The Reality of Two-Bedroom Apartment Prices in Tbilisi — What Should Consumers Expect in 2025?

Tbilisi’s real estate market in 2025 is undergoing sharp changes. According to the National Statistics Office, in the first quarter of the year the residential property price index rose by 11.53% compared to the same period of 2024, and by 2.15% quarter-on-quarter (GlobalPropertyGuide, 2025). This means housing prices are steadily climbing, though at different speeds depending on the district. Price growth is also driven by inflation, rising construction costs, and structural shifts in demand — particularly in Tbilisi, where population growth, internal migration, and the activity of foreign buyers all play a role.

City Center: High Prices, Premium Lifestyle

For buyers looking for a two-bedroom flat in central or historic districts such as Mtatsminda or Vake, the average cost stands at $2,200–2,500 per square meter (PB Services, 2025). A 70 m² apartment would therefore cost between $155,000 and $175,000. Prices in these areas are determined not only by location but also by infrastructure, access to quality schools and hospitals, and the prestige associated with the area. Much of the stock here consists of older Soviet-era buildings, but demand is increasingly shifting to new developments offering energy efficiency, underground parking, and enhanced security. In effect, the buyer is paying for a lifestyle as much as for square meters.

Saburtalo and Chughureti: Dynamic and Fast-Growing

Saburtalo has become the hub for students and young professionals over the past decade. With its universities and office clusters, demand for apartments is strong. In 2025, two-bedroom flats here average $1,600–1,800 per square meter (PB Services, 2025), meaning a 70 m² unit costs $112,000–126,000. Chughureti, once an industrial area, is rapidly transforming: factories are being replaced by residential complexes, creative hubs, and cafés. Prices in this district jumped by 28% year-on-year (GlobalPropertyGuide, 2025), reflecting its accelerating urban transition and growing popularity among younger buyers.

Suburbs and Emerging Zones: Affordable but Rising

Isani, Didube, and Didi Digomi are seen as more affordable alternatives. A 70 m² two-bedroom flat here costs around $85,000–95,000 (PB Services, 2025). Even in these areas, prices are rising: in Didube, for example, house values grew by 28% in a single year (GlobalPropertyGuide, 2025). Didi Digomi is developing quickly, with new roads, schools, and shopping centers making it especially attractive to families. The main advantage remains price: per square meter costs are nearly half those in the city center.

Rental Market: Declining Yields

While sales prices are rising, the rental market is cooling. In 2025 average rental rates dropped by 12%, now standing at around $10–11 per square meter (TBC Capital / BTU AI, 2025). As a result, rental yields have fallen to between 5% and 9% depending on district (GlobalPropertyGuide, 2025). Vake and Mtatsminda no longer offer the attractive yields they once did, as demand from expatriates and temporary migrants — who drove up rents in 2022–2023 — has weakened. Decentralization of workplaces is also pushing renters toward suburban zones.

Price Comparison by District

• Center (Mtatsminda, Vake): $2,200–2,500/m² → two-bedroom: $155,000–175,000
• Saburtalo / Chughureti: $1,600–1,800/m² → two-bedroom: $112,000–126,000
• Suburbs (Didi Digomi, Isani, Didube): $1,200–1,350/m² → two-bedroom: $85,000–95,000

Consumer Perspective

For the average buyer, the key question is whether to prioritize prestige or affordability. Families able to spend $150,000 or more are drawn to central districts, which offer the best infrastructure and quality of life. Those with tighter budgets, however, find better value in emerging areas like Didi Digomi, where larger spaces can be purchased for the same money as much smaller central flats.

Long-Term Risks and Opportunities

One major risk is rising mortgage costs. In March 2025 the average mortgage rate in local currency reached 13.28%, while foreign currency mortgages averaged 8.11% (GlobalPropertyGuide, 2025). This raises the cost of purchase and reduces affordability, potentially slowing future price growth. On the other hand, infrastructure projects — new metro lines, roads, and schools — are likely to boost the value of suburban districts further.

Conclusion

In 2025, buying a two-bedroom apartment in Tbilisi is becoming more expensive, but options remain diverse. Central districts are aimed at affluent buyers and emphasize lifestyle. Saburtalo and Chughureti are transitional areas with strong momentum, while suburbs like Didi Digomi offer real alternatives for middle-income families seeking space and affordability. Falling rental yields suggest that property purchases today make more sense for personal use than for investment. Overall, Tbilisi’s housing market is rising across all segments — and consumers must weigh prestige, infrastructure, and budget to decide which path suits them best.