In short: according to Geostat, the price index for new housing in Tbilisi rose 1.5% quarter on quarter and 5.9% year on year in Q3 2026. The median price per square metre for new-build flats by district ranges from GEL 3,657 in Samgori to GEL 7,004 in Mtatsminda. Below we look at what the statistics actually measure, how the districts compare and how these figures relate to the prices in our catalogue.
What the Geostat price index showed for Q3 2026
The National Statistics Office of Georgia published its Residential Property Price Index (RPPI) on 23 October 2026. The full release is on the office’s website: Residential Property Price Index, III quarter of 2026. The index covers only new housing in Tbilisi, both flats in multi-unit buildings and detached houses.
Key figures for Q3 2026:
- total index: up 1.5% on Q2, up 5.9% on Q3 2025, and 66.2% above the 2020 average;
- flats: up 1.2% on the quarter and 5.6% on the year, 63.1% above the 2020 level;
- detached houses: up 2.7% on the quarter and 7.0% on the year, 72.7% above the 2020 level.
For comparison, in Q2 2026 Geostat recorded a rise of 0.9% on the previous quarter and 4.9% on the year, with the index 63.8% above 2020. This is past statistics: it describes how prices moved, not how they will move next.
How to read these numbers
Three caveats follow from Geostat’s methodology.
- These are asking prices. The data is scraped automatically from property listing sites (Geostat names Myhome and ss.ge). The price actually paid after negotiation or under an instalment plan can differ.
- The index is calculated in lari. If you pay in dollars or euros, the result also depends on the exchange rate. Growth in lari is not the same as growth in dollars.
- The index describes a “typical” flat. Geostat uses a hedonic method that accounts for the characteristics of each property so that comparable homes are compared. It does not give the price of any single project.
Median price per square metre by district
Geostat publishes the median price per square metre in new buildings by district, separately for flats and detached houses. Values for Q3 2026, GEL per m²:
| District | Flats, GEL per m² | Detached houses, GEL per m² |
|---|---|---|
| Mtatsminda | 7,004 | 4,430 |
| Vake | 6,046 | 4,517 |
| Krtsanisi | 4,635 | 2,961 |
| Saburtalo | 4,444 | 3,543 |
| Didube | 4,168 | 3,448 |
| Chughureti | 4,121 | 3,637 |
| Isani | 4,032 | 3,213 |
| Nadzaladevi | 3,932 | 2,798 |
| Gldani | 3,830 | 2,993 |
| Samgori | 3,657 | 2,839 |
The order of districts matches the charts in the Geostat release, and we checked the exact values against a Georgia Today report on the same release. If you need a figure for a document, take it from the Geostat PDF.
What the table shows
The gap between the most expensive and the most affordable district for flats is almost double: GEL 7,004 against GEL 3,657. Mtatsminda and Vake stand clearly above the rest. Below them is a tight group from GEL 3,657 to GEL 4,635: Krtsanisi, Saburtalo, Didube, Chughureti, Isani, Nadzaladevi, Gldani and Samgori.
For detached houses Vake leads rather than Mtatsminda, and the spread between districts is narrower. But detached houses in the centre are rarely what foreign buyers look for, so the flats column matters more for most of them. For the wider picture, see our guide to the top cities in Georgia for real estate investment and our Tbilisi page.
Green, white and black frame
The Geostat release also has a separate chart showing the price per square metre of new flats by finishing condition: green, white and black frame. For a buyer this is one of the main reasons prices differ within the same district.
- Black frame: the shell of the building without interior finishing. The lowest entry price, but all fit-out work is on you.
- White frame: plastered walls, screed, windows and an entrance door, main utilities routed. Finishing work and plumbing fixtures remain.
- Green frame: a step closer to a ready flat, usually with a fuller scope of work than white. The scope differs between developers, so check the specification of the specific project.
We do not quote frame values here: they are not in the text part of the PDF, and we will not substitute our own estimates. The quarterly chart from 2024 is in the Geostat release itself. In our catalogue every project lists its finishing, and the filter lets you pick white frame, green frame, turnkey or furnished.
What our Tbilisi catalogue shows
As of 26 October 2026 the Sea Inside catalogue has 62 projects in Tbilisi, with prices per square metre starting from $900. Prices and availability are confirmed by a manager, so the examples below are not an offer. Our catalogue is in dollars while Geostat counts in lari, so the two tables should not be compared number to number. What you can compare is the order and the spread.
| Project | District in catalogue | Price per m² | Handover |
|---|---|---|---|
| Kings Garden | Old Tbilisi and Krtsanisi | $5,900 | Q3 2027 |
| Alliance Highline | Vake | $5,700 | under construction |
| Cinema City by NEXT | Didube and Digomi | $4,800 | Q3 2029 |
| Kostava 49 | Mtatsminda | $4,200 | Q1 2028 |
| Bare | Isani and Avlabari | $4,100 | Q4 2027 |
| VR Vake Sky Tower | Vake | $3,100 | Q4 2031 |
| Biography Sakeni | Saburtalo | $2,700 | under construction |
| Gardani | Gldani | $1,500 | Q4 2029 |
| Monolith New Depo | Didube and Digomi | $1,200 | Q1 2029 |
| Archi Isani 2 | Samgori | $900 | under construction |
Three things stand out.
- The spread inside one district is large. In Vake the catalogue has projects at $5,700 and at $3,100 per square metre, and noticeably cheaper ones. Project class, floor, view and handover date matter as much as the address.
- Handover date affects the price. Most projects in the catalogue offer a developer instalment plan; check the terms for each project.
- A city average says little about your budget. The catalogue does have flats from $40,000 to $60,000, but these are small studios and projects in more distant districts.
One more catalogue entry: Trump Tower Tbilisi, price on request, handover announced for Q2 2029.
How to use this data when choosing a flat
- Set your budget in the currency you actually pay in. Index changes in lari and your price in dollars or euros depend on the exchange rate.
- Compare with the district median, not a city average. The table above helps you see how far a specific project sits from its district median.
- Compare like with like. The same district, the same finishing, a similar handover date.
- Ask the developer for a payment schedule and a finishing specification. The difference between white and green frame can noticeably affect the total cost.
- Check the residence permit threshold. Buying property with a market value of more than $150,000 allows you to apply for a temporary residence permit. For the buying process see our guide on financing a property purchase in Georgia.
If you pay by transfer from abroad, note that the notary and the bank check the source of funds when a property is bought, and that residents of Russia may face currency control questions. It is better to plan the payment route before reserving a flat.
Limits of the data
- The Geostat index covers only new-builds in Tbilisi; the resale market and other cities are not included.
- Asking prices are not transaction prices: with instalments and after negotiation the final figure differs.
- A district in our catalogue sometimes combines several administrative districts, so comparison with Geostat is approximate.
- The data may be revised in later releases.
Summary
According to Geostat, the price index for Tbilisi new-builds rose 1.5% on the quarter and 5.9% on the year in lari in Q3 2026. District remains the main price factor: from GEL 3,657 to GEL 7,004 per square metre for flats. The catalogue shows an even wider spread, because project class, finishing and handover date all affect the price.
Want to see what is available within your budget? Ask us for a selection of apartments in Tbilisi by district, finishing and handover date.
