74% of Apartments Sold in Tbilisi Projects Due for Delivery in 2027

The Galt & Taggart study is based on a survey of developers in the capital's real estate market, covering more than 100 residential projects under construction in Tbilisi and about 50% of the primary market.

According to the organization's research, 82% of apartments have already been sold in projects scheduled for completion in 2026, while 18% remain on the market. As for projects with delivery in 2028–2029, 63% have been sold, with available apartments accounting for 37%.

Data show that the closer the project's completion date, the higher the share of sold apartments. At the same time, projects with later delivery deadlines still retain a certain volume of housing for sale.

In recent years, the share of foreign buyers in Tbilisi's residential real estate market has increased.

While in 2023 Georgian citizens accounted for 85% of sales and foreign citizens made up about 15%, in 2024 the share of Georgian citizens dropped to 79%, in 2025 to 76%, and in the first nine months of 2026 it stood at 74%.

In January-September 2026, foreign nationals accounted for about 26% of sales, which is 11 percentage points higher compared to the 2023 figure.

Among foreign buyers in the real estate market, the increase in the share of Israeli and Russian citizens is particularly notable. In 2023, the share of Israeli citizens was about 4% of sales, in 2024 — 10%, in 2025 — 10%, and according to data for the first nine months of 2026 — 11%.

The share of Russian citizens in 2023 was 5%, dropped to 2% in 2024, and in 2025 and 2026 accounted for about 3%. As for citizens of other countries, their activity in the Tbilisi real estate market rose to 11% this year.