Tbilisi or Batumi: where to buy an apartment for investment and rental income
We compare Georgia's two main markets on price per square metre, yield, rental demand and risk, and look at which city suits which goal.
- Gross rental yields in the two cities are almost the same: about 7.2–7.3% a year.
- Tbilisi means year-round long-term letting and steady demand. Batumi means short-term holiday lets, a strong summer season and aparthotels run by management companies.
- Studios and one-bedroom flats give the best yields in both cities.
- Net yield after costs is typically 1.5–2 percentage points lower than gross.
The numbers: price per m² and yield
| Tbilisi | Batumi | |
|---|---|---|
| Average price per m², new builds | ≈ $1,330 | ≈ $1,470 (city-wide) |
| Average gross yield | 7.23% | 7.28% |
| Studio yield | 8.03% | 8.35% |
| 1-bedroom yield | 7.43% | 8.08% |
| 2-bedroom yield | 6.73% | 6.69% |
| Rental type | Long-term, year-round | Short-term, summer peak |
Price per m²: Galt & Taggart estimates for 2025. Yields: Global Property Guide, Q3 2026. Prices vary widely within each city: Old Batumi and the seafront cost well above average.
Tbilisi: steady demand all year
Tbilisi is the capital and business centre. Tenants include students, IT professionals, international staff and relocating families, so long-term rental demand holds up all year and void periods are usually short.
The most sought-after rental areas are Vake, Saburtalo, Old Tbilisi and the Vake–Saburtalo business corridor. In the historic centre, short-term lets to tourists also work well.
- Pros: predictable income, lower management costs, good resale liquidity.
- Cons: nightly rates are lower than in Batumi's peak season; fewer hotel-managed projects.
Examples in our catalogue: Alliance Highline with Wyndham Grand residences in Vake, King Tamar by Archi, Old City Panorama in the old town. All Tbilisi projects.
Batumi: a resort for short-term lets
Batumi is the main resort on Georgia's Black Sea coast. Most income comes from short-term lets to tourists, with peak demand from June to September. Many new complexes are built as aparthotels: you buy a unit and a management company rents it out and shares the income.
Some projects offer a contracted fixed return, such as Grand Life with a guaranteed 8% a year or New Village Villas with 6%. This suits buyers who don't want to manage lettings themselves.
- Pros: high peak-season rates, branded hotels (Hyatt, Marriott, Hilton, Wyndham), the sea and resort infrastructure, plenty of instalment offers.
- Cons: seasonality, heavy competition among high-rise apartments, and management fees that noticeably cut the final return.
Examples in our catalogue: Alliance Centropolis with a Hyatt Centric hotel, Calligraphy Towers with Hampton by Hilton, comfort-class Lemon Garden. All Batumi projects.
Which city fits your goal
| Goal | Where | What to buy |
|---|---|---|
| Steady long-term rental income | Tbilisi | Studio or 1-bed in Vake, Saburtalo or near the metro |
| Hands-off income | Batumi | Aparthotel unit with a management contract and fixed return |
| Capital growth by completion | Both | Early-stage off-plan with instalments |
| A seaside home for yourself | Batumi, Gonio, Makhinjauri | Seaside flat, townhouse or villa |
| Relocating with family | Tbilisi | 2–3 bedrooms near schools and parks |
What to factor into your yield
- Work out net income: minus 5% tax (with landlord registration), management fees, utilities during voids, building service charges and repairs.
- For short-term lets, use realistic month-by-month occupancy, not the summer peak.
- Check when a "guaranteed return" starts and how the contract protects it.
This article is for information only and is not legal or financial advice. Rules and figures can change; confirm current terms before any transaction.
