Real apartment yield after tax: Tbilisi and Batumi
What is left of the rent after the agent, insurance, property tax, a repair reserve, empty months and the rental tax. The example is worked out by the same calculator as the home page; market figures carry a source, a date and a status.
Every figure has a source, a date and a status: verified (we read the official or primary source), press (a media report), estimate (an aggregator or agency), calculation (our formula, shown in the tooltip).
Calculate your own apartment in TbilisiCalculate your own apartment in Batumi
Tbilisi: from rent to money in hand
The example
- Apartment price in the example$60,000
as of 9 November 2026 · Levelvale home page calculator · calculationFormula: the home page calculator example
- Rent in the example$450 a month
long-term letting, a ready apartment
as of 9 November 2026 · Levelvale home page calculator · calculationFormula: the home page calculator example
- Calculation term10 years
as of 9 November 2026 · Levelvale home page calculator · calculationFormula: the home page calculator example
- Inflation in the calculation3.1% a year
the first-year amounts below are in today's money
as of 9 November 2026 · Levelvale home page calculator · calculationFormula: the home page calculator setting
Year one
- Rent for the year$5,238
$450 × 12 = $5,400 a year, in today's money
as of 9 November 2026 · Levelvale home page calculator · calculationFormula: monthly rent × 12, in today's money
- Agent−$436
1 month's rent per new tenant
as of 9 November 2026 · Levelvale home page calculator · calculationFormula: the agent's fee in year one, in today's money
- Insurance−$87
$90 a year, in today's money
as of 9 November 2026 · Levelvale home page calculator · calculationFormula: insurance for the year, in today's money
- Property tax (Tax Code Art. 206, Law No. 1874)−$467
calculator rate 0.8% of the price a year ($480), in today's money. By law: no tax when family income is up to GEL 100,000 a year; above that the municipality sets 0.8% to 1%
as of 9 November 2026 · Levelvale home page calculator · calculationFormula: price × tax rate a year, in today's money · Matsne, Law No. 1874 (Tax Code Art. 202(5), 206(1)(a)) · verified
- Repair reserve−$436
$450 a year, by default one month's rent, in today's money
as of 9 November 2026 · Levelvale home page calculator · calculationFormula: the reserve for the year, in today's money
- Empty months when the tenant changes2 months
in year one the tenant is already in place, so they are not in the first-year amount; the yield over the whole term includes them
as of 9 November 2026 · Levelvale home page calculator · calculationFormula: part of the yield over the term, not of year one
- Rental tax 5%−$262
on the gross rent, for landlords registered with the Revenue Service
as of 9 November 2026 · Levelvale home page calculator · calculationFormula: rent for the year × tax rate · Revenue Service of Georgia (rs.ge) · verified
- In hand in year one$3,550
as of 9 November 2026 · Levelvale home page calculator · calculationFormula: rent minus the agent, insurance, property tax, the reserve and the rental tax
The result
- Yield in year one5.8%
$3,550 in hand of the $61,200 you put in, including the buying costs
as of 9 November 2026 · Levelvale home page calculator · calculationFormula: in hand in year one ÷ money put in with buying costs
- Yield a year over 10 years without a sale2.5%
in today's money, after taxes, empty months and inflation; above the money put in +$13,193
as of 9 November 2026 · Levelvale home page calculator · calculationFormula: the calculator's yield a year over the term, without a sale, in today's money
- Paid back by the rent in16.6 years
nominal, estimate beyond 10 years
as of 9 November 2026 · Levelvale home page calculator · calculationFormula: how many years the money in hand takes to return the money put in
- Payback as the listing counts it11.1 years
price $60,000 ÷ rent $5,400 a year
as of 9 November 2026 · Levelvale home page calculator · calculationFormula: price ÷ (monthly rent × 12)
The figures come from the same calculator as the home page and match it; your own price, rent and costs give a different answer.
Tbilisi: let for the whole term and sell
- The price stays flat: 0.0% a year1.6% a year
over 10 years with a sale at the end, +$8,603 above the $61,200 put in, in today's money
as of 9 November 2026 · Levelvale home page calculator · calculationFormula: yield a year over the term with the apartment sold at the end, after taxes and inflation
- Tbilisi, 10 years: price growth 4.4% a year4.8% a year
over 10 years with a sale at the end, +$30,198 above the $61,200 put in, in today's money. Tbilisi: $882 per m² (2016, ISET/TBC) → $1,341 (2025, TBC Capital). A series joined from two sources. This is the past, not a forecast.
as of 9 November 2026 · Levelvale home page calculator · calculationFormula: yield a year over the term with the apartment sold at the end, after taxes and inflation
- Tbilisi, 5 years: price growth 7.1% a year6.8% a year
over 10 years with a sale at the end, +$48,152 above the $61,200 put in, in today's money. Tbilisi: $958 per m² (2020, ISET/TBC) → $1,341 (2025, TBC Capital). A series joined from two sources. This is the past, not a forecast.
as of 9 November 2026 · Levelvale home page calculator · calculationFormula: yield a year over the term with the apartment sold at the end, after taxes and inflation
- Tbilisi, ready apartment, 3 years: price growth 8.0% a year7.5% a year
over 10 years with a sale at the end, +$55,106 above the $61,200 put in, in today's money. Tbilisi, ready apartment: $1,045 per m² (December 2022) → $1,316 (December 2025), Galt & Taggart. This is the past, not a forecast.
as of 9 November 2026 · Levelvale home page calculator · calculationFormula: yield a year over the term with the apartment sold at the end, after taxes and inflation
Market: Tbilisi
Price per m²
- New builds (primary market)$1,426 per m²
July 2026 · Galt & Taggart / GBC · press
- Resale in new buildings$1,372 per m²
July 2026 · Galt & Taggart / GBC · press
- Average asking price on the resale market$1,363 per m²
+3% over the year
August 2026 · TBC Capital · verified
Rent and yield
- Rent$10.3 per m² a month
August 2026 · TBC Capital · verified
- Rent$10.1 per m² a month
July 2026 · Galt & Taggart / GBC · press
- Gross yield8.3%
August 2026 · TBC Capital · verified
Price history
- Price growth per m² in dollars over 10 years: $882 (ISET REMLab) → $1,341 (TBC Capital), two series joinedabout 4.3% a year
Q1 2016 to March 2026 · ISET REMLab, TBC Capital · calculationFormula: ($1,341 ÷ $882)^(1/10) − 1
This is the past, not a forecast.
Batumi
We do not show a worked example for Batumi: our data has no sourced price and rent for a typical apartment there. The market figures are below; calculate your own apartment in the calculator.
Market: Batumi
Price per m²
- Turnkey new builds$1,960 per m²
+9.8% over the year
June 2026 · Galt & Taggart · verified
- Resale$1,497 per m²
+6.5% over the year
June 2026 · Galt & Taggart · verified
- Median asking price in listings€1,536 per m²
October 2026 · SafeBuy · estimate
Yield
- Gross yield7.1%
June 2026 · Galt & Taggart · verified
- Gross yield10.0%
2023 · Galt & Taggart · verified
- Gross yield8.8%
2024 · Galt & Taggart · verified
- Gross yield7.4%
2025 · Galt & Taggart · verified
Supply
- Unsold apartments held by developersabout 12,400 apartments
end of 2025 · Galt & Taggart / Investor.ge · press
Calculate your own apartment in TbilisiCalculate your own apartment in Batumi
The data updates automatically; last updated .