Georgia or Sakartvelo is a country in Eastern Europe, on the southeastern coast of the Black Sea. The country is a member of the Council of Europe, Eurocontrol, OSCE and Organization for Democracy and Economic Development.
In the west of the country the climate is subtropical, in the east - transitional from subtropical to temperate. The average temperature in January is from +3 to -2°C, in August from +23 to +26°C.
The economic activity of the country is focused on the cultivation of agricultural products, the extraction of minerals and the production of beverages, as well as metals, machinery and chemicals. Tourism in Georgia is an important component of the country's economy. International tourism is becoming a fast growing industry (approximately 61.4% of Georgia's service export revenue comes from tourism).
Advantages of living and investing in Georgia:
- climate and nature. Due to the diverse nature, extreme tourism, mountaineering and beach holidays coexist in this country (it all depends on the area);
- home atmosphere, comfort and unique living conditions. Georgia is the most hospitable of all Caucasian countries, populated by people famous for their great benevolence, amazing traditions and legends, noisy feasts;
- the possibility of obtaining a residence permit and citizenship of Georgia through the purchase of real estate;
- fast payback. When buying an apartment, an investor can count on a rental income of 10-15% per annum (if the square meters are located in the center of a large city);
- affordable cost of secondary housing and cost of living;
- good business climate. Georgia is in the top 50 countries with low levels of corruption, and the government regularly implements reforms aimed at liberalizing the economy and reducing bureaucratic procedures for business;
- low taxes. There is no real estate tax in Georgia. Property tax is levied on individuals registered in the country as taxpayers;
- excellent infrastructure. Comfortable living conditions have been created in large cities of the country, transport and urban infrastructure has been developed, combining medical, educational and social institutions with tourist and cultural objects.
How to profitably buy an apartment in Georgia: offers on the market
The secondary real estate market in Georgia is actively developing: there are many tourists and a pleasant climate even in winter, so apartments are in demand all year round. If we consider buying an apartment in Georgia as an investment, then it should be taken into account that the demand for long-term rentals is constantly growing, as more and more foreigners, especially CIS citizens, come here for a long term or for holidays.
Georgian banks willingly issue loans and installments for housing to foreigners, and in any currency, regardless of citizenship.
Apartments in the most picturesque and touristic places of the country are in great demand among potential buyers for the purpose of further rent. Popular cities are: Tbilisi, Batumi, Kutaisi, Gudauri, Rustavi, and Bakuriani.
Apartments in Batumi attract investors with the unique nature of the city, the presence of the sea with well-groomed beaches, the opportunity to make high profits from renting out housing. The resort presents both inexpensive one-room studios at a favorable price, and elite apartments by the sea with panoramic views. It is profitable to buy housing in Tbilisi for young professionals, businessmen, and couples with children. A wide range of quality apartments is available here (two-room, elite three-room apartments in the center).
Website for buying and selling apartments in Georgia
The GEOLN.COM website with a user-friendly search interface helps investors find and buy apartments in Georgia inexpensively. You can quickly and easily select an apartment according to the required parameters without intermediaries and use the advice of specialists. The catalog contains verified objects of the city, which are placed on the site by homeowners on their own.
The cost of an apartment in Georgia
Apartment prices in Georgia have increased, but still remain significantly lower than in many European countries. On the secondary market, the average cost of an apartment with repairs, furniture and appliances (in the middle segment) is 1100-1200 USD per 1 sq.m.
The average cost of a one-room apartment in the capital starts from 30 thousand dollars. A two-room apartment can be purchased from 40 thousand dollars, a three-room apartment in Tbilisi will cost more than 50 thousand dollars.
Apartments with a sea view in Batumi cost from 60 thousand dollars (the secondary will cost 650-1200 dollars per square meter, on average, a one-room apartment in the depths of the city is about 25 thousand dollars, in the center - within 40 thousand).
One-bedroom apartment in Kutaisi can be bought inexpensively (from 20 thousand dollars in old buildings).
Cheap apartments in Georgia and great deals can be found on the secondary market in small towns.
How to buy an apartment in Georgia: the nuances of investing
The procedure for buying and selling housing in Georgia is clearly regulated by law and the process of concluding a transaction is transparent. Citizens of other countries can freely buy an apartment. Information about transactions with secondary real estate is available in the Public Register. It is advisable for non-residents to protect themselves by checking the data on the cadastral code. Before buying (especially remotely), we recommend not only viewing the photo of the selected object, but also reading the reviews of the residents of the house.
The purchase of real estate by a foreigner in the amount of 100 thousand dollars or more gives the right to apply for a residence permit in the country for the whole family.
We suggest that you seek qualified assistance from specialists to minimize risks and losses. GEOLN experts carry out a high-quality selection of an apartment from the owners according to individual parameters. The purchase and sale of apartments in Georgia is accompanied by professionals who provide the preparation of the necessary documents, the complex execution of transactions.
Buying a house in Georgia is a profitable investment, which can be payed off by renting the property out quickly, it brings a stable profit, and contributes to obtaining a residence permit and citizenship under the investment program.