Saburtalo: the district where the arithmetic works
Saburtalo is not bought for charm. It is bought because the numbers are better here than anywhere else in Tbilisi, and because everything a tenant needs is already in place: both metro lines, the main hospitals, the Technical University, and City Mall on Vazha-Pshavela for the weekly shop, the brands and a cinema in one stop.
That combination produces the one thing an investor actually wants, which is a tenant every month of the year. Students, medical staff and young professionals do not go away in January.
The arithmetic, in full
Gross yield on a renovated 100 m² apartment, at district averages, before any costs:
| District | Purchase | Rent per month | Gross yield |
|---|---|---|---|
| Saburtalo | $170,000 | $1,130 | 8.0% |
| Vake | $225,000 | $1,420 | 7.6% |
| Sololaki | $210,000 | $1,270 | 7.3% |
| Vera | $200,000 | $1,200 | 7.2% |
| Mtatsminda | $270,000 | $1,270 | 5.6% |
Those are gross figures and you should not plan on them. Subtract an empty month between tenants, one month’s rent as the letting fee, maintenance, and the 5% Georgian tax on gross rent. A realistic net on a Saburtalo apartment held through a normal year lands closer to 6%, which is still the best in the city.
The reason is the gap between the two columns. Vake costs about a third more than Saburtalo to buy, but rents for only about a quarter more. Prestige is priced into the purchase and not fully into the rent, and that difference is the whole investment case for coming here instead.
What you are buying
| Condition | Per m² |
|---|---|
| New build | $1,750 |
| Renovated, newer building | $1,700 |
| White frame | $1,400 |
| Black frame | $1,300 |
The citywide average for a newer secondary-market apartment was $1,366/m², and the citywide average rent $9.9/m². Saburtalo sits in the middle of the official district rankings, roughly a quarter below Vake.
District averages, reviewed each month by Caucasus Elite Estate. Your own apartment is priced on its floor, its condition and its building.
Strongest point, weakest point
Strongest: both metro lines run through the district, which no other part of Tbilisi can say. For a tenant without a car that is decisive, and it is why the rental market here never goes quiet.
Weakest: Saburtalo is not beautiful. Wide avenues, heavy traffic and Soviet blocks next to new towers. Buyers who want to walk out of their door into something charming will not find it here, and should look at Vera instead and accept the lower yield.
Questions investors ask about Saburtalo
Is Saburtalo really the best yield in Tbilisi?
On gross figures, yes, at about 8% against 7.6% in Vake and 5.6% in Mtatsminda. The gap comes from entry price rather than from rent.
What should I actually expect to net?
Closer to 6% in a normal year, once you allow for a void month, the letting fee, maintenance and the 5% tax on gross rent.
Who are the tenants?
Students, hospital and university staff, and young professionals. Smaller budgets than Vake, but steadier demand and far less seasonality.
New build or an older renovated flat?
New build costs about 3% more per square metre and usually comes with a lift, parking and a managed building. For letting, those three things pay for themselves.
How much does a 100 m² apartment cost?
About $170,000 renovated, against roughly $225,000 for the same thing in Vake.
Market figures reviewed and verified by Alain Lavit, Caucasus Elite Estate, Tbilisi. Drafted with AI assistance.
