Georgia’s two housing markets diverge: Tbilisi sales rise while foreign buyers lead in Batumi

Georgia’s two largest apartment markets moved in different directions in August 2026. Colliers Georgia’s Recov data record 3,388 apartment transactions in Tbilisi, 18.9% more than a year earlier. The capital’s total transaction value increased 35.2% to $297 million. Batumi registered 1,235 transactions, down 4.3%, although their combined value rose 2.9% to $81 million.

The divergence is clearer inside individual market segments. In Tbilisi, transactions in new projects grew 23.7% year on year, while those in older projects increased 3.8%. Colliers links much of the new-project increase to additional supply, particularly in Samgori and Didi Dighomi. In Batumi, transactions in new projects fell 6.3%, but transactions in older apartments increased 31.4%. These are different segment definitions and should not be treated as a direct measure of price changes.

Batumi’s new-project data also carry a registration-timing caveat. Primary-market transactions were down 24.2%, while secondary transactions in new projects increased 15.1%. Colliers says bulk registrations in several projects during August 2025 raised the comparison base. Consequently, the primary-market decline cannot by itself establish that current buyer demand fell by the same proportion.

The buyer mix offers another contrast. Foreign nationals accounted for 14% of transactions in Tbilisi’s old and new projects, compared with 52% in Batumi. This is a share of registered transactions in the reported month, not a measure of foreign-owned housing stock or a forecast of future purchases. It makes the coast more sensitive to changes in international buyer activity, while the capital remains predominantly a Georgian-buyer market in this dataset.

For an apartment buyer, the key comparison is between citywide transaction growth, project-specific prices, delivery status, resale supply and achievable rent. homeradar.ge can help compare individual Batumi developments, but neither the citywide figures nor a single monthly movement can establish the expected return of a particular property.