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Back in 2017 we scoured the world looking for the best international real estate investment opportunity and found it … in Tbilisi, Georgia. Fast forward to 2023, Tbilisi’s real estate market has consistently proven itself as a reliable investment for more than 300 of our investor clients, all the while retaining its exceptional potential for further growth.

And here’s why …


Real estate prices in Tbilisi are among the lowest of any capital city in the developed world, with apartment prices starting from $35,000 pre-construction.  For anyone looking to purchase international real estate elsewhere and finding prices outside their reach, Tbilisi is the perfect buying destination.

Constantly Increasing Tourism Numbers

According to the Georgian National Tourism Administration, Tbilisi is expected to welcome over 5 million tourists in 2023. This is an increase of 20% from the number of tourists who visited the city in 2022. Currently the majority of visitors to the city are coming from the Middle East, Turkey, Ukraine, Russia and the states of Central Asia. However, the number of tourists from Western Europe is increasing. In 2023, the number of direct flights from Western Europe to Tbilisi is expected to increase by 20%. This is likely to lead to a further increase in the number of European tourists visiting the city.

High Occupancy Rates

According to AirDNA, the average occupancy rate for Airbnb rentals in Tbilisi in 2023 is 74%. This is higher than the average occupancy rate for Airbnb rentals in other European cities, such as London (66%) and Paris (63%). The occupancy rate for Airbnb rentals in Tbilisi is expected to remain high in the coming years, as the city continues to attract tourists.

Lack of Competition

While there are significant numbers of apartments currently for rent in Tbilisi – both for long-term and short-term holiday rentals – most of the apartments have been finished and furnished to Georgian tastes.  There is a major lack of accommodation in the city which is designed to appeal to the discerning and high-spending international market. This means that there is an opportunity for investors to buy properties that can be rented out to tourists or expats.

Excellent Rental Yields

It’s basic economics. High demand is the recipe for excellent returns.  Add in the affordable buying prices for property in Tbilisi and you’re looking at some exceptionally high rental yields. For the right property in the right place marketed in the right way, you can be looking at Gross Rental Yields of up to 15%.

Capital Gains Potential

The capital gains potential for real estate in Tbilisi is also very good. The city is undergoing rapid development and the property market is expected to continue to grow in the coming years.

Barriers to Foreign Buyers

Some countries make it difficult for foreigners to buy property.  But not Georgia.  Buyers are able to buy property here on a full freehold basis under exactly the same terms as domestic Georgian buyers.  The property registration system is incredibly quick and straight-forwarded.  A property can be registered in your name in a matter of a couple of hours.

No Property Taxes

The cost of registering a property in Georgia is only ₾150-350/$60-130 depending upon how quickly you want it processed.  There is no Stamp Duty or the equivalent to pay, avoiding the hidden costs of property ownership common in most other countries.

Liberal Visa Regime

Wherever in the world you’re from, you’re unlikely to have much trouble getting into Georgia as the country has one of the world’s most liberal visa laws.  And once you’re here, for most passport holders, you can stay here as long as you like – up to one year in many cases.

Permanent Residence Possibility

Looking for a permanent second home?  Then Tbilisi is an ideal choice.  The cost of living here is the lowest in Europe and the climate and local hospitality are two more reasons why you should consider moving to Georgia.  Anyone investing $100,000 or more in real estate has the opportunity of receiving Permanent Residence in Georgia – receiving all of the same benefits as native Georgians.


To take advantage of the unique opportunities Tbilisi real estate market has to offer, contact us today so that we can help you to find the perfect property that meets all your buying requirements.