New build or resale in Tbilisi: which to choose in 2026

Tbilisi's sales are split almost evenly between new builds and resale homes: according to the Public Registry, there were 20,961 and 21,427 deals respectively in 2025. Each option has its own logic: a new build means new systems, instalments and price growth by completion; resale means a ready home you can move into straight away, often in the centre. Here is what makes more sense in 2026 and who each option suits.

What counts as primary and secondary

The primary market is apartments sold by the developer, in a building under construction or just completed. In Tbilisi they are usually handed over as a shell — black, white or green frame — and the buyer does the fit-out.

The secondary market is apartments that have already had an owner. It is mixed: there are new buildings from the last 10–12 years (Galt & Taggart tracks them separately, with permits issued after 2013), and there is older stock: Soviet "Khrushchyovkas", "Czech" projects, Stalin-era blocks and pre-revolutionary buildings in the centre.

Prices per square metre

According to Galt & Taggart, in December 2025 the average new-build price was $1,373 per m² in white frame, up 4% over 2025. Resale in newer buildings (permitted after 2013) averaged $1,316 per m², up 7.9% over the year. So the gap between "new from the developer" and "new second-hand" is small, and newer resale homes rose faster in 2025.

Asking prices by district for Q3 2026 (Tbilisi Home, median listings; actual deals are usually lower):

Compare like with like: a new-build shell price excludes the fit-out, while a resale price already includes a renovation, even if not a recent one. Add a fit-out budget and time to a shell, and possible replacement of utilities to older stock.

Advantages of a new build

• 0% developer instalments. Many projects sell with a 10–30% deposit and instalments until completion, with no bank and no interest. See our article on interest-free instalments.
• Price growth by completion. Buying early locks in the price; by completion the price per metre is usually higher. But primary-market growth slowed to 4% in 2025 (after 11.6% in 2024 and 20.2% in 2023), so a "quick" 20–30% during construction is not guaranteed now.
• A modern building. Underground parking, lifts, concierge, courtyard, energy-efficient blocks and a frame built to current seismic codes.
• Your own layout and finish. A shell lets you fit it out the way you want rather than redo someone else's renovation.

Drawbacks and risks of a new build

• Completion dates. Delays of months, sometimes years, happen. Check the developer's record: how many buildings it has delivered and whether on time.
• Money is tied up. You cannot let the apartment before completion, and a residence permit through property can only be applied for once the building is complete, paid for and registered (see our residence permit article).
• Fit-out. A shell means several more months of work and a budget for it.
• Large supply. Galt & Taggart counts 1.73 million m² of permits issued in 2025, roughly a third above a "healthy" level. Plenty of new stock restrains price growth and increases competition for tenants.

Advantages of resale

• Move in or let straight away. No waiting for construction or fit-out; rental income starts in the first month.
• You see what you buy. The actual building, neighbours, noise, view and stairwell can all be checked on site.
• The centre. Sololaki, Mtatsminda and Vera have few new projects, so living in the historic centre usually means buying resale.
• Easier mortgages. Banks lend more readily on finished, registered homes. The average GEL mortgage rate in March 2026 was 11.88% (USD mortgage terms depend on the bank and the borrower's residency).

Drawbacks and risks of resale

• Old systems and structures. Soviet buildings often need new pipes, wiring and windows; older buildings are less seismically resilient than modern ones.
• No amenities. Parking, a decent lift or an enclosed courtyard are rare in older stock.
• Title checks. Check the Public Registry extract, the absence of mortgages and seizures, and that the real area matches the documents — older buildings sometimes have unauthorised extensions and alterations.
• No instalments. You pay up front, with your own money or a mortgage.

Letting: which earns more

Average rent for a 50–60 m² apartment in a new building in Tbilisi is about $9.8 per m² a month, a yield of 8.6% a year (Galt & Taggart, December 2025). Tenants in Tbilisi prefer new buildings with renovation, parking and a lift, so a new-build apartment usually lets faster and for more. Central resale wins on location and is popular with tourists and remote workers.

A third option: a recently completed building

A middle ground is buying from the developer in a building that is already complete. There is no construction risk, the building is new and the price is often below renovated resale. Our catalogue has many such projects, for example Archi Universe and Kazbegi Residence in Saburtalo and Archi Kikvidze in Nadzaladevi.

Which to choose: a quick guide

What to check before buying

• New build: the construction permit and its class, the developer's record, the construction stage, and the contract terms (deadline, penalties for delay, what the shell includes).
• Resale: the Public Registry extract, no encumbrances, area matching the documents, and the condition of the building and utilities.
• In both cases, an independent lawyer and an on-site viewing. We describe the purchase process in "How a foreigner buys property in Georgia".

All projects in the city are in our Tbilisi new-build catalogue.

This article is for information only and is not legal or financial advice. Rules and figures can change; confirm current terms before any transaction.