Georgia’s real estate market is growing. Investments in the construction sector did not stop even during the pandemic. Let’s tell you how to buy an apartment in Georgia | Sea Inside
The construction boom in Georgia, which began several years ago, continues. This is most noticeable in Tbilisi and Batumi. There are a lot of ready-made and under construction housing on the market at attractive prices. Some doubt that buying an apartment in Tbilisi is easy and simple. Let’s dispel this myth.
Several factors make local real estate affordable. The first is a favorable price-quality ratio: housing in a new building built in compliance with international standards can be bought for $ 30 thousand. The second is the ease of registration. You can arrange an apartment or a house in 20 minutes in the House of Justice. And, perhaps, the most important factor is the absence of a tax on the purchase and ownership of real estate. The owner is obliged to pay the tax only if he plans to rent out the house and earn on it. In this case, the payment to the state budget is 5% of the annual earnings.
What to do with real estate in Georgia
There are more and more foreigners among the buyers. 40% of apartments and houses purchased by foreigners in 2015-2021 are owned by Russians: they bought about 10,000 objects. Foreign citizens buy real estate for the purpose of investment and earnings. They are especially willing to buy houses in Tbilisi. Elite housing in the resort of Batumi on the Black Sea coast is also in great demand. The number of tourists coming to the country increases annually by 15-20%. This ensures a high demand for apartments in Batumi, which means that it makes it possible to consistently make a profit from renting.
How to find an affordable apartment in Georgia? There are several search options.
- Search on specialized websites with sales announcements. There are several such platforms in Georgia. Most of them have a version in English and Russian. Such a search has one drawback: sometimes there are old ads that have lost relevance.
- Ask your friends. If you have friends living in Georgia, you can ask them about the details, nuances, advantages of a particular area of the city.
- Walk around the areas of interest and try to find an ad for sale locally. This advice will be useful for what is in Georgia.
- Contact a single broker. The demand for the purchase of real estate has led to the emergence of demand for intermediaries, including individual ones.
- Contact a professional experienced agency. Sea Inside owns a large database of ready-made and under construction residential complexes in Tbilisi, Batumi, Gudauri. Remote purchase is available.
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