Dear readers, today we will answer the most frequent questions that are sent to independent experts of GEOLN by investors and clients. Together we will understand whether it is necessary to become an owner of real estate in Georgia? What nuances should be taken into account and is it possible to make money on the growing trend of Georgian real estate?
Georgia – a growing trend and a second Dubai?
Georgia! We have all heard about Georgian hospitality, incredible nature and unique wine. From time immemorial, we remember about the best health resorts of the CIS countries such as Borjomi, Magneti, sunny city of Batumi and ski resorts of Bakuriani, Gudauri. There are many reasons to visit this country.
But the importance of Georgia and the relevance of investment issues for today are the following factors:
- the highest safety ratings in Europe and the world;
- lack of bureaucracy and quality work of public services;
- development of the country in all directions;
- the economic growth;
- the 17th position in the ranking of Doing Business
- the World ranking of business comfort;
- the growth of tourism, etc.
Georgia is a diverse and self-sufficient country, which is at the stage of development. All of the above factors have a positive impact on the domestic investment climate, which allows attracting investors in various business sectors, in particular in the real estate sector.
The trend of purchasing real estate by non-residents of the country is growing rapidly every year. The demand stimulates the growth of the market, which in turn contributes to more rapid development. So there was a new type of real estate in the Georgian market - apart-hotels.
What is the uniqueness of the property type apart-hotel?
This is a new real estate product, which provides a full cycle from the creation of the concept to its implementation in life and provides income from the rental of hotel apartments.
How does this happen?
As follows, one project – a hotel, has many owners, that is, existing rooms are sold to different investors. After the acquisition, at will, the owner signs a contract of receiving and transferring the management to the management company for renting out.
Next, all the responsibilities are assumed by the management company. Starting from the service, filling the rooms, security, search for customers, settlement and until the transfer of money to the account of the owner of the apartment. If you are considering buying a property for the purpose of generating income, it is worth paying attention to this type of real estate.
Do not worry about how a non-resident of Georgia, without knowledge of the language and features of the real estate market, can choose suitable objects for investment. The specialists of GEOLN have already taken care of everything and collected up-to-date offers from proven developers in one place. You only need to open the offer page at the link – https://geoln.com/buildings/georgia , select the necessary filter settings and compare offers with each other using the corresponding system functionality-Favorites.
Do not ignore the opportunity to buy property in modern, developed cities such as Tbilisi, Batumi. Real estate in Tbilisi generates income year-round, as in the capital of Georgia is constantly a lot of tourists and the business community.
Since 2008, there have been many positive changes in Georgia that have contributed to attracting foreign investment. Legislative reforms, business benefits, tax advantages, special conditions for non-residents.
Today, residents of 109 countries have gained access to the Georgian real estate market. Since 2012, the number of transactions made by foreigners is growing annually by 40-50%. In 2014, foreigners purchased 18.96 thousand objects in Georgia, which is the peak in the history of the country's real estate market.
The most popular markets for foreigners in Georgia are Tbilisi and Batumi, which account for more than 60% of all real estate transactions. In addition, Georgia is the only country in the East where gambling is allowed. For example, Batumi already has 20 casinos, it is planned to open 10 more, which will make the city the 4th largest gaming center in the world.
This fact shows that the increased flow of tourists to the city of Batumi has a positive impact on the opportunities for the development of new business areas, real estate transactions, in particular, the organization of income from renting. Residents of the CIS countries, against the background of stagnation of national economies and the housing market, have become very active to show interest in the acquisition of foreign real estate.
What prospects do foreign investors see when buying real estate in Georgia?
There are actually many prospects, but the main ones are the simplicity of sale and purchase transactions, the absence of real estate tax, high profitability, affordable credit conditions, and profitability when renting out real estate.
How to choose a property to purchase?
To find the right property for you individually in Georgia, use the functions of comparing the advantages of different types of new buildings, apart-hotels, another real estate from the GEOLN system. When you have selected the necessary real estate options, consider visiting the selected properties on a special tour of new buildings in Georgia. In case of purchase of real estate, the tour to Georgia will be free. This is a unique opportunity to combine the pleasant - a great vacation and familiarity with the country, with the useful - an investment in real estate that brings income. For more information about the tour, see the link - https://geoln.com/tour/
Even more advantages...
Pros and cons of a property, the profitability and cost of maintaining real estate abroad, and much more, you can find out on the website GEOLN by selecting the appropriate country.