According to research by investment company Galt & Taggart, May 2026 demonstrated significant growth in activity on the Tbilisi housing market. Overall demand for apartments in this month increased by 11.1% compared to May 2025, with 3.7 thousand apartments sold. This observation reflects the trend of activation of the capital's real estate market in the current year.
The dynamics across the two main market segments differed significantly. The secondary market showed more pronounced growth – sales increased by 12.4%, totaling 1,924 apartments. On the primary market, growth was more moderate, at 9.7%, with sales volume of 1,824 apartments. Galt & Taggart analysts noted that on the primary market, demand in May remained practically unchanged compared to neighboring months, however, the number of sold apartments showed modest growth in year-over-year comparison.
Price dynamics on the primary market indicate relative stability. In May, real estate prices increased at a moderate pace – only 0.3% month-over-month, reaching $1,412 per square meter. This indicates a cautious upward trend without sharp price fluctuations in new construction.
The segment of new projects on the secondary market – real estate built with permits issued since 2013 – demonstrated a different picture. After a sharp price surge of 5% in April, May brought partial stabilization: prices declined by 0.3% month-over-month and settled at $1,366 per square meter. This movement shows that after significant April growth, the market began to correct.
It is important to note a feature of the primary market identified by analysts: although the number of sold apartments increased, the total area of sold housing decreased. This occurred due to a decrease in the average area of sold apartments, which may reflect a shift in demand toward more compact housing.
Summarizing the first five months of 2026, we can speak of significant market activation. From January to May, 18,296 apartments were sold, with total sales volume reaching $1.6 billion. This represents growth of 21.9% compared to the same period in 2025, demonstrating sustained demand for Tbilisi real estate.
The picture of demand by city districts is quite uneven. The largest number of apartments from January to May 2026 was sold in the districts of Didi Digomi, Saburtalo, and Samgori. Conversely, the smallest sales volume was recorded in Chugureti, Mtatsminда, and Vashlijvari. This difference in demand indicates the presence of clear preferences among buyers regarding different districts of the capital.
Price differences between city districts are quite significant. The Vake district remains the most expensive with a maximum price of $3,150 per square meter, which reflects its prestige and demand from affluent buyers. At the same time, Vashlijvari district is at the opposite end of the price spectrum with a minimum price of $1,071 per square meter, making it attractive for the middle class and budget segment of the market.