Tbilisi (GBC) - In 1Q26, demand remained high in Batumi (after strong sales by end-2025), with sales increasing across both primary and secondary markets. Despite increased sales, demand on the primary market still remains well below 2022-23 boom years, while unsold stock stays high, indicating oversupply pressures. Prices on the primary market continued to rise, though sustaining the current pace may be challenging given large pipeline of ongoing projects and gradually declining yield.
In 1Q26, the number of sold apartments in Batumi, according to the Public Registry, stood at 4,049 units, up 15.8% y/y, of which:
- Sales on the secondary market, which show real time dynamics rose by 10.1% y/y.
- Sales on the primary market, where data is impacted by delayed registrations, increased by 21.1% y/y.
- G&T real-time survey of developers, which captures current trends on the primary market showed a 70.6% y/y increase in the number of sold apartments.
Price
In Mar-26, average turnkey price per square meter on the primary market reached $1,893, up 8.7% y/y. Meanwhile, the average price on the secondary market reached $1,479, up 7.8% y/y. A wide gap between the two markets, large pipeline of ongoing projects and gradually declining rental yield may weigh on the primary market’s ability to sustain the current pace of price growth.
Rent
Average daily rent (ADR) in Batumi declined by 7.3% in 1Q26, though the market’s performance mostly depends on the summer season. Despite the decline in ADR, rental yield stood at 7.1%, remaining high among peer cities.