Navigating Batumi's Rental Market: An In-Depth Look at 2024 Prices and Trends

Key Insights into Batumi's Rental Landscape

Diverse Pricing: Rent prices in Batumi in 2024 exhibit significant variation, influenced by factors such as apartment size, location (city center vs. periphery), and amenities. Studios can start from around $300, while larger, more luxurious apartments, especially those with sea views, can command prices well over $1,500.
High Rental Yields: Despite a market slowdown in 2024 compared to previous record-high demand, Batumi continues to offer attractive average rental yields, hovering around 8.8% to 9.96%. This makes it an appealing destination for real estate investors.
Seasonal Fluctuations and Demand Drivers: The rental market experiences a "red-hot" tourist season from May to October, leading to higher short-term rental rates. Beyond tourism, the city's appeal to digital nomads and expats further fuels demand for both short and long-term accommodations.

Batumi, often dubbed the "Pearl of the Black Sea," has emerged as a vibrant hub attracting tourists, digital nomads, and investors alike. Its picturesque coastline, modern architecture, and favorable living conditions contribute to a dynamic real estate market. Understanding the rental prices in Batumi for 2024 requires a comprehensive look into various influencing factors, from apartment types and locations to market trends and rental yields.

Understanding Batumi's Rental Market in 2024

The rental market in Batumi in 2024 is characterized by its adaptability to both seasonal tourist influxes and a growing resident population. While prices have seen some stabilization after a period of rapid ascent, the city remains an attractive option for renters and investors due to its competitive pricing and robust rental yields.

Average Rental Costs Across Apartment Types

The cost of renting an apartment in Batumi can vary significantly based on its size and configuration. Generally, studios and one-bedroom apartments are the most budget-friendly options, while larger apartments or those with premium features command higher prices.

Studio Apartments: As of 2024, studio apartments in Batumi can be found starting from approximately $300 per month, particularly during the low season. For instance, a 60 m² studio can be rented for $300 per month with an initial payment covering two months.
One-Bedroom Apartments: Prices for one-bedroom apartments can range, with options in the city center costing around $530 USD, while those on the periphery might be found for approximately $390 USD.
Two-Bedroom Apartments: A two-bedroom modern apartment, typically around 75 sq. meters, might cost in the range of $300-$350 per month, excluding utilities.
Three-Bedroom and Larger Apartments: For more spacious accommodations, such as three or four-bedroom houses or apartments, monthly rents typically range from $1,000 to $2,500, heavily dependent on the interior, appliances, and specific location.

Geographical Influence on Rental Prices

Location plays a crucial role in determining rental prices in Batumi. Apartments in the city center or along the New Boulevard, especially those with sea views, tend to be more expensive due to their proximity to key attractions, infrastructure, and the Black Sea coastline. Areas outside the immediate city center might offer more affordable options while still maintaining good transport connections and access to amenities.

The New Boulevard neighborhood, for instance, is highly sought after, with a significant percentage of apartments sold in 2023 being located there. Gorgiladze Street also stands out with an average rental price of $29.4 per square meter for commercial properties, hinting at a similar premium for residential rentals in that vicinity.

Batumi's impressive skyline, showcasing its modern architectural appeal.

Rental Yields and Investment Outlook

Batumi's real estate market offers attractive returns for investors, primarily driven by high tourist demand and relatively affordable purchasing prices. The city's average gross rental yield stood at 7.53% in Q1 2025, a slight decrease from 7.85% in Q3 2024, yet still very competitive. Outside the city center, yields ranged from 4.61% to 9.96% in Q1 2025, with a city average of 7.28%.

Short-term rentals, especially during the high season from May to October, are particularly lucrative, with net rental incomes potentially reaching 10% to 12%. This robust yield is a key factor drawing both Georgian citizens and foreign investors to the city's real estate market since 2018.

Market Dynamics and Future Projections

After a period of record-high demand in 2022-2023, Batumi's real estate market experienced a slowdown in 2024. This decline can be attributed to various factors, though average rental yields remain high. Experts anticipate that in 2025, prices will stabilize at current levels, and rental yields may gradually decrease unless there's a significant increase in tourist arrivals. The continued growth of tourism, with over 9 million visitors in 2024, underscores the strong demand for short-term accommodations.

Cost of Living Beyond Rent in Batumi

While rent is a significant component of living expenses, it's important to consider other costs to get a complete picture of affordability in Batumi. As of May 2025, the estimated monthly costs for a single person, excluding rent, are approximately $543.4 (1,488.9 GEL). This makes Batumi considerably less expensive than many major global cities, such as New York, where it is 70.7% cheaper excluding rent.

An insightful apartment tour in Batumi, highlighting various rental options and their associated costs.

This video provides a practical look at what one can expect when searching for an apartment in Batumi, offering visual context to the rental prices discussed. It helps prospective renters and investors visualize the types of properties available and their general condition, further enhancing the understanding of the local market.

Breakdown of Typical Monthly Expenses (Excluding Rent)

Utilities are typically paid by the tenant in addition to the rent. For a two-bedroom apartment, utilities (water, gas, internet) might cost around $50 per month. General living expenses are quite manageable, contributing to Batumi's appeal as an affordable place to live.

Comparative Rental and Cost of Living Overview (2024-2025)
Category	Typical Range/Value in Batumi (USD/GEL)	Notes
Studio Apartment Rent	$300+ / 820+ GEL	Lower during low season, varies with amenities.
1-Bedroom Apartment Rent (City Center)	$530 / 1,450 GEL	Higher demand, proximity to attractions.
1-Bedroom Apartment Rent (Periphery)	$390 / 1,065 GEL	More affordable, good transport links.
2-Bedroom Apartment Rent (Modern)	$300-$350 / 820-950 GEL	Utilities usually separate.
3-4 Bedroom House/Apartment Rent	$1,000-$2,500 / 2,730-6,830 GEL	Depends heavily on interior, appliances, and location.
Monthly Costs (Single Person, Excl. Rent)	$543.4 / 1,488.9 GEL	Includes food, transport, going out, etc.
Average Gross Rental Yield (Q1 2025)	7.53%	Attractive for investors, can reach 10-12% for short-term.
Average Daily Rate (Short-term rentals)	$36	Typical for listings booked 201 nights/year.

Factors Influencing Rental Prices

Several variables contribute to the fluctuating rental prices in Batumi. Understanding these factors can help prospective renters and investors make informed decisions.

Seasonality and Tourism

Batumi's status as a resort city means that its rental market is highly seasonal. The peak tourist season, typically from May to October, sees a significant increase in demand for short-term rentals, driving up daily rates and occupancy. During the low season, from November to April, long-term rental prices tend to be more affordable as property owners shift their focus from short-term tourist rentals to securing consistent occupancy.

Apartment Type and Condition

The type of apartment (studio, 1-bedroom, 2-bedroom, etc.), its age, and its overall condition significantly impact rent. Newly built apartments in modern complexes, especially those with amenities like swimming pools, gyms, or sea views, command higher prices than older, Soviet-built apartments. Furnished apartments, particularly those fully equipped with kitchens and Wi-Fi for extended stays, are also popular and can fetch higher rents.

Infrastructure and Amenities

Proximity to essential infrastructure and amenities such as hypermarkets (e.g., Carrefour), shopping malls (Metro City Mall), popular boulevards, parks, and cultural sites also influences rental value. Apartments located near these conveniences are generally more desirable and, consequently, more expensive.

Market Trends and Investor Opportunities

Despite a slight cooling in demand in early 2024 compared to the previous year's boom, Batumi's real estate market remains dynamic. The average price per square meter for housing increased by 20.1% in 2023, reaching $1.3 thousand. This growth, coupled with high rental yields, signals a healthy investment environment.

The city's appeal to digital nomads and expats has created a consistent demand for long-term furnished rentals, ensuring occupancy even outside the peak tourist season. Investors are increasingly looking at properties that can cater to both short-term tourist stays and longer-term rentals for expatriates.

Investment Hotspots and Future Development

Construction in Batumi is gradually expanding to nearby areas such as Gonio, which is becoming increasingly attractive for investment. The development of ambitious projects, including port expansion and the free economic zone, further positions Batumi as a regional hub for business and trade, which will likely sustain demand for both residential and commercial properties.

The stunning Black Sea beach in Batumi, a major draw for tourists and residents.

Rental Market Performance Analysis

To provide a more opinionated analysis of the Batumi rental market, let's consider various aspects of its performance and appeal. This radar chart visualizes the perceived strength of different market characteristics, offering a qualitative assessment rather than quantitative data points.

This radar chart illustrates the perceived strengths of Batumi's rental market across several key dimensions. A higher score indicates a stronger performance or greater appeal in that particular area. For instance, "Tourism Demand" and "Rental Yield Potential" are shown as strong points, reflecting the high influx of visitors and the attractive returns on investment. "Affordability" is also notably high when compared to major global cities, making Batumi a cost-effective choice for many. "Expat/Digital Nomad Appeal" is robust, indicating a significant draw for long-term residents seeking furnished accommodations. "Market Stability" and "Infrastructure Growth" are depicted as solid, suggesting a developing yet relatively consistent real estate environment, albeit with some room for further growth and stabilization as the market matures.

Frequently Asked Questions (FAQ)

What is the average rent for a studio apartment in Batumi in 2024?

In 2024, studio apartments in Batumi can be found starting from approximately $300 per month, especially during the low tourist season. Prices can vary based on location and amenities.

Are rental prices in Batumi higher in the city center or on the periphery?

Generally, rental prices are higher in the city center and along the New Boulevard due to proximity to attractions and infrastructure. Apartments on the periphery tend to be more affordable.

What is the typical rental yield for properties in Batumi?

The average gross rental yield in Batumi stood at 7.53% in Q1 2025. For short-term rentals, especially during peak season, net rental incomes can reach 10% to 12%.

Does the tourist season affect rental prices in Batumi?

Yes, the tourist season (May to October) significantly impacts rental prices. During this period, short-term daily rates are higher due to increased demand, while long-term rental prices tend to be more affordable outside of this peak season.

What are the estimated monthly living costs in Batumi, excluding rent?

As of May 2025, the estimated monthly costs for a single person in Batumi, excluding rent, are approximately $543.4 (1,488.9 GEL).

Conclusion

The Batumi rental market in 2024 presents a dynamic landscape, characterized by competitive pricing, attractive rental yields, and a strong demand from both tourists and long-term residents. While there was a market slowdown compared to the preceding boom years, the city continues to offer diverse rental options to suit various budgets and preferences, from economical studios to luxurious multi-bedroom apartments. Factors such as location, seasonality, and amenities play a pivotal role in determining prices. For investors, Batumi remains an enticing prospect due to its high rental yields and ongoing economic development, ensuring sustained interest in its real estate sector. The cost of living, when combined with rental prices, positions Batumi as a relatively affordable and appealing destination for living and investment.