m2 at Mtatsminda Park Tbilisi: Prices and Units Guide (2026)

m2 at Mtatsminda Park Tbilisi is a six-building residential complex at 20 Innovation Street in the Okrokana area of Tbilisi’s Mtatsminda district, and on 12 November 2026 the developer’s apartments page listed 72 of its 190 homes, 63 of them unreserved, at asking prices of USD 177,870 to 613,599.

This guide to m2 at Mtatsminda Park Tbilisi reads the project page and apartments grid of m², the developer, as they stood on 12 November 2026 and sets beside them what the developer’s dated offers, a listing portal, official statistics and the press print. Where sources differ, on handover, on the number of free flats and on areas, each figure is shown with its source and date, and the guide does not choose between them.

It also gives sourced background on Okrokana and its road and cable-car links to Mtatsminda Park and the centre, the Georgian rules on buying, registering, taxing and financing a flat as a foreign buyer, and a list of what a buyer can ask for in writing before paying a reservation.

Overview of m2 at Mtatsminda Park Tbilisi

The developer’s project page describes a new residential project in Okrokana, near Mtatsminda Park, made up of six five-storey buildings with homes of various layouts, including private yards, terraces and duplexes. It lists 190 apartments, 212 underground parking spaces and a total area of 20,000 m², and it gives the construction deadline as “Buildings I-VI – 2026 year”. Every figure in this section is the developer’s own, read on 12 November 2026.

The most useful number for a buyer is how many homes can still be bought. The page’s counters show 118 of the 190 sold. The apartments grid lists the other 72, and nine of those carry a Reserved flag, which leaves 63 unreserved. The project record’s own availability field also totals 63. Section 2 sets the definitions out in a table.

Flats are sold in a finish the page calls “White frame +”, which lists services and fittings but not a finished interior. The project page’s gallery holds renders and a site plan, the apartments page adds unit plans, and neither shows interiors. Payment is by a single payment, a mortgage or an in-house instalment plan; the terms are in section 5.

What each source prints about handover, availability, areas and addresses

The developer’s pages, its dated offers and a portal do not always agree about m2 at Mtatsminda Park Tbilisi. The tables below list each figure with its source and date. The developer’s current pages are read as of 12 November 2026; the offers carry the date field that m2.ge shows on its offers page; the portal figures are labelled with the date the portal gives.

Handover and timing statements by source

These are different kinds of statement: a construction deadline, a planned-completion sentence in a marketing offer, payment dates inside offers, and a portal field. The guide does not treat any of them as the answer. The date that governs a purchase is the one written into the sale contract, together with what the contract counts as handover, and section 9 lists both among the points to ask for in writing.

Counting the homes: 190, 118, 72, 63 and 9

In plain terms, “72 for sale” counts every flat the grid still shows, and “63 available” is the site’s own count once reserved flats are removed. A reservation can lapse or convert into a sale, so both numbers move. A buyer who needs a specific flat should ask for its status in writing on the day, as the grid is a snapshot rather than a contract.

Other figures that differ between sources

Several of these differences reflect different dates. The two that matter most for a purchase are the area basis, which is explained in section 3, and the plan-versus-grid gap for flat 6_1_11, because a registry area and a sales area can differ in a contract. A buyer can ask for the area schedule of the specific flat, with interior, balcony, terrace and garden shown separately.

Asking prices by unit type: USD, USD per m² and what the area includes

The apartments grid prints a USD price and an area for each of the 72 flats it lists, with a USD per m² figure that is the rounded price divided by the area. The table below groups the 63 unreserved flats by unit type, using the bedroom count and the area bands that appear in the grid. Reserved flats are counted in the “Flats listed (reserved)” column but left out of the ranges. These are asking prices on 12 November 2026 and change as flats are reserved and sold.

Source: m2.ge apartments grid. Prices are printed rounded to whole USD; per m² is the rounded price divided by the listed area. Ranges cover unreserved flats only.

The area in each row is the grid’s listed area, which is not the same as interior floor area. The unit plans show why. The plan for flat 5_1_29 reads 53.9 + 12.1 = 66.0 m², so 12.1 m² of its 66.0 m² is a balcony. The plan for the larger flat 5_0_6 reads 79.4 + 17.5 + 35.1 + 74.4 + 19.1 = 225.5 m², of which 71.7 m² is two terraces and a garden. Prices per m² in the grid for m2 at Mtatsminda Park Tbilisi are therefore prices per m² of gross area.

Gross area makes unit types easier to compare on one scale but harder to compare with figures quoted for interior area elsewhere. Across the 63 unreserved flats the area-weighted average is USD 2,178 per m², which is 5,647 lari per m² at the National Bank of Georgia’s rate of USD 1 = GEL 2.5933 on 12 November 2026 (NBG official rates). At the same rate the lowest asking price, USD 177,870, is about GEL 461,270 and the highest, USD 613,599, about GEL 1,591,246.

Read across the table, per m² prices run in three groups. One-bedroom flats with a balcony on floors 1 to 3 are the dearest per m² (USD 2,695 to 2,895) because they are small. The mid-sized two- and three-bedroom flats sit mostly between about USD 1,900 and 2,550. The unreserved top-floor three-bedroom flats are the lowest (USD 1,734 to 1,742), and section 4 shows that more than half of their listed area is terrace.

The grid does not show the effect of the cash discount. The project page says only that an all-cash buyer gets “a discount price”, with no percentage, so the USD figures above are the grid’s list prices and not necessarily what a cash or instalment buyer pays. The grid’s data also holds an internal discounted-price field that is not displayed anywhere on the page and is not used in this guide.

m2 at Mtatsminda Park Tbilisi: six buildings, gardens, terraces and duplexes

The developer’s site plan numbers the six buildings 1 to 6 and arranges them in two columns, Blocks 3, 2 and 1 down the left of the plan and Blocks 4, 5 and 6 down the right, with a landscaped strip between the columns. The page counts 190 homes over the six buildings, but it does not give per-building totals, only the unreserved counts per block and floor. The table below uses the 72 flats still listed in the grid.

Source: m2.ge apartments grid, 12 November 2026. Counts are flats still listed, not building totals.

Three patterns stand out. First, the listed flats are spread unevenly. Blocks 5 and 6 hold 36 of the 72 listed flats, while Block 3 lists seven and has no one-bedroom flat left. Second, the one-bedroom flats are all in Blocks 1, 2, 4, 5 and 6, and the only four-bedroom flat is in Block 6. Third, the cheapest flat, 5_1_29 at USD 177,870, and the dearest, 6_4_32 at USD 613,599, are in neighbouring Blocks 5 and 6.

Floor by floor

Source: m2.ge apartments grid, 12 November 2026; weighted average is total unreserved price divided by total unreserved area (calculated).

Floors 0 and 1 hold 47 of the 72 listed flats, including all 28 two-bedroom flats. Floor 2 and 3 flats are mostly small one-bedroom flats and 174 m² three-bedroom flats, and they carry the highest per m² prices. Floor 4 holds the six large three-bedroom flats and the four-bedroom flat; four of those seven are reserved. The grid indexes floors 0 to 4 for what the page calls five-storey buildings, and the index alone does not say which flats open onto a garden.

That is where the plans help. The plan for flat 6_1_11, on floor index 1, shows a 52.2 m² garden, so gardens appear on floor 1 as well as floor 0. The plan for the duplex 5_0_6 shows two levels, labelled 0 and 1, with a 35.1 m² garden on the lower level.

The project page names duplexes among the layouts and its finish list mentions a duplex staircase, but the grid has no duplex flag, so which of the larger three-bedroom flats are duplexes is a question for the price list.

How much of the listed area is terrace, garden or balcony

The room list that the apartments page carries for each flat includes an entry labelled Terrace for 49 of the 72 flats. For flat 6_1_11 that entry is 52.2 m², the figure the plan labels as garden, so the label appears to cover gardens and terraces alike. Balconies are not labelled in the room lists. The table shows the Terrace entries for the unreserved flats, and what the price per m² becomes if that entry is taken out of the area (a calculated figure, for comparison only).

Source: room lists in the m2.ge apartments data, 12 November 2026; the one-bedroom flats on floors 1 to 3, the compact two-bedroom flats and the 126 m² three-bedroom flats carry no Terrace entry and are not shown.

The top floor is the clearest case. The six large three-bedroom flats carry Terrace entries of 175.3 to 185.5 m², which is 53% of each flat’s listed area, and the four-bedroom flat’s entry of 135.4 m² is 46% of its 294.9 m².

Their printed USD 1,734 to 1,968 per m² therefore applies to a mix of interior and outdoor space. For the three unreserved top-floor flats, taking the terrace out of the area gives about USD 3,639 to 3,684 per m², against USD 2,247 to 3,093 for the other types in the table; the guide draws no conclusion from the gap.

None of this says what the terraces are worth or how they are finished. Two things follow for a buyer. A comparison of price per m² between flats is only meaningful if the interior and outdoor shares are similar. And a buyer who wants to compare with projects quoted on interior area needs the interior figure from the area schedule, not from the grid.

Three plans, split into interior and outdoor area

Source: plan images in the m2.ge apartments data (labels in Georgian), prices from the grid on 12 November 2026. Interior is the plan’s first figure(s); outdoor is the remainder; USD per interior m² is the asking price divided by the interior figure.

On these three plans, the asking price per interior m² is USD 3,245 to 3,480 and the outdoor share runs from 18% to 44%. Three plans are not the whole project, and the guide does not extend them to other flats. They show the order of magnitude: the grid’s USD 1,734 to 2,895 per m² describes gross area, and a buyer comparing interior prices with another development should expect a higher figure.

Payment terms, past offers and the “White frame +” finish

The project page gives three ways to buy: a single payment, a mortgage or an in-house instalment. For a single payment it says “In the case of all-cash payment, get a discount price” and prints no percentage. For the in-house instalment it prints an annual interest rate of 0%, a minimum down payment of 10%, a term “until the end of the building” and the purchased apartment as collateral. On mortgages, the page says the loan conditions “differ according to the bank’s current terms” and does not name a bank.

Two consequences of those lines are worth stating. The 0% rate is on the list price, and the cash buyer’s discount is unstated, so the effective cost of the instalment plan is whatever the cash discount is. That is a figure a buyer can request in writing and compute. And the term is tied to completion, not to a calendar date, so the date of the last instalment depends on the handover date that section 2 shows to be stated differently in different places.

Offers m2.ge has published for this project

The offers are listed for context only. None of them is shown as current on the project page, they carry different discounts and payment dates, and several are limited to a stated number of flats. A buyer should ask which terms apply to the specific flat on the day of reservation, and have them in the reservation form.

What “White frame +” lists, and what it does not

Source: m2.ge project page, specification section, 12 November 2026. The right-hand column lists what the printed list does not name, not what the flats lack.

For a flat here the list leaves a buyer with the fit-out of kitchen, bathrooms, floors, wall surfaces, interior doors and heating and cooling equipment still to specify and budget for. Geostat’s second-quarter 2026 price index release tracks Tbilisi new-build offer prices separately for white, green and black frame condition, which shows that the Georgian market treats the finish as a pricing category. How m²’s “White frame +” lines up with those categories is not stated on its page.

The page also lists amenities in the future tense or as developer opinion: a gym that “will be located” in the complex, a courtyard and landscaped recreation area, a children’s play area in the June 2026 offer, a complex manager, security, cleaning and green-area upkeep, fire and fresh-water reservoirs with a generator, lifts, and an electric vehicle for access to the funicular. Energy efficiency that “will reduce your utility costs” and compliance with an “international accessibility standard” are the developer’s claims and are not verified here.

Location of m2 at Mtatsminda Park Tbilisi: Okrokana, Mtatsminda Park and the road to the centre

The developer places the complex at 20 Innovation Street in Okrokana, “near Mtatsminda Park”, with “direct access to Innovations Street”. Mtatsminda is one of the administrative districts of Tbilisi, and Wikipedia lists Okrokana among the neighbourhoods of Mtatsminda District, together with Mtatsminda, Sololaki, Vera, Kiketi, Kojori and others. The developer’s data file also names the district as Mtatsminda.

A 2024 article on the Tbilisi Urban Forest programme describes Okrokana as a south-facing slope in a peri-urban settlement in the hills above Tbilisi, one of two pilot areas within the 700-hectare Mtatsminda territory, alongside Narikala Ridge. The article is about replanting and says nothing about this project. It is cited only for the character of the area as a hillside settlement above the city.

The park gives the project its name. Wikipedia describes Mtatsminda Park as a landscaped park at the top of Mount Mtatsminda at a height of 770 metres, on more than 100 hectares, connected both to a motorway in the Tbilisi to Okrokana direction and to a funicular built in 1905. The funicular runs between Chonkadze Street and the park, with its upper station at 727 metres and its lower station at 460 metres above sea level, per the same page.

A second link to the park is a cable car. Interpressnews reported on 19 October 2024 that a rehabilitated gondola line between Rustaveli Avenue and the park had opened, with 21 eight-seater gondolas, a journey of 4 minutes and a capacity of up to 1,200 passengers an hour in one direction.

The developer’s text speaks of the “funicular cable car” and says residents “will be served by an electric vehicle” for access to it. The page does not say which station the vehicle serves, who operates it, how often it runs or whether it is covered by the service charge.

The one distance the developer prints is “a 13-minute drive from Freedom Square”. The table gives that figure beside calculated ones. Straight-line distances use the coordinates on the developer’s project record (41.689212, 44.770222) and Wikipedia’s coordinates for each place; road distances and times come from the public OSRM routing service, which uses a static road network and no traffic, so peak-hour trips will differ.

Source: developer coordinates (m2.ge project record), Wikipedia coordinates, OSRM routes computed on 12 November 2026. Coordinates are not surveyed positions, so differences of a few hundred metres are within the error.

The developer’s 13 minutes and the routing service’s 13.8 minutes are close; the routing figure assumes free-flowing roads. The Realting figure of about 600 metres to Rustaveli does not match either, because the coordinates put the two points about 2.3 km apart in a straight line, and Okrokana is described as a hillside settlement. The guide does not decide which is right and notes that the Realting listing was last updated on 12 July 2024. A visit, or a map check on the exact address, settles it.

For scale, Geostat puts the population of Tbilisi at 1,369.4 thousand on 1 January 2026, of which 1,309 thousand live in urban settlements. Shops, schools, clinics and public transport stops nearer than the centre are not documented on the developer’s page, and the guide does not list any, because none could be verified from the sources read.

Where the asking prices sit against published Tbilisi price figures

Public figures for Tbilisi prices describe different things, so none is a direct benchmark for m2 at Mtatsminda Park Tbilisi or any other single project. Geostat’s quarterly index uses new-build offer prices gathered by web scraping from advertising sites; Galt & Taggart reports an average for the primary market; the m2.ge grid is a developer’s own list of what is left in one project. The table puts the numbers side by side with their definitions.

Two cautions apply. The Geostat district figure is in lari and from the first quarter, while the guide’s conversion of the m2.ge average uses the 12 November rate, so the two lari figures are not from the same date and the comparison is indicative only. And neither the Geostat nor the Galt & Taggart figure is defined on gross area including terraces, nor by finish, so the ratio of one to the other says little about any single flat.

Stated plainly: the m2.ge average of about GEL 5,647 per m² is below the Q1 Mtatsminda district figure of GEL 6,814 and above the Tbilisi primary-market average of USD 1,434, which is about GEL 3,719 at the same rate. Those relationships follow from the definitions above and are not a statement about value. The Geostat release for the second quarter of 2026 shows district prices only as charts and describes all its prices as offer prices gathered by web scraping, not transaction prices.

Buying, registering, taxing and financing a flat in Georgia as a foreign buyer

Residence rules are tied to the value of the property, so they come first. The Public Service Development Agency describes a short-term residence permit for an alien who holds title to immovable property, other than agricultural land, with a market value exceeding USD 150,000 equivalent in lari, established by a certified assessor. The Law on the Legal Status of Aliens and Stateless Persons states the same threshold for a D5 category visa. It is the assessed market value that counts, not the contract price.

Against that rule, all 63 unreserved flats in the grid carry asking prices above USD 150,000, as the lowest is USD 177,870. The agency page also describes an investment residence permit for property with a market value exceeding USD 300,000; 41 of the 63 unreserved flats are priced above that, and 22 at or below it. Asking prices are only a guide to an assessor’s figure, so this comparison is not a statement of eligibility. The guide to getting a residence permit in Georgia covers the application steps.

Ownership works the same way for foreigners and citizens for a city flat. Article 183 of the Civil Code requires the transaction to be in writing and the acquirer’s ownership right to be registered in the Public Registry. The one carve-out is agricultural land, which the Organic Law on Agricultural Land Ownership reserves in its Article 4 for the state, municipalities, citizens and certain Georgian entities. A flat in an apartment block is not agricultural land.

For the general rules, see the guides on whether foreigners can buy property in Georgia and on how to buy property in Georgia.

For a building not yet complete, the order of events follows the contract and the registry. The registry fee page lists registration of a change of right and registration of an obligation tied to an ownership right at the same three tariffs: GEL 150 in four working days, GEL 270 in one working day and GEL 350 on the day of filing.

At GEL 2.5933 per USD these are about USD 57.8, USD 104.1 and USD 135.0. The fee depends on the speed chosen, not on the price of the flat.

A buyer abroad has two common routes. One is a power of attorney legalised for use in Georgia; the Hague Conference status table lists Georgia as bound by the Apostille Convention from 14 May 2007. The second is the registry’s online smart-contract service: the parties book a virtual meeting and the rights are registered remotely. Whether the developer works with either route is worth confirming in writing.

Property tax on individuals changed on 30 September 2026. The English text of the Tax Code on matsne.gov.ge now cites Law No. 1874 of that date among its amendments. Article 202(5) sets the rate on a natural person’s taxable property other than land at not less than 0.8% and not more than 1% of its market value at the end of the previous year. Article 206(1)(a) exempts that property if the family’s income in the previous year did not exceed GEL 100,000.

The EY Georgia brief for July to September 2026 says the earlier threshold was GEL 40,000, so guides written before that date carry older figures. Article 201(1)(c.a) covers real estate “including an unfinished construction” owned by a natural person; whether an off-plan buyer counts as the owner for this purpose depends on the contract and the registry record.

Under Article 205 a natural person files by 1 November and pays by 15 November, and the Revenue Service page offers a 2026 calculator. Filing steps are set out in the guide to property tax in Georgia.

For income and sales, Article 81 taxes rent from residential space at 5% where the individual makes no deductions, taxes the surplus from the sale of a residential apartment at 5%, and sets a general personal rate of 20%. Article 82(1)(f.a) exempts that surplus where the apartment was owned for more than two years. VAT is 18% under Article 166, and whether a quoted price includes it is a contract term.

On financing, the National Bank of Georgia sets a loan-to-value limit of 90% for loans in lari and 70% for foreign-currency loans. Payment-to-income limits are 25% (lari) or 20% (foreign currency) for net monthly income below GEL 1,500, and 50% or 30% from GEL 1,500. Each bank sets its own terms for non-residents, and the m2.ge page names no partner bank, so a buyer would ask the developer which banks have approved the project. Mortgage practice for non-residents is covered in the guide to mortgages for foreigners in Georgia.

What to ask for in writing before reserving

The developer’s pages for m2 at Mtatsminda Park Tbilisi leave several points open, as the earlier sections show. The list below turns each into a document or a written answer that a buyer can request before paying. Some points belong in the reservation form and the rest in the sale contract, and the flat’s block, floor and number (for example 5_1_29) is the anchor for each of them.

1. The price list with block, floor, flat number, area and price for every flat on offer, its issue date, and whether the flat is among the 63 unreserved ones or the nine reserved ones.
2. The area schedule for the flat: interior, balcony, terrace and garden in separate lines, the area that the contract and the registry will use, and the reason for any gap such as the 4.5 m² between the plan and the grid for flat 6_1_11.
3. The handover date written into the contract, what counts as handover, and what the contract provides if the date is not met; the pages print 2026 and earlier offers print other dates.
4. The full legal name and registration details of the entity that signs the contract and of the owner of the land plot, and the cadastral code of the plot.
5. A Public Registry extract for the plot showing owner, encumbrances and registered obligations, and the construction permit for the building that holds the flat. The developer’s page does not publish a permit.
6. The payment schedule, the bank account or escrow arrangement that receives each instalment, and what is refunded if a reservation does not proceed.
7. The exact finish for the flat: which items of the “White frame +” list apply, which items the list does not name (radiators, boiler, indoor air-conditioning units, fixtures, floor and wall surfaces, interior doors), and the surface and railing of any terrace or garden.
8. For the in-house instalment: the full text of the plan, the cash price against the list price so the effective cost of the 0% plan can be calculated, the collateral wording and what happens if a payment is missed.
9. For a mortgage: which banks have approved the project and on what terms, since the project page names none.
10. Whether the price includes VAT, registration fees, the power of attorney and any charge for connecting gas, water, electricity and internet.
11. The service-charge schedule, what it covers (complex manager, security, cleaning, green-area upkeep, lifts, generator), and when it starts.
12. The timetable for the gym, the courtyard, the play area and the electric-vehicle service to the funicular or cable car: the station it serves, who operates it, its timetable and its cost.
13. The current status of the flat on the day of reservation, in writing, because the grid is a snapshot and the page counts 72 listed against 63 unreserved.
14. If signing from abroad: whether the developer accepts an apostilled power of attorney or a booked registry meeting.

These are the usual questions for any off-plan purchase and say nothing about the project’s standing. Keeping the written answers together with the reservation form gives a buyer a like-for-like basis for comparing developers.

How m² at Mtatsminda Park compares with other Tbilisi listings

The developer itself has two other projects on its projects page, m² Highlight in Saburtalo and m² at Mirtskhulava in Didube, and the table shows them beside this project and beside other Tbilisi listings in the Georgia portfolio (see also the Tbilisi city page). Figures for the m² projects are per m2.ge on 12 November 2026; the other rows are as recorded in each listing’s own guide. No project is presented as better than another.

Two points of comparison follow from the table. The other m² projects print their prices in the same grid format, so their asking prices can be set beside this project’s on the same basis, while the Archi and Orbi rows print none and rely on portals, which this guide does not treat as the developer’s prices. And this project’s grid mixes flats with private gardens and large terraces with flats that have only a balcony, which changes what a per m² comparison means (section 4).

One more detail concerns the developer’s own lists. The projects page shows three current projects, while a m2.ge offer dated 30 September 2026 names six as current: m³ Saburtalo, m² Highlight, m² at Mirtskhulava, m² at Chkondideli, m² at Nutsubidze 2 and m² at Mtatsminda Park. The pages differ in what they count as current; this guide covers only the three on the projects page.

m² (developer)

The developer is JSC m2 Real Estate, trading as m², of Tbilisi. Its USD bond prospectus states that the company “was founded in September 2006 by JSC Bank of Georgia” and that, as of 30 June 2019, it had completed ten residential development projects with 2,855 apartments, 99% of them sold, with two projects under construction. Those figures are the prospectus’s, at that date, and the guide has no later project totals.

On ownership, Georgia Capital PLC’s announcement of 5 June 2026 says it sold its housing development business, m2, to local investors; it names no buyer and no price. The company’s own press release, published by Georgia Today on 9 June 2026 and also on the m2.ge insights page, says a transaction completed on 5 June 2026 and that Lasha Kvachadze and Dimitri Adamia became the owners, with Dimitri Adamia as Chief Executive Officer.

The release describes Lasha Kvachadze as the founder of Blockstone Capital, a diversified investment group. No registry extract was opened to confirm the ownership.

The m2.ge projects page lists three current projects: this one, m² Highlight and m² at Mirtskhulava. The project page for the complex names the developer’s brand but not the legal entity that will sign sale contracts for these homes, and a buyer would ask for that name in writing (section 9). Phone numbers and e-mail addresses on m2.ge are not reproduced here.

Frequently asked questions

Where is m2 at Mtatsminda Park Tbilisi and how far is it from central Tbilisi?

The complex is at 20 Innovation Street in Okrokana, in Tbilisi’s Mtatsminda district, next to Mtatsminda Park. The developer states a 13-minute drive from Freedom Square. A routing service gives about 6.7 km and 13.8 minutes without traffic, and the straight-line distance is about 2.65 km. Peak-hour trips can take longer. The developer’s page does not print a metro distance, and a portal’s figure of about 600 m to Rustaveli station does not match the coordinates.

How many flats are available at m2 at Mtatsminda Park Tbilisi?

On 12 November 2026 the developer’s counters showed 118 of 190 homes sold. The apartments grid listed the other 72, of which nine were flagged Reserved, and the site’s own availability count was 63. So “72 for sale” counts every listed flat and “63 available” excludes the reserved ones. Both change as flats are reserved and sold, so a buyer should ask for the status of a specific flat in writing.

What do the flats cost and what does USD per m² cover?

Unreserved flats were priced at USD 177,870 to 613,599 on 12 November 2026, which is USD 1,734 to 2,895 per m². The area behind each figure is gross: it includes balconies, terraces and gardens. For example, flat 5_1_29’s 66.0 m² is 53.9 m² of interior and a 12.1 m² balcony. The prices are asking prices and the page says a cash buyer gets an unstated discount.

When will the buildings be handed over?

The project page says “Buildings I-VI – 2026 year”. A m2.ge offer dated 30 August 2025 says completion was planned by the end of 2025, and a portal lists the year of construction as 2025. The sources do not agree and no completion notice was found on m2.ge on 12 November 2026. The date that binds a buyer is the one in the sale contract, so it should be requested in writing together with the definition of handover.

What does “White frame +” include?

The project page lists an iron entrance door, double-glazed aluminium windows, plastered block partitions, screeded floors with sound insulation, plasterboard ceilings, heating pipes for radiators, an outdoor air-conditioning unit connection, gas, water and electricity meters and wiring. It does not name radiators, a boiler, indoor air-conditioning units, fixtures, floor or wall surfaces or interior doors, so a buyer should budget for the fit-out and ask for the flat’s exact specification.

How does the in-house instalment plan work?

The project page prints a 0% annual interest rate, a minimum 10% down payment, a term until the end of construction and the purchased apartment as collateral. It also says all-cash buyers get a discount price without giving the percentage. The effective cost of the 0% plan is therefore the cash discount, which a buyer can ask for in writing. Dated offers on m2.ge show other schedules, but none is shown as current on the project page.

Can a foreigner buy a flat here and register it?

A foreigner can own a flat in Georgia on the same footing as a citizen, and only agricultural land is restricted. Article 183 of the Civil Code requires a written transaction and registration in the Public Registry. A buyer abroad can use an apostilled power of attorney or the registry’s online smart-contract meeting. The registration fee is GEL 150, 270 or 350 depending on speed. For this project the contract and payment schedule govern the order of events.

Does a flat here meet the Georgian residence-permit property threshold?

The rule is that property other than agricultural land must have a market value exceeding USD 150,000 equivalent in lari, set by a certified assessor. All 63 unreserved flats carry asking prices above that figure, but the assessor’s valuation, not the price, decides, and each case is for the Public Service Development Agency. The agency also describes a permit for property exceeding USD 300,000; 41 of the 63 asking prices are above that.

What property tax applies to an individual owner?

Since 30 September 2026 a natural person’s property other than land is exempt from property tax if the family’s income in the previous year did not exceed GEL 100,000. Above that, the Tax Code sets a rate of 0.8% to 1% of the property’s market value at the end of the previous year. Filing is due by 1 November and payment by 15 November. Whether an off-plan buyer counts as the owner is for the contract and registry record.

What should I ask for in writing before reserving at m2 at Mtatsminda Park Tbilisi?

The key items are the price list with flat numbers and the flat’s current status, an area schedule separating interior from balcony, terrace and garden, the handover date in the contract, the full name of the contracting entity, the construction permit and registry extract, the payment schedule and escrow, the exact finish, and the instalment terms with the cash price. Section 9 gives the full list.

Sources and last check

Last checked: 12 November 2026. Sources:

• m2.ge: m² at Mtatsminda Park, project page (read 12 November 2026)
• m2.ge: m² at Mtatsminda Park, apartments grid (read 12 November 2026)
• m2.ge: offers page (read 12 November 2026)
• m2.ge: insights (news) page (read 12 November 2026)
• m2.ge: projects page (read 12 November 2026)
• m2.ge: m² Highlight, apartments grid (read 12 November 2026)
• m2.ge: m² at Mirtskhulava, apartments grid (read 12 November 2026)
• Georgia Capital PLC: Disposal of the housing development business, 5 June 2026
• Georgia Today: m² Enters a New Stage of Development, 9 June 2026
• JSC m2 Real Estate: USD bond prospectus (figures as of 30 June 2019)
• Geostat: Residential Property Price Index, II quarter of 2026 (23 July 2026)
• Business Insider Georgia: Residential real estate prices rise in Tbilisi in Q1 2026 – Geostat, 23 April 2026
• Geostat: Number of population as of 1 January 2026 (24 April 2026)
• GBC: USD 3.2 BLN worth of real estate sold in Tbilisi in 3Q26 – G&T (Galt & Taggart, September 2026 data)
• GBC: Real estate sales in Tbilisi reach $2 billion – G&T (Galt & Taggart, June 2026 data)
• Georgia Today: G&T: Tbilisi residential market has a strong start (Galt & Taggart, February 2026 data)
• Georgia Today: Exploring the Tbilisi Urban Forest project by Ruderal, 17 October 2024
• Interpressnews: A cable car connecting Rustaveli Avenue with Mtatsminda Park has opened, 19 October 2024
• Wikipedia: Mtatsminda Park (facts and coordinates)
• Wikipedia: Mtatsminda District (neighbourhood list)
• Wikipedia: Freedom Square, Tbilisi (coordinates)
• Wikipedia: Rustaveli (Tbilisi Metro) (coordinates)
• Wikipedia: Station Square (Tbilisi Metro) (coordinates)
• Wikipedia: Tbilisi International Airport (coordinates)
• Project OSRM: routing service used for road distances
• Tax Code of Georgia, English text (matsne.gov.ge)
• Civil Code of Georgia, Article 183 (matsne.gov.ge)
• Organic Law on Agricultural Land Ownership (matsne.gov.ge)
• Law on the Legal Status of Aliens and Stateless Persons (matsne.gov.ge)
• NAPR: immovable property registration fees and terms
• NAPR: informational services fees
• NAPR: smart-contract registration service
• Hague Conference on Private International Law: Apostille Convention status table
• Public Service Development Agency: residence permits
• EY Georgia: Tax and Law Brief, July to September 2026
• Revenue Service of Georgia: property tax calculator and page
• National Bank of Georgia: PTI and LTV requirements
• National Bank of Georgia: official exchange rates (USD 1 = GEL 2.5933 on 12 November 2026)

This is not legal, tax or financial advice.