Tbilisi

Yes — and the process is unusually open. A buyer of any nationality can own an apartment or building outright (100% freehold) in Tbilisi, on the same legal footing as a Georgian citizen, with full rights to live in it, rent it, sell it and bequeath it. No residency, citizenship, local company or local bank account is needed to purchase, and title is registered with the National Agency of Public Registry — usually within one to two business days. The only exception is agricultural land, which foreign individuals cannot own directly; city apartments and buildings are unaffected.

Long-let gross yields run roughly 7–8%. Global Property Guide put Georgia's average gross yield near 7.4% in early 2026, and Tbilisi sits broadly in that band, with central apartments at the higher end. Old-Town short-lets can yield more, given strong tourist demand — Airbtics reported citywide Airbnb occupancy around 63% — though after management fees, cleaning and vacancy the net figure is lower. The key contrast with Batumi is consistency: Tbilisi's demand is year-round rather than concentrated in a summer season, which suits investors who prioritise stable occupancy over peak-season spikes.

Tbilisi averaged around USD 1,269 per m² in mid-2025 (TBC Capital), with Colliers reporting a citywide figure nearer USD 1,500/m² by late 2025. That is broadly comparable to Batumi on a citywide basis — the two markets are within a similar band, and which is 'cheaper' depends on the segment: Batumi's seafront and Old Batumi command high per-m² premiums, while Tbilisi's prime core (Mtatsminda, Vake) can run higher again, into the USD 1,800–3,300/m² range. Outer Tbilisi districts are markedly cheaper. The broad takeaway: similar citywide averages, with Tbilisi offering year-round demand and Batumi offering seasonal resort upside.

Entry starts from around USD 83,900 across the Tbilisi projects on Palmera — a studio in a central district such as Ortachala — rising into the mid-hundreds of thousands for larger homes and more central, historic addresses like Avlabari near the Old Town. Most listings are off-plan with developer payment plans, so the purchase is staged across construction rather than paid up front. The capital generally sits a step above Batumi's cheapest entry points, reflecting its year-round market and deeper tenant demand.

Yes — a qualifying purchase opens a renewable residence permit. Since 1 March 2026 the minimum investment is USD 150,000 in non-agricultural property (raised from the longstanding USD 100,000), based on an accredited valuation. It grants a renewable temporary residence permit, with a spouse and minor children able to qualify under the same investment, tied to continued ownership. A larger investment route (from around USD 300,000) leads to a longer permit and a faster path to permanent residence. This is a residence permit rather than citizenship — confirm the current rules and your valuation before relying on a specific outcome.

Georgia keeps property taxation light. Residential rental income earned by an individual is taxed at a flat 5% with no deductions (20% if let to a company). Capital gains are exempt after two years of ownership, and taxed at 5% on the gain if sold within two years. There is no annual property tax for owners below the statutory household-income threshold; above it, a small municipal charge of roughly 0.05–1% of value applies. Transaction costs are modest and registration is fast. Confirm current rates and thresholds with a Georgian tax adviser for your circumstances.

It depends on the strategy. The Old Town (Kala) — the historic core around Narikala and the sulphur baths — is the prime short-let and tourism address, scarce and characterful. Avlabari, on the high left bank directly across the river, is metro-connected, gentrifying and a short walk from the Old Town, offering central access at mid-tier pricing. Ortachala, the southern riverside quarter just below the Old Town, is a quieter, up-and-coming pocket of the centre. Saburtalo is the large modern residential-and-business district with the deepest new-build supply, while Vake and Mtatsminda are the prime, most expensive areas. Each is a sub-area of Tbilisi rather than a separate market.

Tbilisi is a year-round capital market. As Georgia's seat of government, its business centre and a major tourism gateway of roughly 1.2 million people, the city generates rental demand across all twelve months — driven by expatriates, students, a relocation wave since 2022 and a large digital-nomad community drawn by Georgia's visa-friendly rules. That makes it the natural complement to a seasonal Batumi holiday-let: where the coast earns in summer, Tbilisi's long-let market provides steadier occupancy and income through the year, supported by its metro, airport and capital-city fundamentals.