A 2026 Guide for International Buyers

Over the past decade, Tbilisi has moved from a peripheral market to a regular feature in international property portfolios. Prices have risen every year since 2021, and foreign buyers now account for a visible share of transactions. The rules governing ownership are the same for a buyer from London as they are for a local. Metropol has been active in the city for more than twenty years.

Tbilisi's Real Estate Market Dynamics: Growth and Trends

The residential market in Tbilisi is roughly twice the size it was in 2017. As of February 2025, the capital had handled about 72% of all residential transactions in Georgia, and the average price of new-build housing reached $1,157 per square meter, according to Colliers. That figure is still well below Warsaw or Prague for equivalent quality, and roughly a third of comparable inventory in Lisbon.

Price growth has been uneven across districts. In Vake, Saburtalo, and Mtatsminda, values rose 20% to 25% between 2023 and 2025. The premium segment in Tbilisi gained close to 30% in 2024 alone. Off-plan buyers who picked the right project have recorded an annual appreciation of 15% to 30% before handover, and in a few cases more. To compare our current pricing with the districts discussed here, you can browse the live apartment listings in Tbilisi on our site.

Why Tbilisi, and Why Now?

Three changes have happened at once. Tourism reached a record 7.6 million arrivals in 2024, sustaining high short-let occupancy in central districts. The city's population has grown due to internal migration and a steady inflow of residents from the UAE, Israel, Turkey, and several European countries. Public spending on the metro, schools, and road upgrades continues, and these investments tend to show up in property values a year or two later.

The buyer base has changed in parallel. Ten years ago, most purchases in Tbilisi were domestic. Now, a meaningful share of new-build inventory is bought by non-residents, and many of them are repeat investors rather than lifestyle buyers. If you are still weighing whether the market fits your strategy, our overview of real estate investment in Georgia covers the main approaches in more detail.

Foreign Ownership: Rights and Regulations

A foreign buyer has the same property rights as a Georgian citizen, except that agricultural land cannot be bought by foreign individuals or foreign-owned companies. Everything else is available on a full freehold basis. This ownership is held in the buyer's own name, without a local partner and without a residency requirement.

The paperwork is fast, with registration at the Public Service Hall usually taking one working day. The administrative fee ranges from 50 to 200 GEL, depending on how quickly you want the certificate, and no stamp duty applies. Buyers who cannot fly to Georgia in person normally complete the purchase through a notarized power of attorney. In these cases, local counsel handles due diligence and signs on their behalf. Owning property worth $100,000 or more also qualifies the owner for a short-term residence permit that can be extended to close family members. For a longer read on how different investors structure their purchase, see our analysis of investment property in Georgia.

Taxes and Their Strategic Importance

Georgian tax rules on residential property are unusually simple.

Rental income on residential lettings is taxed at 5% of gross rent, provided the landlord registers with the Revenue Service. If registration is skipped, the default rate is 20%, so it is worth handling on day one. Commercial lettings are taxed at 20%.

Annual property tax is capped at 1% of the appraised value, with the actual rate determined by household income. Households earning under 40,000 GEL per year owe nothing. If property is sold within two years of purchase, a 5% capital gains tax applies, with no tax due after that period. Georgia collects neither an inheritance nor a gift tax, and property transactions require no stamp duty.

Rental Yields: What to Realistically Expect

Global Property Guide put the average gross rental yield in Georgia at 7.42% in the first quarter of 2026. Numbers vary by district and by rental format. Long lets in mid-market areas usually produce 6% to 8% gross. Short lets in Old Tbilisi and Sololaki, if run properly, can clear 12% in a good year.

Unit size matters. A one-bedroom in Saburtalo purchased for roughly $100,000 rents for about $580 a month, which works out to a gross yield of just under 7%. Cheaper districts like Didi Digomi can produce double-digit yields on paper, though the absolute rent is modest. Net returns are 1.5 to 2 points lower than gross once you subtract management fees, vacancy, and maintenance. If you want projected cash flows on a real unit rather than a market average, we can run the numbers on any available apartment in a Metropol residential complex in Tbilisi.

How Metropol Works with International Investors

Metropol operates as a comprehensive development firm that manages every project stage internally. By housing design, construction, and after-sales services within a single organization, the company creates a unified point of contact from initial reservation to final handover. This internal structure maintains continuous accountability well after property delivery, supported by fully accessible English documentation for international buyers.

Our current construction projects include units structured for investors, with staged payments during construction and optional rental management after delivery. Every project is developed with long-term tenant demand in mind, whether that means local professionals in Saburtalo or short-stay guests near the Old Town. If you want to talk through a specific unit or ask for a projected return on one of our apartments, contact our investment team directly.