Colliers Georgia has been monitoring developments and trends in Georgia’s real estate market for more than 12 years. In the commercial real estate sector, the company’s portfolio includes approximately 20,000 sq.m. of office space, a significant portion of which consists of premium offices located in Class A business centres.

Based on its market observations and portfolio data, Colliers summarizes the key indicators of Georgia’s office real estate market in 2025.

Office Market Supply in Tbilisi

Currently, 52 modern business centres operate in Tbilisi, with a total stock of approximately 300,000 sq.m. of office space.

Class A and Class B offices account for nearly 70% of the market supply. Total Class A office stock amounts to 74,000 sq.m., while Class B office space totals 129,000 sq.m.

At the same time, up to 150,000 sq.m. of additional office space is under construction. The majority of future supply is concentrated in the Saburtalo district, although development activity is also observed in suburban areas, including Didi Digomi, Samgori, and Nadzaladevi.

Demand Structure

The largest share of demand comes from the financial, insurance, and investment sectors, accounting for approximately 25% of total demand. Professional services firms, as well as companies operating in the IT, media, and communications sectors, also remain active in the market.

According to current market trends, modern business centres typically require approximately two to three years to reach full occupancy.

Key Market Indicators

The weighted average rental rate in modern business centres stands at USD 18 per sq.m., excluding VAT and service charges, representing a 3.5% increase compared to the previous year.

Asking rents for Class A office spaces range between USD 28–32 per sq.m., while Class B office spaces are offered within the USD 18–25 per sq.m. range.

Rental prices have remained relatively stable year-over-year. Over a five-year period, however, Class A office lease rates have increased by approximately 10%.

Vacancy Rate

The average market vacancy rate currently stands at 10.7%, representing a slight increase compared to the previous year. This change is primarily associated with the addition of new business centres to the market.

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