The volume of the residential real estate market in  Georgia has been actively growing since 2021 and reached a historical high of $ 4,3 billion in 2024. Tbilisi accounts for 72% of the Georgian market while Batumi accounts for 20%.

The year 2024 turned out to be stable for the Tbilisi residential real estate market, indicating the strength of fundamental demand factors.The year 2025 started relatively weak,which was reflected in an annual decrease in sales of 6%.

The Batumi residential real estate market has significantly grown since 2021. In 2024 the market volume reached nearly $900 million, unchanged from 2023.

In 2024,the key indicators of the Batumi real estate market did not significantly change compared to 2023. In January 2025, sales remained virtually at the level as the previous year, although prices increased substantially, which is explained by the low base effect.

At the beginning of 2025, cashless spending on electronics and furniture is decreasing. This may indicate a slowdown in the growth of the real estate market.

The average price per square meter in Batumi is still in an attractive price segment and is $1222, compared to other resort cities in the world.

Due to a strong wave of migration, rental prices and real estate income reached historic highs in 2022-2023, and in 2024 these indicators stabilized.

In 2024, stable price growth is observed in the center of Batumi,  suburbs, and periphery, while a slight decline is noted in zone I. The trend towards  a decrease in sales is largely due to the relatively low supply of new development projects in  Batumi.

Over the last 2 years,  the share of relatively expensive categories has increased in all districts.In zone I apartments up to 35 sq. m, significantly prevail, while in the center, outskirtsa and  periphery apartments with an area of 50-75 sq. m are predominant.

The peak demand in the Kobuleti real estate market occurred in  2023. Despite an annual sales decline of 33% in 2024,  prices continued to rise, reaching nearly $ 1000 sq.m.

Most apartments in the primary market of Batumi  are purchased for investment purposes and are characterized by a high share of buyers from other nationalities. Based on the above,  the Batumi real estate market is more sensitive to external shocks compared to Tbilisi.

In recent years,  there has been a trend towards a  decrease
in the number of permits issued in the Batumi in the real estate market, mainly due to a lack of land resources for development projects
in Batumi. In 2024, permits were issued for about 321 thousand sq. m of residential space, which is 6% more than in 2023.