Updated:
- Gross yield as of October 2026: about 7.2% on average (Global Property Guide, Q3 2026) and 8.4% for Tbilisi (Galt & Taggart, May 2026). The methods differ.
- Vacancy, management, utilities, repairs and the 5% tax on gross rent come off. The usual gap is 1.5–2 percentage points (GPG); for Batumi, Galt & Taggart cited net yield of 2–4%.
- A developer’s “guaranteed yield” is a marketing promise, not market statistics: ask for payout history.
Gross yield: what independent estimates say
Gross yield is a year of rent divided by the flat’s price, before any costs. Estimates differ because methods differ: Global Property Guide uses median asking prices and rents from the ss.ge portal; we did not find the methods of Galt & Taggart or TBC Capital in the publications we checked.
The gap between 7.2% and 8.4% for Tbilisi is a difference of approach, not an error. The 6–9% (Tbilisi) and 7–10% (Batumi) ranges on our city pages are the upper part of published estimates; independent averages sit nearer 7–8%. The trend is down: GPG’s Georgia average fell from 7.42% (Q1 2026) to 7.25% (Q3 2026). Geostat shows Tbilisi new-build prices up 4.9% in a year (Q2 2026, offer prices) while TBC Capital put rent 6% lower: prices rise faster than rents.
| Source | Data for | Tbilisi | Batumi |
|---|---|---|---|
| Global Property Guide (ss.ge asking prices) | Q3 2026 | average 7.23%; studios 8.03% | average 7.28%; studios 8.35% |
| Galt & Taggart | May 2026; 2025 | 8.4% (long-run 8–9%) | 7.4% for 2025 (8.8% for 2024) |
| TBC Capital, via International Investment | Q1 2026 | 8.1%, excluding upkeep | no data |
From gross to net: what comes off
Global Property Guide notes that net yield is usually 1.5–2 percentage points below gross: a general rule, not a Georgian calculation. For Batumi, Galt & Taggart, as reported by International Investment on 24 March 2026, put net yield at 2–4%, and at 1.5–2% (negative for some owners) if the housing stock doubles.
- Vacancy and seasonality: the flat sits empty between tenants; short-term occupancy depends on the month.
- Management: for short-term managers in Batumi, Airbtics (undated page, © 2026) gives 10–15% of income for partial service, 20–30% for full service. We found no source for long-term fees.
- Platform fee: per Airbnb, most hosts pay 3% under a split fee, or about 15.5% when the host bears all of it.
- Utilities, supplies, repairs, furniture wear, building fees: no solid market figures for Georgia, so the example uses assumptions.
The 5% tax on rent
An individual renting out a home for residential use pays 5% on rent received, with no deduction for expenses (PwC Tax Summaries, reviewed 2 September 2026). Example: GEL 1,500 of rent a month is GEL 18,000 a year and GEL 900 of tax. Non-residents pay the same: rent on a Georgian flat is Georgian-source income.
Not settled: PwC describes a special short-term accommodation regime that ran until 1 January 2026 and does not say if it was extended; whether 5% fits short-term letting run as a business, and VAT above GEL 100,000 of income in 12 months, should be confirmed with a Georgian accountant. Property tax: on 30 September 2026 parliament adopted a GEL 100,000 income threshold (SOVA); below it no tax, above it 0.8–1% of market value; the sources we checked do not specify the treatment for non-residents without Georgian income.
Update of 16 October 2026: under the text of the Georgian Tax Code (Art. 309) the fixed tax on short-term letting of owned housing, GEL 10 per m² a month, runs until 1 January 2028. The conditions are covered in our guide to short-term rentals.
Worked example: an $80,000 flat (illustration)
Arithmetic on stated assumptions, not market data. An $80,000 flat, purchase costs excluded. Long-term: rent $500 a month, one month vacant, repairs and fees $400 a year. Short-term: $36 a night (Galt & Taggart cited about $35.6 for Batumi in 2025), occupancy 35%, 55% and 65% as hypothetical scenarios; management 20% (low end of full service per Airbtics), platform fee 3%, utilities and supplies $900 and repairs and fees $1,000 a year, tax 5%.
| Item | Long-term | Short-term 35% | Short-term 55% | Short-term 65% |
|---|---|---|---|---|
| Gross income | 6,000 | 4,599 | 7,227 | 8,541 |
| Vacancy (1 month) | −500 | in occupancy | in occupancy | in occupancy |
| Tax 5% | −275 | −230 | −361 | −427 |
| Management 20% | 0 (self) | −920 | −1,445 | −1,708 |
| Platform fee 3% | 0 | −138 | −217 | −256 |
| Utilities, repairs, fees | −400 | −1,900 | −1,900 | −1,900 |
| Net income | 4,825 | 1,411 | 3,304 | 4,250 |
| Gross yield | 7.5% | 5.7% | 9.0% | 10.7% |
| Net yield | 6.0% | 1.8% | 4.1% | 5.3% |
Guide’s worked example (author’s assumptions); 5% tax: PwC Tax Summaries, 2 September 2026
Illustrative: author’s assumptions, not market data. Purchase costs excluded; self-managed, one month vacant.
Short-term or long-term
Short-term letting earns more on paper, but the data conflict. These are estimates from platform listings, not owners’ accounts, and averages hide a wide spread: per BnBCalc, strong Batumi listings earn about GEL 44,000 a year, weak ones about GEL 5,000. Short-term also means more work; long-term is simpler.
| Source | Batumi | Tbilisi |
|---|---|---|
| AirDNA, updated 13 October 2026 | occupancy 65%, RevPAR $26 | occupancy 69%, RevPAR $31 |
| Airbtics, 2025 | 54%, rate $43, revenue $8,595 | 63%, $41, revenue $9,628 |
| BnBCalc, 12 months to September 2026 | 22% (37% elsewhere on the page); GEL 13,000–24,000 | no data |
Tbilisi vs Batumi: where the gap is wider
Long-term gross yields are almost equal on average (7.23% and 7.28%, GPG); the spread inside each city is wider: 1-bed flats yield 6.22% in Vake, 7.34% in Didi Digomi, 6.30% in Old Batumi.
Batumi adds an oversupply risk, as our city page also says: supply grows faster than demand, especially in short-term lets. Airbtics counts short-term listings up 45% in Batumi in 2025 and 24% in Tbilisi; Galt & Taggart counted about 12,400 unsold flats in developer projects at end-2025, up 14%. For Batumi, keep a long-term backup scenario.
Developers’ “guaranteed yield”
Marketing materials for hotel-managed projects in Batumi that we reviewed promise from 6–8% to 12–20% a year. We found no independently verified statistics of actual payouts. Below are general risks, not findings about specific projects:
- A guarantee is one company’s obligation, worth what that company can pay.
- Guaranteed income may be built into the price: compare the price per m² with similar flats outside a hotel programme.
- No income flows until handover, and the guarantee period is usually limited.
- The operator may take a share of revenue and change terms.
How to check the numbers
- Take the price and rent of the specific building from current listings, not city averages.
- Subtract vacancy, the 5% tax, management, utilities and repairs, then add a scenario with occupancy halved.
- Ask a Georgian accountant which tax treatment fits your type of letting.
- Before any deal you need a local lawyer and a check with the official source (rs.ge): this guide is not legal or tax advice.
Frequently Asked Questions
What is the rental yield in Tbilisi and Batumi?
Gross: per Global Property Guide, on average 7.23% in Tbilisi and 7.28% in Batumi (Q3 2026); Galt & Taggart cited 8.4% for Tbilisi (May 2026) and 7.4% for Batumi (2025). Before costs and tax.
What is the net rental yield in Georgia?
There is no official figure. Global Property Guide puts net 1.5–2 percentage points below gross; for Batumi Galt & Taggart cited 2–4%. In our illustrative calculation a long-term let gives 6.0% net on 7.5% gross.
Is short-term or long-term letting better in Georgia?
Short-term revenue is higher, but so are costs and seasonality, and occupancy estimates disagree (22% to 65% for Batumi). In our example short-term net is 1.8–5.3%, long-term 6.0%.
How much can you earn renting out an apartment in Georgia?
In the illustration for an $80,000 flat: about $4,800 a year net long-term, $1,400 to $4,300 short-term. Not a forecast: it depends on the building, occupancy and costs.
Does a foreigner pay tax on rent in Georgia?
Yes, 5% of rent received with no expense deduction, non-residents included (PwC, September 2026). For short-term letting and VAT, ask a Georgian accountant.
Can I trust an aparthotel’s guaranteed yield?
It is the seller’s promise, not market statistics. Check who guarantees it and whether it is built into the price, and ask for actual payouts from completed buildings.
Sources: Global Property Guide: Gross rental yields in Georgia (Q3 2026) · Trend: Galt & Taggart on Tbilisi gross yield of 8.4% (7 September 2026) · Investor.ge: Galt & Taggart, Batumi residential review (20 April 2026) · International Investment: Galt & Taggart on Batumi yields (24 March 2026) · International Investment: TBC Capital on the Tbilisi market (27 April 2026) · Geostat: Residential Property Price Index, Q2 2026 · AirDNA: Batumi occupancy and seasonality (13 October 2026) · AirDNA: Tbilisi occupancy and seasonality (13 October 2026) · BnBCalc: Batumi short-term rental market · Airbtics: Georgia short-term rental market report 2025 · Airbtics: Batumi property manager fee ranges · Airbnb: host service fees · PwC Tax Summaries: Georgia, individual income determination (2 September 2026) · SOVA: parliament adopts GEL 100,000 property tax threshold (30 September 2026)