Prices for renting and buying apartments in Tbilisi: results for 2022
In this publication, we will look at the average prices for renting and buying apartments in Tbilisi in December 2022. A large migration flow from Russia was reflected in the growth of rental rates throughout Georgia. This especially affected Tbilisi.
Prices for renting and buying apartments in Tbilisi as of December 2022
How much have apartment prices increased over the past year in Tbilisi? The average cost of 1 square meter in Tbilisi is $1,072, and the price increase on an annualized basis was 28%.
Rental rates have risen by an astronomical 103% in a year. Tenants pay an average of $11.2 for renting 1 square meter. Thus, renting a small studio with an area of 30 square meters costs $336 per month on average.
What is the yield from renting an apartment for a long-term lease? The average rental yield also increased significantly, amounting to 12.5% per annum. For the real estate market of Georgia is quite a high figure. In some areas of Tbilisi, rental yields are above average: Didi Dighomi (16.2%), Samgori (15.5%) and Didube (14.9%).