Rent or Buy
The calculator does not convert currencies: enter every amount in one currency and pick it for the label.
Every assumption (price growth, rent growth, return on investments, running costs) is your guess, not a forecast. Change them and watch the conclusion move: the result is very sensitive to price growth and to the rate.
How it is calculated
The model runs month by month. The owner pays the down payment and purchase costs at the start, then the mortgage payment and running costs; at the end the owner’s wealth is the price with growth minus the remaining debt.
The renter invests the down payment and purchase costs at the chosen return and every month invests the gap between the owner’s outgoings and the rent (or draws on the investments if rent is higher). Wealth is compared at the end of the horizon.
What the calculator leaves out
Tax on sale is not included: if you own the flat for more than two years the sale tax is zero, otherwise a 5% tax on the gain may apply (see the sale tax calculator). Also left out are the commission on sale, a rise in the rate, property tax and your personal reasons (stability, residency, using the flat yourself).
Data as of November 2026. This is a benchmark for comparing scenarios, not advice, a bank offer or a guarantee. All calculations run in your browser; nothing is sent to a server.
Frequently asked questions
Why does the result depend so much on assumptions?
Over a long horizon, a small difference in price growth or in the return on investments becomes a large difference in wealth. So look at several scenarios rather than one result.
What rent should I use for “the same flat”?
Real listings in the district you want. Rents in Tbilisi fell over the year in publications, so do not use old figures.
Does the calculator take residency into account?
No. If the flat is needed for a residence permit, its appraised value must be above the threshold: see the residency through property calculator.
See also
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A short summary of publications from open sources, prepared with AI; not legal or financial advice. Please check the original source.