - |
| August 2024 | 1,301 | 1,263 | - |
| September 2024 | 1,303 | 1,247 | - |
| October 2024 | 1,307 | 1,224 | - |
| November 2024 | 1,312 | 1,278 | - |
| December 2024 | 1,320 | 1,252 | - |
| January 2025 | 1,319 | 1,302 | 1,265 |
| February 2025 | 1,325 | 1,245 | 1,264 |
| March 2025 | 1,330 | 1,220 | 1,286 |
| April 2025 | 1,332 | 1,256 | 1,298 |
| May 2025 | 1,331 | 1,253 | 1,310 |
| June 2025 | 1,338 | 1,256 | 1,313 |
| July 2025 | 1,340 | 1,263 | 1,322 |
| August 2025 | 1,341 | 1,299 | 1,328 |
| September 2025 | 1,345 | 1,310 | 1,329 |
| October 2025 | 1,352 | 1,286 | 1,347 |
| November 2025 | 1,366 | 1,297 | 1,341 |
| December 2025 | 1,373 | 1,316 | 1,341 |
| January 2026 | 1,385 | 1,296 | 1,340 |
| February 2026 | 1,398 | 1,304 | 1,348 |
| March 2026 | 1,403 | 1,305 | 1,341 |
| April 2026 | 1,408 | 1,371 | 1,345 |
| May 2026 | 1,412 | 1,366 | 1,350 |
| June 2026 | 1,417 | 1,345 | 1,353 |
| July 2026 | 1,426 | 1,372 | 1,359 |
| August 2026 | 1,432 | 1,399 | 1,363 |
| September 2026 | - | - | 1,373 |
G&T's developer price rose about 15% over the period, from USD 1,246 to USD 1,432 per m²; it stood still in July 2024 and slipped by USD 1 in January and May 2025. TBC's asking price rose about 8.5% in 20 months, mostly in 2025, and stayed between USD 1,340 and USD 1,353 from October 2025 to June 2026. Resale prices swing more, so compare several months, not one.
The two monthly price lines
The chart draws the two price columns of the table above. Read it for direction and timing only: one line is new white frame flats sold by developers, the other is listings of flats of every age, so the gap between them is not a discount.
Geostat: the official quarterly index
Geostat has no monthly price index. Its quarterly residential property price index follows a typical new dwelling in Tbilisi, using offer prices taken from myhome.ge and ss.ge at the end of each month. A hedonic model prices the same features (area, floor, condition, heating and others) within each district group, so more large or better-finished flats on sale do not lift the index by themselves. Resales and Batumi are not covered.
| Quarter | Index, 2020 = 100 | On previous quarter | On a year earlier | Flats, on a year earlier | Houses, on a year earlier |
|---|---|---|---|---|---|
| Q1 2024 | 141.3 | +1.1% | +13.0% | +12.9% | +13.3% |
| Q2 2024 | 148.1 | +4.8% | +14.9% | +14.4% | +16.8% |
| Q3 2024 | 146.7 | -0.9% | +8.0% | +7.5% | +9.7% |
| Q4 2024 | 154.3 | +5.2% | +10.4% | +9.8% | +12.3% |
| Q1 2025 | 157.6 | +2.2% | +11.5% | +10.9% | +13.5% |
| Q2 2025 | 156.1 | -1.0% | +5.4% | +5.2% | +5.7% |
| Q3 2025 | 157.0 | +0.6% | +7.0% | +6.9% | +7.2% |
| Q4 2025 | 159.4 | +1.5% | +3.3% | +3.5% | +2.5% |
| Q1 2026 | 162.3 | +1.8% | +3.0% | +3.3% | +1.8% |
| Q2 2026 | 163.8 | +0.9% | +4.9% | +4.8% | +5.5% |
| Q3 2026 | 166.2 | +1.5% | +5.9% | +5.6% | +7.0% |
In the third quarter of 2026 the index was 66.2% above its 2020 average: flats 63.1%, detached houses 72.7%. Yearly growth was 8% to 15% from early 2024 to early 2025 and 3.0% to 5.9% in the last four quarters. Being in lari, the index also moves with the exchange rate. Geostat's median asking prices of new flats by district ran from GEL 3,657 per m² in Samgori to GEL 7,004 in Mtatsminda in the third quarter of 2026.
Monthly sales counts, and why G&T and TBC differ
G&T and TBC Capital both count Tbilisi flat sales each month from Public Registry registrations; Geostat and the National Bank publish no monthly counts, and none of our sources gives one for all of Georgia. A dash means no number was published: G&T shows December only as a rounded chart label (about 4,100 in 2024, 4,500 in 2025), and its September 2026 report was not yet out.
| Month | Galt & Taggart | TBC Capital |
|---|---|---|
| January 2024 | 3,068 | 2,967 |
| February 2024 | 3,444 | 3,358 |
| March 2024 | 2,991 | 2,971 |
| April 2024 | 3,220 | 3,193 |
| May 2024 | 3,197 | 3,142 |
| June 2024 | 2,957 | 2,903 |
| July 2024 | 3,476 | 3,435 |
| August 2024 | 3,138 | 3,133 |
| September 2024 | 3,528 | 3,430 |
| October 2024 | 3,750 | 3,658 |
| November 2024 | 3,513 | 3,560 |
| December 2024 | - | 3,940 |
| January 2025 | 2,918 | 2,796 |
| February 2025 | 3,290 | 3,185 |
| March 2025 | 3,078 | 3,051 |
| April 2025 | 3,252 | 3,206 |
| May 2025 | 3,325 | 3,304 |
| June 2025 | 3,266 | 3,236 |
| July 2025 | 3,647 | 3,618 |
| August 2025 | 2,858 | 2,823 |
| September 2025 | 4,011 | 3,869 |
| October 2025 | 4,232 | 4,129 |
| November 2025 | 3,726 | 3,627 |
| December 2025 | - | 4,385 |
| January 2026 | 2,964 | 2,922 |
| February 2026 | 3,822 | 3,770 |
| March 2026 | 4,121 | 4,031 |
| April 2026 | 3,641 | 3,508 |
| May 2026 | 3,748 | 3,707 |
| June 2026 | 4,503 | 4,425 |
| July 2026 | 4,475 | 4,409 |
| August 2026 | 3,429 | 3,408 |
| September 2026 | - | 4,254 |
The counts never match. G&T was higher in every month with both figures except November 2024, by 5 to 142 deals. Neither publisher states its exact filter, so the cause is not confirmed. G&T's counts also grow with late registrations: reprinted a year or two later, a month is usually about 1% higher (August 2025: 2,858, later 2,891), and its 2024 total went from 40,346 to 40,637. TBC links some swings to a registration law change in March 2024 and to two fewer working days in August 2025, with deals carried into September.
G&T calls its registry count of developer sales a lagging indicator, so it also surveys developers with more than 100 Tbilisi projects, about half of the developer market, for current sales. That survey put developer sales 30.9% above a year earlier in August 2026.
First releases and restated values
A month's number can change after it is first published. We call each published version a vintage and never mix two in one line without saying so.
G&T, first half of 2024. Reprinted in G&T's 2025 and 2026 reports, these developer prices moved by up to USD 27. Our price history page quotes the first release (USD 1,266 for January 2024); the table and chart above use the restated values. From July 2024 on, reprints match the first release.
| Month | First release | Restated | Difference |
|---|---|---|---|
| January 2024 | 1,266 | 1,246 | -20 |
| February 2024 | 1,275 | 1,258 | -17 |
| March 2024 | 1,254 | 1,271 | +17 |
| April 2024 | 1,269 | 1,278 | +9 |
| May 2024 | 1,270 | 1,288 | +18 |
| June 2024 | 1,271 | 1,298 | +27 |
TBC Capital, method change. The restated series lifts each month of 2025 before October by USD 42 to 45, so growth measured from an old-method TBC price to a new-method one is overstated by roughly 3.5 percentage points. Asking rents were not re-levelled.
| Month | First release | Restated | Difference |
|---|---|---|---|
| January 2025 | 1,223 | 1,265 | +42 |
| February 2025 | 1,222 | 1,264 | +42 |
| March 2025 | 1,243 | 1,286 | +43 |
| April 2025 | 1,255 | 1,298 | +43 |
| May 2025 | 1,266 | 1,310 | +44 |
| June 2025 | 1,269 | 1,313 | +44 |
| July 2025 | 1,278 | 1,322 | +44 |
| August 2025 | 1,283 | 1,328 | +45 |
| September 2025 | 1,284 | 1,329 | +45 |
Three counts for one month. For July 2026 G&T reports 4,475 flats sold in Tbilisi and TBC 4,409 transactions; a media report of Colliers data gives 4,486, which we could not check against a Colliers document or confirm as Tbilisi only. The same month's prices were USD 1,426 (G&T developer), USD 1,372 (G&T newer resales) and USD 1,359 (TBC asking): different measures that should not be averaged or joined.
What an avi.ge index of its own would need
We do not publish a blended "avi.ge index": the series above measure different things, and their average could not be checked. An index of our own needs data we do not hold yet, so this page shows the sourced parts only. The list follows the publishers' own methods, mainly Geostat's technical manual.
To be added by the team: data the team must collect before avi.ge can publish its own monthly index.
- An end-of-month snapshot of every listing on myhome.ge and ss.ge: ID, date seen, asking price and currency, area, district and address, new or resale, construction stage, floor and floors in the building, condition (black, white or green frame, or turnkey), rooms, balcony, heating, gas, parking and storage; for houses, land area and water. Check each portal's terms of use first.
- Written cleaning rules and an audit log: duplicates across portals, missing values, outliers.
- District groups weighted by the previous year's listing values, renewed each year.
- A hedonic model per district group, and listing counts per group to show whether a monthly estimate holds.
- Registered deals: count and, if the Public Registry can supply them on clear terms (not yet known), price, area, address, date, developer or resale and buyer citizenship. Without them our index stays an asking-price index.
- The construction permit year of each building and whether the seller is the developer.
- Signed contracts from a panel of developers willing to report monthly.
- Monthly asking rents for fixed flat types by district, for yields.
- The National Bank's USD/GEL rate for each month.
- For every outside figure, the report date and our access date.
Batumi needs all of this from scratch, with turnkey and white frame flats recorded apart.
How to use these numbers, and how not to
- Do check a developer's price. Compare a Tbilisi white frame offer with G&T's latest developer price, then with the district level in our neighbourhood comparison. A turnkey offer is usually higher, by roughly the cost of finishing.
- Do read the direction. When G&T, TBC and Geostat rise over the same months, the trend is broad; when one moves alone, wait for the next release.
- Do test a rent. A promised rent far above G&T's and TBC's figures needs an explanation.
- Do not measure growth across series, from one publisher's price to another's or from TBC's old method to its new one.
- Do not apply Tbilisi numbers to Batumi, which has its own quarterly figures and product mix.
- Do not value one flat with an index. It describes a typical dwelling; a specific flat depends on its building, floor, view, finish and paperwork, which is what a valuation by a certified valuer covers.
- Do not treat one month as a trend. Single months move with working days and registry delays.
The data file
The file holds 565 rows, one per period, city, publisher and series, January 2024 to September 2026, each with its value, unit, measure, source link, publication date and our access date. First releases and restated values are separate series, named by vintage. It also holds figures not shown above: resales in older buildings, monthly rents, stated yields, reprinted sales counts, the developer/resale split, the Geostat index to four decimals and G&T's Batumi turnkey price by quarter. Each row links to its own report.
Sources
- Tbilisi Residential Real Estate - August 2026, Galt & Taggart, 23 October 2026 (accessed 2 November 2026)
- Tbilisi Residential Real Estate - January 2026, Galt & Taggart, 27 February 2026 (accessed 2 November 2026)
- Tbilisi Residential Real Estate - 2025 Overview, Galt & Taggart, 30 January 2026 (accessed 2 November 2026)
- Tbilisi Residential Real Estate - 2024 Overview, Galt & Taggart, 7 February 2025 (accessed 2 November 2026)
- Tbilisi Residential Real Estate - January 2024, Galt & Taggart, 5 March 2024 (accessed 2 November 2026)
- Batumi Residential Real Estate - 2Q26 Overview, Galt & Taggart, 14 August 2026 (accessed 2 November 2026)
- Tbilisi Residential Market: Monthly Watch - September 2026, TBC Capital, 30 October 2026 (accessed 2 November 2026)
- Tbilisi Residential Market: Monthly Watch - September 2025, TBC Capital, 24 October 2025 (accessed 2 November 2026)
- Residential Property Price Index - III quarter of 2026, Geostat, 23 October 2026 (accessed 2 November 2026)
- Residential property price index: data tables, including prices by Tbilisi district, Geostat (accessed 2 November 2026)
- Residential Property Price Index: Technical Manual, Geostat, Resolution No 7 of 26 April 2021 (accessed 2 November 2026)
- The National Bank of Georgia starts to publish residential real estate price and rent indices, National Bank of Georgia (accessed 2 November 2026)
Change log
- - Index published with monthly Tbilisi series from Galt & Taggart (January 2024 to August 2026) and TBC Capital (January 2025 to September 2026 on its restated method), Geostat's quarterly index to the third quarter of 2026, monthly sales counts and a 565-row data file.