Methodology
This page follows the monthly rent series published for Tbilisi, each under its own name, and how each is built. District detail is on rents by district, tenants on long-term tenants, net returns on rental yields and sale prices on the monthly price index.
| Series | What it measures | Asking or agreed rent | Coverage | Frequency | Revised later? |
|---|---|---|---|---|---|
| Galt & Taggart (G&T) | Weighted average rent of new 50-60 m² flats, USD per m² a month | Not stated; the chart cites "NBG, Galt & Taggart" | Tbilisi and 12 districts | Monthly, about 2 to 8 weeks later | Not in reprints so far (2024 and 2025); 2022 and 2023 lowered |
| TBC Capital | Average asking rent of all listed flats, USD per m² a month | Asking: level from myhome.ge, changes from National Bank data | Tbilisi only | Monthly, within about a month | Of 2025 and 2026 months, March 2026 only, 10.1 to 10.0 |
| Geostat, consumer prices | Change in the item "Apartment rent", in lari; no rent level | Not stated in the files we used | Georgia; no city split | Monthly, about 2 days later | Not checked |
| National Bank of Georgia | Rent index of typical 1-room and 3-room flats | Asking: offer prices from open sources | Saburtalo and Varketili | Monthly | Not known |
How they connect. From December 2023 to January 2025, TBC's stated yearly rent change equalled, to the whole percent, the National Bank index change printed in TBC's annex every month. The bank's own dashboard did not load on 2 November 2026, so no figure here comes from it directly. TBC's November 2025 method change raised its sale prices but left 2025 rents and yields as first released. Geostat's group "Actual rentals for housing", which holds the rent item, weighed 2.64% of the consumer basket in 2026.
Revisions. 28 reprints of G&T's 2024 and 2025 city rents, 12 and 24 months later, all matched the first release. G&T did lower its 2022 and 2023 rents without a note (March 2023: USD 12.1 to 11.8).
Limits. No source publishes rents from signed leases, and none adjusts for season. G&T covers only new mid-size flats; no source reports older buildings apart. There is no monthly Batumi series: G&T's Batumi rents are quarterly and built on Numbeo's crowd-sourced data, so they appear in the data file only.
Latest readings, checked 2 November 2026
G&T's newest month is August 2026; its September report was not out on 2 November. TBC Capital and Geostat have reached September.
| Series | Month | Latest | Same month a year earlier | Change over the year |
|---|---|---|---|---|
| G&T city rent, new flats of 50-60 m² | August 2026 | USD 10.4 per m² a month | USD 9.6 | +8.3% |
| G&T gross rental yield, Tbilisi | August 2026 | 8.7% | 8.6% | +0.1 points |
| TBC Capital asking rent, all flats, Tbilisi | September 2026 | USD 10.3 per m² a month | USD 10.2 | +1.0% |
| TBC Capital rental yield, Tbilisi | September 2026 | 8.2% | 8.5% | -0.2 points, as stated by TBC |
| Geostat consumer prices, apartment rent, Georgia, in lari | September 2026 | +0.6% on the month | -1.7% on the month | +10.9% |
G&T's August figure of USD 10.4 equals January 2024 and tops every month in between; G&T itself put the rise at 2.7% on July. Over the year all three series rose, at very different speeds, for reasons set out under yields and currency.
TBC's annual averages give the longer view: USD 5.4 in 2021, 8.7 in 2022, 12.7 in 2023, then 11.7 in 2024 and 10.4 in 2025. In February 2026 TBC forecast a further 2.1% fall in rents for 2026.
Monthly rents and yields in Tbilisi
G&T columns are first releases; every reprint so far, of January 2024 to August 2025, matched them. TBC columns are the latest published version; TBC first printed March 2026 as USD 10.1. A dash means not yet published.
| Month | G&T rent, new 50-60 m² flats | G&T yield | TBC asking rent, all flats | TBC yield |
|---|---|---|---|---|
| January 2024 | 10.4 | 10.3% | 12.0 | 10.5% |
| February 2024 | 9.9 | 10.4% | 12.0 | 10.5% |
| March 2024 | 9.9 | 10.3% | 12.0 | 10.5% |
| April 2024 | 9.9 | 9.4% | 12.1 | 10.6% |
| May 2024 | 9.9 | 9.4% | 12.0 | 10.6% |
| June 2024 | 9.9 | 9.3% | 11.6 | 10.4% |
| July 2024 | 9.8 | 9.1% | 11.5 | 10.1% |
| August 2024 | 9.9 | 9.1% | 11.5 | 9.8% |
| September 2024 | 9.9 | 9.1% | 11.4 | 9.6% |
| October 2024 | 10.1 | 9.3% | 11.5 | 9.7% |
| November 2024 | 9.9 | 9.0% | 11.5 | 9.7% |
| December 2024 | 9.7 | 8.8% | 11.1 | 9.6% |
| January 2025 | 9.7 | 8.8% | 10.7 | 9.2% |
| February 2025 | 9.6 | 8.6% | 10.6 | 9.1% |
| March 2025 | 9.5 | 8.6% | 10.6 | 9.0% |
| April 2025 | 9.5 | 8.5% | 10.7 | 9.0% |
| May 2025 | 9.3 | 8.4% | 10.6 | 8.9% |
| June 2025 | 9.4 | 8.4% | 10.4 | 8.7% |
| July 2025 | 9.5 | 8.5% | 10.3 | 8.5% |
| August 2025 | 9.6 | 8.6% | 10.2 | 8.4% |
| September 2025 | 9.7 | 8.6% | 10.2 | 8.5% |
| October 2025 | 10.1 | 9.0% | 10.1 | 8.2% |
| November 2025 | 10.1 | 8.9% | 10.1 | 8.3% |
| December 2025 | 9.8 | 8.6% | 10.1 | 8.2% |
| January 2026 | 10.2 | 8.9% | 10.0 | 8.1% |
| February 2026 | 10.1 | 8.6% | 10.0 | 8.1% |
| March 2026 | 9.9 | 8.5% | 10.0 | 8.1% |
| April 2026 | 10.0 | 8.5% | 10.0 | 8.2% |
| May 2026 | 9.9 | 8.4% | 10.0 | 8.1% |
| June 2026 | 10.1 | 8.5% | 10.1 | 8.2% |
| July 2026 | 10.1 | 8.5% | 10.3 | 8.3% |
| August 2026 | 10.4 | 8.7% | 10.3 | 8.3% |
| September 2026 | - | - | 10.3 | 8.2% |
G&T's rent slid from USD 10.4 to a low of 9.3 in May 2025 and has climbed since; every month of 2026 beats the same month of 2025. TBC's asking rent fell from 12.0 to 10.0 by January 2026, then edged up to 10.3 from July. Through 2024 TBC stood USD 1.4 to 2.2 above G&T; from October 2025 the two have stayed within USD 0.3. That says the two series converged, not that rents of all flats fell to the level of new ones.
Rent in the consumer price index, in lari
Geostat's detailed price tables give the "Apartment rent" item each month against the previous month and the same month a year before. Values are rounded to one decimal; the data file keeps four.
| Month | 2024, on the month | 2024, on the year | 2025, on the month | 2025, on the year | 2026, on the month | 2026, on the year |
|---|---|---|---|---|---|---|
| January | -1.6% | +0.4% | +0.6% | +1.5% | +0.8% | -0.2% |
| February | -2.1% | -0.4% | -0.4% | +3.2% | +0.5% | +0.7% |
| March | +0.3% | -0.4% | -0.3% | +2.6% | +0.6% | +1.6% |
| April | -0.1% | +0.8% | -0.4% | +2.2% | +1.4% | +3.5% |
| May | +1.2% | +1.8% | -0.4% | +0.6% | +0.7% | +4.6% |
| June | +0.1% | +0.6% | +1.1% | +1.6% | +1.9% | +5.4% |
| July | +0.6% | +0.8% | -0.4% | +0.6% | +2.3% | +8.2% |
| August | +0.1% | +0.9% | +1.2% | +1.8% | +1.4% | +8.4% |
| September | -1.1% | -1.9% | -1.7% | +1.2% | +0.6% | +10.9% |
| October | -0.1% | -2.8% | -0.4% | +0.9% | - | - |
| November | +1.2% | -2.7% | +1.3% | +1.0% | - | - |
| December | +0.8% | -0.7% | -0.6% | -0.4% | - | - |
Yearly rent inflation in lari stayed between -2.8% and +3.2% in 2024 and 2025. In 2026 the item rose every month and the yearly rate climbed from -0.2% in January to +10.9% in September. Geostat does not say, in the files we used, whether it prices offered or paid rents or which cities it covers, so read it as a national signal, not a Tbilisi rent level. A 2024 TBC annex line labelled "Geostat" does not match these figures (December 2024: -5.1% against -0.7%); quote Geostat's own tables.
Districts: August 2026 against a year earlier
G&T's August 2026 report is newer than the figures on our rents by district page, which reads each district in detail. This table adds only the newest month, a year earlier and a six-month average.
| District | August 2025 | August 2026 | Change | Average, March to August 2026 |
|---|---|---|---|---|
| Vake | 14.9 | 15.4 | +3.4% | 15.0 |
| Mtatsminda | 13.0 | 13.5 | +3.8% | 13.0 |
| Saburtalo | 10.9 | 11.7 | +7.3% | 11.4 |
| Krtsanisi | 10.0 | 11.3 | +13.0% | 10.6 |
| Isani | 9.6 | 10.7 | +11.5% | 10.0 |
| Chugureti | 9.4 | 10.3 | +9.6% | 9.9 |
| Vashlijvari | 8.7 | 10.1 | +16.1% | 9.1 |
| Didube | 9.2 | 10.0 | +8.7% | 9.9 |
| Nadzaladevi | 9.0 | 9.7 | +7.8% | 9.5 |
| Gldani | 8.0 | 8.9 | +11.3% | 8.6 |
| Didi Dighomi | 8.1 | 8.8 | +8.6% | 8.6 |
| Samgori | 7.9 | 8.7 | +10.1% | 8.4 |
| Tbilisi, city | 9.6 | 10.4 | +8.3% | 10.1 |
Every district rose. Vake and Mtatsminda, the dearest, gained under 4%; Vashlijvari's 16% rise rests on a month with only 31 recorded flat sales and sits almost a dollar above its six-month average. G&T gives no sample sizes for rents, so prefer the average. All 12 districts for every month since December 2023 are in the data file.
The two dollar rent lines
The chart plots the two rent columns of the monthly table. Read it for direction and turning points: one line is new mid-size flats, the other all flats listed on one portal, so the gap is neither premium nor discount.
Gross yields: why G&T and TBC differ
Both print a gross yield: a year of rent over a purchase price, before costs, tax and empty months. Net figures are on rental yields.
G&T. No formula is printed, so we tested one: 12 x city rent / developer price for white frame flats reproduces the published yield within 0.1 point in all 29 months from April 2024 to August 2026 (August 2026: 12 x 10.4 / 1,432 = 8.72%, printed 8.7%). It fails for December 2023 to March 2024 (January 2024: 9.86% against 10.3%), so the basis was different then. A white frame flat needs finishing before it can be let, so a buyer who pays for that earns less than this ratio.
TBC. No formula either, and the plain ratio of its own rent and price does not fit: 12 x 10.3 / 1,373 = 9.0% for September 2026, against 8.2% printed. When the November 2025 method change lifted TBC's 2025 prices by about 3.4%, the 2025 yields did not move. The National Bank's capitalisation rate (annualised rent over price, same month, offer prices) may be the basis, but TBC does not say so.
Result. The levels are close (August 2026: 8.7% and 8.3%), but since January 2025 G&T's yield went from 8.8% to 8.7% and TBC's from 9.2% to 8.2%, as TBC's rent fell about 4% and G&T's rose about 7%. G&T's August chart also shows deposit rates of 9.3% in lari and 2.2% in dollars.
Dollar rents and lari inflation
In September 2026 Geostat's rent item was 10.9% up on a year earlier and TBC's dollar asking rent 1.0%; G&T's August rent was up 8.3%. They do not contradict each other:
- Currency. When the lari strengthens, a rent fixed in lari buys more dollars and a dollar rent costs fewer lari. The National Bank rate was GEL 2.5979 per dollar on 20 October 2026, against 2.7079 a year earlier: the lari gained about 4%.
- Coverage. Geostat's index is national; G&T and TBC cover only Tbilisi.
- Mix. G&T follows one flat type, TBC everything listed on one portal, so a change in what is listed moves TBC's average.
The three cannot be chained or averaged. For a lari rent, convert a dollar figure at the same month's National Bank rate and say so.
What an avi.ge rent index of its own would need
We publish no blended "avi.ge rent index": the series above differ in flat type, currency and basis, and their average could not be checked. Until we hold the data below, this page shows the sourced parts only.
To be added by the team: what the team has to gather before avi.ge can launch a monthly rent index of its own.
- A monthly snapshot of long-let listings on myhome.ge and ss.ge: ID, dates first and last seen, asking rent and currency, area, rooms, district or coordinates, building age, condition, furniture, utilities included, floor. Check each portal's terms of use first.
- Fixed segments by district, at least G&T's (new, 50-60 m²) and the National Bank's (typical 1-room and 3-room), with medians and counts; small cells withheld.
- Written rules for duplicates, re-posts, daily lets and typing errors, with an audit log.
- Agreed rents from signed leases, from a panel of letting agents reporting with consent or our own managed flats; without them the index stays an asking index.
- The date each listing disappears, as a sign the rent was accepted.
- The National Bank's dollar rate for each month, to publish in both currencies.
- For yields, one named price series with a stated basis.
- For Batumi, all of the above from scratch, long lets kept apart from seasonal ones.
- Report and access dates for every outside figure.
- The National Bank's own Saburtalo and Varketili indices, once its dashboard can be reached.
How to use these rents, and how not to
- Do test a promised rent. Area times G&T's district figure gives a benchmark for a new flat; a promise far above both G&T and TBC needs a reason.
- Do compare like with like: new mid-size flats with G&T, typical listings with TBC.
- Do use a six-month average for a district rather than one month.
- Do not join series, from TBC to G&T or from dollars to Geostat's lari index.
- Do not treat a gross yield as income; see long-term or short-term rental for what costs and letting model take off.
- Do not apply Tbilisi figures to Batumi.
The data file
762 rows, each with period, area, series, value, unit, measure, source report and link, publication date and our access date. Beyond the tables above it holds every G&T district month, TBC's first releases and reprints, the National Bank index as printed by TBC to January 2025, TBC's annual averages since 2019, Geostat's basket weights and G&T's quarterly Batumi rents, marked as Numbeo-based.
Sources
- Tbilisi Residential Real Estate - August 2026, Galt & Taggart, 23 October 2026 (accessed 2 November 2026)
- Tbilisi Residential Real Estate - August 2025, Galt & Taggart, 24 September 2025 (accessed 2 November 2026)
- Tbilisi Residential Real Estate - January 2025, Galt & Taggart, 7 March 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)
- Tbilisi Residential Market: Monthly Watch - December 2024, TBC Capital, 30 January 2025 (accessed 2 November 2026)
- Residential Real Estate in Georgia, 2025 Summary / 2026 Outlook, TBC Capital, 11 February 2026 (accessed 2 November 2026)
- Consumer Price Detail Indices (Previous month = 100), Geostat (accessed 2 November 2026)
- Consumer Price Detail Indices (The same month of the previous year = 100), Geostat (accessed 2 November 2026)
- Consumer basket weights, Geostat (accessed 2 November 2026)
- Inflation Rate in Georgia, September 2026, Geostat, 2 October 2026 (accessed 2 November 2026)
- Official exchange rate of the lari, National Bank of Georgia (accessed 20 October 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 rents and yields from Galt & Taggart (January 2024 to August 2026) and TBC Capital (January 2024 to September 2026), Geostat's lari rent index to September 2026, August 2026 district rents and a 762-row data file.