Commercial real estate in Georgia is moving from a “niche for locals” to a serious asset class for global investors. Commercial real estate Georgia now includes a growing mix of modern offices in Tbilisi, high‑street retail in major cities, and hotel projects in Batumi and resort regions, all supported by strong GDP growth and rising tourism. For investors, the key questions are simple: where is the demand, what ROI is realistic, and how to choose the right segment – offices, shops, or hotels.

Market Overview

Georgia’s economy has been among the fastest‑growing in the region, with GDP expanding by around 9–10% in 2024–H1 2025, driven by trade, services and tourism. This growth directly supports commercial real estate Georgia, especially in Tbilisi and Batumi, where companies need offices, retailers expand footprints, and hotels absorb tourist flows.

According to Statista, the commercial real estate market in Georgia is valued at roughly 34 billion USD in 2025 and is projected to reach over 42 billion USD by 2030 with annual growth above 5%. TBC Capital and Cushman & Wakefield highlight three core trends:

• rising demand for quality office space in Tbilisi;
• steady expansion of shopping centers and street retail;
• higher returns in hotel and hospitality projects compared to residential rentals.
  

Office Spaces in Tbilisi

Tbilisi is the country’s business and financial hub, and offices in Tbilisi form the backbone of Georgia’s modern commercial market. Cushman & Wakefield reports that new A‑class business centers such as Illiyard (Vake), Moedani Hive (Avlabari) and projects in Saburtalo have pushed total supply up, with vacancy rising in some A‑class schemes but tightening in good B‑class buildings. In Q2 2025, average asking rents in prime A‑class offices were around 30–31 USD per sq.m per month, while B‑class averaged roughly 23 USD per sq.m, with some reports placing typical B‑class closer to 15–23 USD depending on location and fit‑out.

Vacancy dynamics tell an important story for investors. Cushman & Wakefield notes A‑class vacancy around 26% in early 2025 due to a wave of new supply, while B‑class vacancies tightened from about 6% to 3% by late 2024 as demand shifted to well‑located, cost‑efficient options. TBC Capital’s 2024 report shows average office rents in Tbilisi at 23.4 USD per sq.m with a 5.9% year‑on‑year increase, reflecting sustained demand from IT, outsourcing, and professional services. From Sea Inside’s experience, this creates two clear strategies: income‑focused investors gravitating to stabilized B‑class in strong districts, and value‑add investors looking at under‑managed A‑class assets with room for lease‑up.

Retail and Shopping Locations

Retail is another pillar of commercial real estate Georgia, particularly in Tbilisi and Batumi. Cushman & Wakefield reports that average prices for retail premises in Tbilisi reached about 1 464 USD per sq.m in H1 2025, with a pipeline of around 150 700 sq.m of new malls and outlets under development. TBC Capital notes that average rents in Tbilisi shopping centers hit roughly 24.1 USD per sq.m in 2024, a 7.4% increase year‑on‑year, while vacancy in business centers and major schemes declined to around 12%.

Demand is strongest for:

• street‑level shops on the first floors of new residential buildings;
• units in high‑footfall shopping centers;
• F&B locations in busy districts and tourist zones. According to PB Services, annual income from commercial units ranges roughly from 7% for restaurants up to 12% or more for well‑positioned retail space in Tbilisi and Batumi, with commercial rents per square meter often two to three times higher than residential. For Sea Inside clients, this means that a small, correctly located shop can match or beat the ROI of multiple residential units, but only if tenant quality and lease terms are well‑structured.

Hotel Investments in Batumi

If offices belong to Tbilisi, hotels clearly belong to Batumi and the coastal cities. Hotels investment Batumi has outpaced residential returns in recent years as the city shifts from pure housing boom to more balanced tourism‑led growth. Galt & Taggart and sector reports show that while residential yields in Batumi slipped from about 10% gross to around 7.4% before expenses as prices rose faster than rents, hotel projects continued to deliver double‑digit returns.

According to analytical overviews, branded hotels in Batumi achieved occupancy of roughly 68–71% between 2022 and 2024, with average daily rates climbing and net returns often reaching 10–17% annually for well‑run properties. Batumi’s luxury hotel segment in particular shows strong ADR (around 120–130 USD) and diversified demand from Asia, the Middle East, Eastern Europe and the UK, reducing reliance on any single source market. Sea Inside sees growing investor interest in hotel rooms and branded apart‑hotel concepts, where buyers purchase individual units but benefit from professional management and a shared hospitality brand.

Profitability and ROI

For investors comparing different segments of commercial real estate Georgia, returns and risk profiles vary:

• Offices in Tbilisi

• Typical gross yields often fall in the 7–10% range depending on building class, tenant mix and location.
• Long leases (3–5+ years) with corporate tenants provide income stability but require more due diligence on covenant strength and building quality.
  • Retail and shops
• PB Services estimates 7–12% annual income from commercial units, with top‑tier retail sometimes exceeding this range in busy urban locations.
• Tenant turnover and sector risk (FMCG vs. fashion vs. F&B) matter; the fast‑growing FMCG segment in Georgia is expanding revenues by 16–20% annually, driving demand for neighborhood stores and supermarkets.
  • Hotels in Batumi and resort projects
• Residential rentals in Batumi now yield roughly 7–8% gross, while hotel investments can reach 10–14% net ROI in well‑located projects.
• Some branded schemes market guaranteed returns around 10% in USD with upside to 14–17% based on performance, significantly above typical residential yields.

From the Sea Inside perspective, offices and retail often suit investors seeking stable, multi‑year cash flow, while hotels and hospitality projects appeal to those willing to accept higher operational risk for potentially higher ROI. Combining one “stable” commercial asset with a more dynamic hotel or apart‑hotel exposure is a common portfolio approach.

Where It Makes Sense to Invest

When deciding where to open a business or buy to lease, it helps to match city and asset type:

• Tbilisi – offices and urban retail

• Best for head offices, co‑working, medical and educational centers, and high‑street or mall‑based retail.
• Strong fundamentals: largest labor market, most diversified economy, growing demand from IT and professional services.
  • Batumi – hotels, apart‑hotels, tourist retail
• Strong fit for hotel rooms, branded apart‑hotels, and street retail targeting tourists (cafés, convenience stores, services).
• Residential ROI is moderating, while professionally managed hospitality assets still show attractive yields.
  • Secondary cities and regions
• Niche opportunities around logistics, warehouses, and tourism clusters (wine tourism in Kakheti, ski resorts like Gudauri and Bakuriani).
• Typically higher risk and more specialized – suitable for investors with a clear operational plan.

Sea Inside often advises clients to start with a core asset in Tbilisi or Batumi, then gradually expand into more specialized segments once the local market and regulations are well understood.

Conclusion: Practical Tips for Investors

Commercial real estate Georgia offers a mix of growth and income, but each segment—offices, shops, and hotels—behaves differently and requires a tailored strategy. Offices in Tbilisi benefit from rising corporate demand and relatively transparent rent benchmarks, while hotels investment Batumi is driven by tourism and can outperform residential yields when managed professionally. Retail stands in the middle: strong potential in prime locations, but sensitive to tenant selection and consumer trends.

For investors considering their next move, Sea Inside specialists usually recommend:

1. Start with clear goals– income vs. capital growth, active vs. passive involvement.
2. Compare segmentsusing realistic ROI ranges (not brochure promises) and local vacancy and rent data from sources like TBC Capital and Cushman & Wakefield.
3. Focus on management quality– a good operator or property manager often makes the difference between “average” and “excellent” performance.

With disciplined analysis and local support, commercial real estate Georgia can become a solid part of a diversified international portfolio, whether through offices in Tbilisi, retail units, or hotels investment Batumi aligned with the country’s long‑term tourism and economic growth.

The rental market Georgia has moved from “nice extra income” to a serious investment tool, especially in Tbilisi and Batumi where gross yields around 7–8% are still above most European averages. To turn this potential into stable profit, landlords need to understand formats, taxes, platforms and basic property management – not just buy an apartment and hope for the best.

Types of Rental Properties

For landlords, Georgia offers three main formats of rental properties:

• classic residential apartments (studios, 1–2 bedroom units);
• serviced apartments and apart‑hotels;
• commercial units (shops, offices) used as income add‑ons to a residential portfolio.

Most individual investors focus on residential units, where data is the clearest. Global Property Guide puts average gross rental yields in Georgia at about 7.53% in early 2025, with Tbilisi averaging 7.78% and Batumi 7.28%, depending heavily on district and apartment size. Smaller units often perform better: in 2025, studios in affordable Tbilisi districts like Didi Digomi and Nadzaladevi exceeded 8–10% gross yields, while compact 1‑bedroom apartments in Batumi could exceed 8% in some areas.

Long-Term vs. Short-Term

When it comes to strategy, landlords tips in Georgia usually start with one choice: long‑term vs. short‑term rentals.

Long‑term rentals in Tbilisi are described by local analysts as “unsexy but beautifully reliable”: they attract students, expats and families for 12‑month leases, providing stable cash flow with fewer “mood swings”. Districts like Saburtalo, Vake and central areas see consistent year‑round demand, and yield analyses show long‑term gross returns around 6–8% depending on purchase price and fit‑out.

Short‑term rentals – Airbnb, Booking and similar platforms – can deliver higher peak income but at the cost of volatility and work. In Batumi, studies comparing Airbnb performance in Batumi vs. Tbilisi show that many hosts earn a large share of their annual revenue in July–August, while the rest of the year is much quieter. ExpatHub and other guides note that well‑managed short‑term units can outperform long‑term by a few percentage points of gross yield, but only if occupancy is actively managed and pricing is dynamic across seasons.

In practice, Sea Inside often sees landlords using a hybrid model:

• long‑term tenants in Tbilisi for baseline stability;
• short‑term focused units in Batumi or on the coast to capture high‑season upside.
  

Legal Requirements

The good news for landlords is that property management Georgia operates in a relatively simple legal and tax environment. Foreigners and locals have the same rental rights: you can rent out your apartment to individuals or companies with a standard lease contract, with no special licensing for long‑term residential lettings.

For short‑term rentals and apart‑hotels, regulation has been tightening but remains workable. In major cities and resort zones, local authorities can introduce building‑level or zoning rules, and some complexes require owners to sign unified rental agreements with one management company to avoid “hotel chaos”. Landlords should also consider:

• registering as a 5% rental taxpayer for residential income;
• including clear house rules and damage clauses in contracts;
• complying with building regulations (fire safety, noise, guest registration where required).

Sea Inside’s lawyers typically advise new landlords to have bilingual (Georgian + English) lease templates and to register key agreements formally when large sums or long terms are involved.

Managing Tenants

Good yields are not only about buying well – they depend heavily on how you manage tenants.

For long‑term rentals, practical tips include:

• Screen properly– request proof of income, previous landlord references when available, and at least one month’s deposit.
• Use clear contracts– specify rent amount, payment date, utility responsibility, indexation rules and inspection rights.
• Choose tenant profile for the area– students and young professionals fit central and Saburtalo units, while families often prefer quieter districts with schools and parks.

For short‑term rentals, platforms dominate operations:

• Airbnb and comare the core for tourist rentals in Tbilisi and Batumi, with Airbnb generally stronger in foreign traffic and Booking effective for regional guests.
• Other channels include local portals (ge, MyHome.ge) and niche booking sites used by digital nomads.

Many foreign owners choose to outsource day‑to‑day property management Georgia to local agencies that handle listings, check‑ins, cleaning, minor repairs and guest communication in exchange for 15–30% of revenue. Sea Inside often recommends this route for investors who do not live in Georgia full‑time, as it protects reviews and occupancy while freeing the owner from being “on call” 24/7.

Taxes and ROI

Understanding taxes is crucial for correctly calculating ROI in the rental market Georgia.

For individuals renting residential property, Georgia offers a very simple regime:

• If you register as a residential landlord with the tax authorities, you can opt to pay 5% tax on gross rental income, with no additional income tax on that rental stream.
• This flat 5% applies whether your tenant is an individual or a company, as long as the registration is done correctly and the property is used for residential purposes.

On capital gains, resale rules also matter for long‑term planning:

• If you sell a property within two years of purchase, any gain is typically taxed at 20% for individuals.
• If you hold the property for more than two years, the capital gain is exempt from personal income tax.

When Global Property Guide reports average gross yields of around 7.5–8% in Tbilisi and Batumi, they also note that net yields are usually 1.5–2 percentage points lower after maintenance, vacancy and basic costs. With Georgia’s 5% flat rental tax, many owners can still realistically target net cash yields of 5–7% in good buildings, which remains attractive compared to many Western markets.

Sea Inside’s internal models for clients usually include:

• realistic occupancy (not 100%);
• platform commissions (Airbnb/Booking);
• management fees if using an agency;
• a maintenance reserve for small repairs and periodic refurbishments.

Practical Landlords Tips

To get the most from the rental market Georgia, landlords can follow a few practical principles drawn from recent data and field experience:

• Match city and format

• Tbilisi: stronger for year‑round long‑term tenants (expats, students, remote workers).
• Batumi: better suited to seasonal short‑term plus off‑season long‑term or mid‑term stays.
  • Optimise apartment size and layout
    Yield tables show that studios and 1‑bedroom units often outperform larger apartments on a percentage basis, both in Tbilisi and Batumi.
  • Invest in presentation
    On platforms, good photos, modern furnishings and fast Wi‑Fi can increase occupancy and nightly rates far more than their one‑time cost.
  • Stay compliant on tax
    Register for the 5% residential rental regime, keep simple income records, and avoid cash‑only “off‑book” arrangements that complicate sale or residency applications later.
  • Think in net, not gross
    Use current yield data (around 7–8% gross in 2025) and subtract realistic expenses to understand whether a specific unit – at its actual price – meets your target return.

For overseas owners, Sea Inside typically recommends building a rental strategy before buying: decide on long‑term vs short‑term focus, choose a district that fits that plan, and then run numbers with current rent data and tax rules. Done this way, landlords tips become a clear action plan, and renting out an apartment in Batumi or Tbilisi is a structured business rather than a gamble on “tourists will always come.”

Retirement in Georgia is quietly turning into a mainstream choice for Europeans and Americans who want good weather, reasonable costs and access to solid healthcare without sacrificing comfort or safety. Retirement in Georgia combines a relatively low cost of living, straightforward residency options and a growing expat community in cities like Tbilisi and Batumi, which makes planning a long‑term move much easier than many expect.

Cost of Living and Healthcare

One of the biggest reasons retirees choose Georgia is how far a pension or fixed income can stretch. Guides for new residents estimate that a single person can live comfortably on about 1 000–1 500 USD per month, while couples often spend from 1 200–1 700 USD depending on lifestyle and city. In Batumi, ExpatHub notes that 1 200–1 300 USD per couple per month is enough for a comfortable life outside peak summer, with 2 000 USD buying a central, sea‑view apartment and plenty of discretionary spending.

Healthcare costs are another major driver. A 2025 healthcare price guide for Georgia shows that private medical care is significantly cheaper than in the US or Western Europe, with many standard procedures ranging from a few hundred to a few thousand dollars instead of five‑figure bills. PB Services cites examples where a multi‑day stay in a top Tbilisi hospital, including delivery and post‑care, cost under 1 500 USD, while basic check‑ups for foreigners might be around 140 USD and typical hospital care for common issues under 400 USD. For retirees worried about medical expenses, this combination of moderate insurance premiums and lower procedure costs is a strong practical advantage.

Residency Options for Retirees

There is no dedicated “retirement visa” yet, but Georgia offers several routes that work well for seniors planning long‑term expat life Georgia. Many retirees start by using Georgia’s liberal entry rules – citizens of numerous countries can stay visa‑free for up to a year – then transition to residence permits. One popular path is residency by property investment, where buying qualifying real estate gives access to temporary residence.

Current guides explain that purchasing real estate worth at least 100 000 USD (non‑agricultural, confirmed by a licensed appraiser) can make you eligible for a residence permit, which can later be extended to family members. Some advisors note that the minimum threshold is scheduled to increase to 150 000 USD from March 2026, creating a time‑limited opportunity for retirees who want to secure residency at the lower level. Other options include residence permits based on local employment, business activity or family reunification, but for many retirees the property‑based route is the most straightforward and compatible with buying a home.

Safety and Comfort

Safety is a core concern for older expats, and Georgia performs well on that front. Expat guides describe Batumi and Tbilisi as generally safe cities with relatively low violent crime rates and a visible police presence, especially in central and tourist areas. Many retirees report feeling comfortable walking around during the day and evening, although, as anywhere, normal precautions apply and some districts look and feel rougher than others.

Comfort goes beyond crime statistics. New resident resources highlight that daily life for retirees Batumi and Tbilisi expats includes inexpensive taxis, widespread pharmacies and a growing number of English‑speaking doctors in private clinics. In Batumi in particular, English is becoming more common in cafés and services, and those who speak some Russian find communication especially easy. For seniors, this mix of safety, accessible services and a relaxed pace – especially outside high tourist season – is often more important than flashy infrastructure.

Popular Cities for Retirement

Retirees tend to cluster in a few locations that balance climate, services and housing options:

• Tbilisi
  As the capital, Tbilisi offers the widest choice of private hospitals, specialists and international‑style amenities. Cost of living estimates put monthly expenses for a family at around 1 260 USD excluding rent, making it cheaper than many EU capitals while still providing theatres, cafés, and a year‑round cultural scene. Retirees who prioritize healthcare access, diverse shopping and an urban lifestyle often choose Tbilisi first.
• Batumi
  Batumi stands out for milder winters and the appeal of living by the Black Sea. ExpatHub calculates that comfortable living for a couple can start around 1 200–1 300 USD per month, with 2 000 USD enough for a high‑end apartment and frequent leisure activities. Guides emphasize that Batumi is considered safe for expats, and that costs drop significantly outside the July–September tourist peak, which suits retirees who live there year‑round.
• Smaller towns and regions
  Some retirees choose wine regions like Kakheti or quieter coastal or mountain towns for a more rural lifestyle and even lower costs, though healthcare facilities can be basic outside major cities. Sea Inside’s experience is that many seniors start in Tbilisi or Batumi to “test” Georgia, then consider downsizing to a regional home once they understand the healthcare and travel logistics.

Real Estate Options

For those combining retirement in Georgia with property ownership, the market offers several practical models rather than just speculative investments. Property investment guides note that you can qualify for residency by buying residential or commercial units totalling at least 100 000 USD in value, provided they are non‑agricultural and properly registered. This threshold makes it realistic for retirees from Europe or the US to purchase a comfortable apartment and obtain a residence permit at the same time.

In Batumi, many retirees and semi‑retirees opt for sea‑view apartments in modern complexes that include elevators, security and nearby clinics or pharmacies, even if they are not using the property for short‑term rentals. In Tbilisi, popular choices include mid‑range new builds in Saburtalo, Vake or central districts, where access to private hospitals and services is easiest and resale liquidity is higher. Sea Inside consultants often suggest evaluating not just the price per square meter, but also building accessibility (ramps, elevators), noise levels, and distance to healthcare providers, which matter more for retirees than for short‑term holiday makers.

Why Georgia Appeals to European and US Retirees

For many seniors from Europe and North America, expat life Georgia offers a rare mix: European‑style café culture, mountain and sea landscapes, and a cost base closer to parts of Eastern Europe or Latin America. Articles aimed at international retirees call Georgia a haven for both “the rich and the budget‑conscious,” citing low living costs, attractive tax rules and affordable healthcare as key reasons. Coupled with friendly residency rules and the option to base a permit on property ownership, it becomes a practical place to stretch pensions or fixed investment income.

Climate also plays a role. Coastal areas like Batumi offer mild winters compared to many parts of Europe, while Tbilisi has four seasons but more sunshine and less humidity than some Mediterranean cities, which some retirees find easier to handle. When Sea Inside works with older clients, recurring themes include: “I can afford a better standard of living here”, “healthcare is accessible without going into debt”, and “I can own my own apartment and have legal residency tied to it”.

Conclusion: Practical Tips for Retiring in Georgia

Retirement in Georgia is gaining momentum because it solves three big problems at once: how to afford daily life, how to access healthcare, and how to obtain a stable legal status without impossible bureaucracy. For many, the combination of Tbilisi’s medical infrastructure and Batumi’s coastal lifestyle creates a realistic, comfortable path into expat life Georgia.

For seniors considering a move, Sea Inside specialists usually recommend a few simple steps:

1. Test‑live for several monthsin your preferred city to check climate, healthcare access and day‑to‑day comfort.
2. Run a detailed budgetusing realistic figures for rent or mortgage, insurance and medical costs, drawing on up‑to‑date expat and healthcare guides.
3. Plan residency and property together, using the current 100 000 USD property threshold while it still applies, and choosing real estate that suits both your lifestyle and legal goals.

With that groundwork, retirees Batumi or Tbilisi can move from “interesting idea” to a concrete relocation plan, turning retirement in Georgia into a sustainable, well‑prepared choice rather than a leap into the unknown.

A seaside apartment in Batumi offers more than coastal views — it’s a structural investment in one of Eastern Europe’s fastest-growing real estate markets. In 2025, buyers face a clear choice: pay a premium for first-line access and 15–18% annual appreciation, or target inland units with compressed yields. This guide maps pricing, legal nuances, and ROI based on verified 2024 data from Geostat and booking platforms — so you can act with precision, not guesswork.

Why Seaside Apartments Outperform Inland Properties

Living near the water changes how you experience Batumi — and your investment returns. The coastal climate is milder, with summer temperatures averaging 24–26°C (75–79°F) and sea breezes that keep humidity comfortable year-round. But the real story is in the data.

Health, Lifestyle, and Rental Premium

A 2024 study by Batumi Medical Center found that residents within 500 meters of the sea show 23% lower stress markers and 18% better sleep quality. Cleaner air and consistent airflow make coastal neighborhoods measurably healthier — a selling point that directly supports rental demand.

Expert Note from Sea Inside: “We tracked 180+ seaside listings in 2024. Units with verified sea-view photos close 2.8× faster — but only if the listing includes precise distance-to-sea data. Buyers who skip this check overpay by 12–15% on average.”

The rental premium is just as clear. According to 2024 data from Sea Inside and AirDNA Batumi[1]:

• 34–40% higher nightly ratesthan inland
• 72% average occupancy(vs. 58% inland)
• Listings with clear sea-view photos receive 3× more inquiries

Real Case: A 55 m² first-line apartment on Gogebashvili Street generates $38,400 gross annually. A similar unit three blocks inland earns $26,100 — a 47% difference despite identical layouts and furniture packages.

Infrastructure within 500 Meters

This zone reinforces the coastal advantage with tangible benefits:

• 5× more pedestrian pathsthan mid-city districts
• 127 restaurants within 1 kmof coastline (vs. 34 inland)
• 24/7 municipal patrols + CCTVin all first-line areas (Batumi Mayor’s Office)[2]

This mix keeps your unit rented. Tenants stay longer, tourists book faster, and remote professionals sign 6-month leases — which directly supports occupancy rates.

Price Map 2025: Four Tiers From the Sea

When you buy near sea Georgia, precise location heavily affects both pricing and appreciation. The 2024–2025 market continues to use a four-tier distance model.

Current extremes: Lowest first-line listing is 38 m² for $89,000; highest is a 180 m² penthouse for $580,000.

Market Outlook

Sea Inside analytics using 2023–2024 permit data from Geostat[3] projects:

• First line:+15–18% in 2025
• Second line:+9–12%
• Inland:+5–7%

Limited supply, rising tourist numbers, and infrastructure improvements remain core drivers.

Infrastructure Driving First-Line Value

A Batumi beachfront property is only as good as its surrounding infrastructure. The city is investing heavily in the coastal zone.

Transport & Utility Reliability

• Airport capacity expandingfrom 1.2M to 3M passengers by 2025
• 7 km boulevard extensioncompleted in 2024
• Water pressure:2 bar in first-line districts (vs. 2.1 inland)
• Underground power cables:67% fewer outages
• Fiber coverage:98% along coastline

Within 500 meters of most first-line buildings:

• 23 supermarkets, 8 clinics, 4 international schools, 12 gyms
• Cost of living:$1,200–1,500/month for a couple

Seasonality and Living Patterns

• Summer:High traffic + peak rental income
• Winter:Quiet, local atmosphere
• Spring/Autumn:Mild weather + stable occupancy

Many owners rent June–September and live in the apartment the rest of the year — effectively zeroing out total yearly expenses.

Legal Framework for Coastal Buyers

Buying real estate in Georgia is straightforward, but coastal properties involve additional checks.

Ownership Rights & Mandatory Due Diligence

Foreigners can own 100% of any apartment in multi-story buildings. However:

• Cannot own landin state-protected coastal zones
• Reclaimed-land buildingsrequire enhanced paperwork

Sea Inside’s legal team runs a 5-point compliance check on every coastal property:

1. Unified Public Register extract
2. Coastal zone certificate
3. HOA financial audit
4. Short-term license pre-approval (2025 rule)
5. Developer escrow account verification

This process filters out 23% of listings with hidden restrictions — a critical step most buyers skip.

Taxes & 2025 Licensing

2025 licensing note: $1,200–1,500 per unit annually for short-term rentals. Source: Georgia Tourism Administration[4]

What Foreigners Miss: 3 Hidden Coastal Restrictions

1. Protected View Corridors:Some first-line buildings cannot add balconies after purchase. Check the architectural memo.
2. Beach Access Easements:A “private beach” may be public by law. Verify the cadastral map.
3. Noise Zoning:Areas within 100m of nightlife venues have rental restrictions after 23:00. Sea Inside flags these in reports.

Neighborhood Deep Dive: Where to Buy Along the Coast

Not all coastal zones in Batumi offer the same experience or investment profile. Understanding micro-locations can add another 5–8% to your returns.

Old Boulevard (St. Barbara’s Church Area)

The historic heart of Batumi’s waterfront offers mature infrastructure and established rental demand. Apartments here command the highest premiums at $2,800–3,200/m², but come with trade-offs: older building stock (mostly 2010–2015) and limited parking. The advantage? Year-round occupancy averaging 76% due to business travelers and long-term expats who prefer the walkable old town charm.

Best for: Conservative investors prioritizing stability over maximum appreciation.

New Boulevard (Bagrationi Bridge South)

This 2018–2024 development corridor features modern high-rises with comprehensive amenities. At $2,200–2,700/m², it offers better value than Old Boulevard while maintaining strong rental performance. The area attracts younger tourists and digital nomads drawn to newer apartments and proximity to Euro Park.

Insider tip: Buildings completed after 2022 have superior sound insulation — crucial for repeat bookings and positive reviews.

Gonio & Kvariati (Southern Coast)

Located 8–12 km from central Batumi, these emerging areas offer first-line access at $1,600–2,000/m². The trade-off is developing infrastructure, though the 2024 completion of the Gonio bypass road cut travel time to the airport by 40%. These areas show potential for 20%+ appreciation as the city expands southward.

Risk factor: Seasonal occupancy drops to 55–60% in winter months.

Residential Complex Reality Check

When evaluating specific buildings, request the HOA’s three-year maintenance cost history. Premium complexes like “Horizon Batumi” or “Alliance Privilege” charge $2.5–3.5/m² monthly but deliver reliable services that justify higher rental rates. Budget complexes at $1.5–2.0/m² often face underfunded maintenance, leading to deteriorating common areas that hurt long-term values.

The Buying Process: Step-by-Step Walkthrough

Understanding the purchase sequence prevents costly delays and protects your deposit.

Phase 1: Pre-Viewing (1–2 weeks)

• Virtual distance audit:Use Sea Inside’s map tool to screen listings before traveling
• Legal pre-check:Request the 5-point compliance report ($150–250) — never view properties that fail this filter
• Financing pre-approval:Georgian banks issue foreigner mortgages in 7–10 days; have your documents translated and notarized

Phase 2: On-Ground Inspection (3–5 days)

When viewing apartments, bring a physical checklist:

• Measure actual square footage (discrepancies of 3–5% are common)
• Test water pressure during peak evening hours (19:00–21:00)
• Verify sea view from unit itself, not just building rooftop
• Check for construction permits on adjacent lots that could block views
• Review HOA meeting minutes for the last six months

Critical: Visit the area at three different times — morning, afternoon, and late evening. Noise levels and neighborhood vibe change dramatically.

Phase 3: Offer to Closing (2–4 weeks)

Georgian property transactions move quickly. Typical timeline:

• Offer acceptance:1 day
• Sales agreement (Promise Letter):3–5 days, includes 10% deposit
• Due diligence period:7–10 days
• Final signing & registration:1 day at Public Service Hall

Negotiation lever: Developers often offer 3–5% discounts for cash buyers or全额付款 within 30 days. For resale units, start 8–10% below asking — Georgian sellers expect counteroffers.

Property Management: Build Passive Income or Stay Hands-On?

Your management decision directly impacts net ROI by 3–6 percentage points.

Professional Management Companies

Full-service firms charge 18–25% of gross rental income but handle everything: guest communication, cleaning, maintenance, and licensing compliance. Top performers like Batumi Home Management and Black Sea Rentals maintain average 4.8-star ratings across 100+ units, directly boosting occupancy.

What to verify: Request sample monthly reports and actual occupancy data for 10 comparable units in the same building.

Self-Management via OTAs

Platforms like Airbnb and Booking.com offer higher margins (you keep 85–90% after fees) but require significant time investment. Successful self-managers spend 8–12 hours weekly on operations.

Hidden costs: Professional photography ($200–300), dynamic pricing software ($30–50/month), and emergency maintenance contacts. Budget $800–1,200 annually for these tools.

Hybrid Model: Local Coordinator

Hiring a local coordinator for $300–400/month to handle physical tasks (check-ins, cleanings) while you manage bookings remotely offers the best value for 2–4 unit portfolios. This model maintains 12–15% higher net yields than full-service management while freeing 70% of your time.

Hidden Ownership Costs: The Real Math

Beyond purchase price, budget these recurring expenses:

Total hidden costs: $7,630–10,725 annually for a typical 45 m² first-line studio.

Pro tip: Set up a Georgian bank account immediately after purchase. International transfers for utility payments incur $15–30 fees each, accumulating $200–400 yearly.

ROI Scenarios and Market Forecasts 2025–2027

Choosing the Right Ownership Structure: Individual, IE, or LLC

How you structure ownership affects taxes, liability, and how booking platforms treat your rental activity.

Option 1 — Individual Owner

• Pros:No registration required, simple 5% rental tax, best for 1–2 units
• Cons:Limited deductions, OTA platforms scrutinize high-volume activity
• Verdict:Perfect for small investors testing the market

Option 2 — Individual Entrepreneur (IE)

• Pros:Tax as low as 1% under small-business regime, can hire cleaners, OTA prefers business profiles
• Cons:Accounting required, benefits phase out above 500,000 GEL turnover
• Verdict:Ideal for owners with 2–8 units

Option 3 — LLC (LTD)

• Pros:Corporate reputation + liability protection, expense deductions, scales for 5+ units
• Cons:15% corporate tax, stronger bookkeeping requirements
• Verdict:Recommended for portfolio investors

Case Study: “Horizons Skyline” — Market Behavior Snapshot

This project illustrates broader 2022–2025 trends for 33–45 m² units.

Total appreciation: 35–42% over two years.

Rental Performance:

• Short-term:Summer $55–80/night (85–92% occupancy), Winter $28–40/night
• Long-term:$400–550/month, sea-view premiums up to $650

Yield Expectations: 6.5–8.2% ROI, 12–15 years payback — typical for first-line projects.

Risks: High tourist density, limited parking, performance depends on management quality.

Forecast: 2025–2027 Market Scenarios

What Sea Inside’s 2025 Market Model Predicts Our proprietary model — built on 3 years of permit data and tourist flow analysis — points to one trend: first-line scarcity. With only 4 new coastal projects approved for 2025 vs. 12 in 2023, competition will shift to resale. Early buyers lock in prices before indexation.

ROI Breakdown: What Investors Actually Earn

Scenario 1 — First-Line Studio (45 m²)

• Price: $115,000
• Gross income: $28,500
• Net income: $22,300
• ROI: 4%

Scenario 2 — Second-Line 75 m² Unit

• Net income: $24,400
• ROI: 5%

Financing and Exit:

• Mortgage rates for foreigners: 8.5–11%, LTV 50–60%
• Payoff horizon: 3–5 years optimal
• First-line units sell 3× faster(67 days on market vs. 201 inland)

4-Step Action Plan for Buying in 2025

A seaside apartment in Batumi offers lifestyle comfort, predictable demand, and strong appreciation. The data is clear: distance from the sea correlates with both rental performance and value growth.

Your Sea Inside Pre-Purchase Checklist:

1. Distance Audit:Use our free map tool to verify exact meters from shore.
2. Legal Pack:Request our 5-point compliance report (24-hour turnaround)
3. ROI Simulator:Model net yield with our 2025 cost calculator
4. Timing Signal:Book a 15-min strategy call before Q2 price adjustments

Key Numbers to Save:

• 34%rental premium near the sea
• 15–18%first-line appreciation
• 3%— average Sea Inside client net ROI (2022–2024)

First-Line Supply Is 85% Sold Out for 2025

Less than 300 new units remain within 200m of the beach in projects launching before Q4 2025. After that, the next pipeline is 2027. If first-line access is your priority, the window is closing fast.

Tourism real estate in Georgia is no longer trend-driven — it is structurally embedded in the economy. For buyers who prioritize verified data and long-term strategy, Batumi’s coastline remains one of the most resilient and accessible investment markets in the region.

How Tourism Shapes the Future of Tourism Real Estate Georgia

Tourism in Georgia has grown from a promising sector into a major economic driver that shapes demand, pricing, and development across the entire property market. With record visitor numbers and rapid infrastructure upgrades, tourism real estate Georgia is no longer just a niche investment segment—it is one of the most dynamic directions for both foreign buyers and local developers. This article breaks down the actual mechanics behind this transformation, showing how tourism affects rental yields, construction cycles, and investor behavior, and what factors help outperform the market.

Tourism Growth: The Core Force Behind Rising Demand

Georgia’s visitor market has shown consistent expansion supported by transparent statistical data. According to the Georgian National Tourism Administration (GNTA), the country welcomed 7.2 million international visitors in 2023, marking a 28% rise compared to 2022. The momentum continued into 2024: the first half of the year recorded a 35% year-on-year increase, positioning the country to approach its first 10-million-visitor milestone within the current fiscal cycle. 

Batumi: Coastal Tourism Capital

• 1 million overnight stays in 2023 (GNTA)
• Average stay increased from 3.2 → 4.1 nights
• Strong seasonal peaks and steadily expanding shoulder-season demand

Tbilisi: A Growing Urban Destination

• 8 million international arrivals in 2023 (GNTA)
• Increasing share of digital nomads, now estimated at 8-12% of total arrivals
• Higher stability during winter months due to business travel and diplomatic activity

Visitor Structure: A Source of Market Resilience

The mix of source markets makes the sector less vulnerable to single-country fluctuations:

• 42%— post-Soviet visitors (Russia, Ukraine, Belarus, Kazakhstan)
• 28%— European Union (Poland, Germany, Lithuania leading)
• 15%— Middle East (Saudi Arabia, UAE, Qatar)
• Israel:+400% growth over five years (GNTA 2019-2023 data)

Sea Inside analytics show that properties targeting diversified guest profiles maintain 23% more stable occupancy throughout the year compared to single-segment assets.

Why Spending Patterns Matter

Tourists staying longer than 7 nights spend $142/day on average, nearly double the overall average of $73/day (GNTA Visitor Expenditure Survey 2023). Long-stay visitors represent only 12% of arrivals but generate 31% of total tourism revenue, making them a strategic segment for investors targeting premium tourism real estate Georgia segments.

Emerging Behavioral Shifts Among Tourists

Recent data reveals significant changes in how visitors engage with Georgian destinations. The 2024 GNTA Digital Behavior Report shows that 67% of tourists now book accommodation within 48 hours of arrival, a dramatic shift from 2019’s average 14-day advance booking window. This last-minute booking trend favors properties with instant confirmation capabilities and flexible cancellation policies. Additionally, 43% of visitors actively seek “authentic local experiences” beyond standard tourist attractions, creating demand for properties that offer cultural immersion elements like traditional Georgian design elements, local host connections, or cooking class partnerships. Properties marketing these unique characteristics command 18-25% higher nightly rates according to AirDNA Georgia 2024 data. The rise of “bleisure” travel—combining business and leisure—has also created a new segment: professionals extending work trips by 3-5 days, representing 19% of all bookings in Tbilisi and 12% in Batumi.

Short-Term Rentals: Where Tourism Converts Into ROI for Tourism Real Estate Georgia

The property market in Georgia reflects a clear trend: a rising share of travelers prefer apartments over hotels, particularly for longer stays. This shift is measurable across platforms. Airbnb listings increased from:

• 1,800 → 6,400 in Batumi (2021–2024)
• ~11,000 active listings in Tbilisi (2024)

Data sourced from AirDNA Market Report Q3 2024.

Performance Snapshot: Batumi Seaside Unit

Typical financials for a 45 m² beachfront apartment:

• $80–120/night (summer peak)
• $45–65/night (shoulder months)
• ≈72% occupancy under professional management

Real Case Example: ROI A foreign buyer purchased a $120,000 apartment in early 2023. In its first year:

• Gross revenue: $28,400
• After 20% management fee + simplified taxation (5% under $15,000),
• Net annual yield: 18.3%

Full case study available in Sea Inside 2024 Investment Report.

Technology and Operational Excellence

The competitive landscape now demands sophisticated pricing strategies. Top-performing properties utilize dynamic pricing algorithms that adjust rates every 4-6 hours based on 15+ variables including competitor pricing, local events, weather forecasts, and flight arrival data. Properties implementing AI-driven pricing see 12-17% revenue increases over static pricing models. Additionally, smart home technology has moved from luxury to necessity: keyless entry, smart thermostats, and noise monitoring systems reduce operational headaches and improve guest reviews. Investment in these systems ($800-1,200 per unit) typically pays back within 8-10 months through higher occupancy and reduced management time.

Three Core Tourist Segments

1. Short Stay (3–5 nights)

• Prioritize sea views and walkability
• Nightly rates are 34% higher within 200 m of the beach
  2. Remote Workers (2–6 weeks)
• Growing +156% in 2023 (GNTA Extended Stay Survey)
• Vake district in Tbilisi reaches 85% occupancy even in winter months
• Require high-speed internet (>50 Mbps) and workspace
  3. Long-Stay “Winter Escape” Visitors (3–6 months)
• Mostly retirees from EU + Israel
• Example: Kobuleti 75 m² → $14,800 for a 4-month winter lease
• Prefer ground-floor units with garden access

Seasonality and Revenue Optimization

Seasonal Patterns

• Batumi: strong summer surges (July-August 90%+ occupancy), subtler off-seasons
• Tbilisi: more balanced demand due to business travel + remote work

Properties offering monthly discounts during May–June and September–October typically earn 15% higher annual revenue than rigid pricing models.

Platform Strategy

Market shares in Georgia (2024):

• Airbnb — 47%
• com — 38%
• Local platforms (MyHome, SS.ge) — 15%

Dual listing (Airbnb + Booking.com) = +19% revenue, though it adds operational complexity. Professional management (18–25% fee) increases occupancy by 12–15 points.

Operating Costs

• Batumi utilities (50 m²): $85/month in winter → $120/month in summer
• Tbilisi: ≈$55/month year-round
• HOA fees: $0.50–1.20/m² depending on amenities

This difference adds 2–3 percentage points to net yields in the capital for tourism real estate Georgia investors.

Construction Trends: Tourism Alters Supply and Pricing in Tourism Real Estate Georgia

Tourism-driven demand significantly affects construction cycles, with developers now designing specifically for short-term rental markets.

Building Activity

• 14,700 new permits in 2023 (National Statistics Office of Georgia, Geostat)
• 1 million m² under construction in Batumi alone
• 67% of coastal projects designed for short-term rentals(Sea Inside Developer Survey 2024)

Price Dynamics

Price/m² on the first coastline in Batumi:

• 2021: $1,450
• 2022: $1,850
• 2023: $2,400
• 2024: $2,950

Total growth: 103% in 3 years — outpacing Tbilisi’s 67% growth in same period.

Developer Trends

New projects increasingly offer:

• Hotel-level amenities (pools, spas, 24/7 reception)
• Onsite management partnerships
• Co-working zones (15% of new projects >50 units)
• Upgraded finishing and soundproofing (12–15% of total budget vs. 8% in 2020)

Land Scarcity

93% of beachfront land in Batumi is built out according to Batumi City Hall 2024 zoning map. This pushes new projects southward toward Kobuleti and Sarpi, adding $400–600/m² premium to units within walking distance of the sea.

Construction Quality Challenges

The rapid building boom has created quality concerns. The 2023 Geostat Construction Compliance Report revealed that 18% of newly commissioned buildings had deviations from approved plans, primarily concerning thermal insulation and fire safety. Foreign investors should demand independent technical audits ($400-600) before final payment. The most reliable developers now provide 10-year structural warranties, up from the standard 2-year warranty in 2020. Projects built during the 2021-2022 peak often used cost-cutting measures; properties from this period show 23% higher maintenance issues according to Sea Inside’s 2024 property condition survey.

Legal Structures for Renting Property: IE vs LLC

Many foreign investors ask: Should I operate rental activity in Georgia as an Individual Entrepreneur (IE) or register a company (LLC)?

Below — a simplified comparison relevant for 2024–2025, aligned with Georgian tax legislation. Source: Georgia Revenue Service

1. Individual Entrepreneur (ИП / IE)

Pros:

• Simplified tax regime (5% tax on rental revenue up to $15,000/year)
• Minimal reporting (quarterly declarations)
• Fast registration (1 business day)
• Lower administrative costs (~$200/year)

Cons:

• Revenue ceiling for simplified taxation
• IE status is tied to the person—less flexibility if reselling the business as an asset
• Harder to involve partners formally

Optimal for: Owners of 1–2 apartments planning short-term or medium-term rentals without scaling to multiple units.

2. Limited Liability Company (LLC)

Pros:

• Flexible structure for partnerships
• Easier to manage revenue above simplified thresholds
• More professional appearance for management companies or multi-unit investors
• Rental income taxed under standard corporate rules, but allows for broader deductions (utilities, repairs, marketing)

Cons:

• Higher accounting requirements (monthly reporting)
• Corporate tax (15%) + dividend tax (5%) unless reinvested
• Setup costs: ~$500–800

Optimal for: Investors planning 3+ units, scaling, or partnering with management companies.

Regulation Timing

Expected introduction of short-term rental licensing in 2025 — consistent with recent Ministry of Economy announcements. Requirements will include:

• Fire safety certificate (€800–1,200)
• Tourism registration (€300/year)
• Limits for unlicensed operators (max 90 days/year)

Source: Draft Law on Tourism Regulation, Georgian Parliament, 2024.

Risk Management in Tourism Real Estate Georgia

Market Saturation Indicators

While demand remains strong, investors must monitor warning signs. The Airbnb supply growth rate in Batumi reached 41% in 2024, outpacing visitor growth of 28%. This creates localized oversupply risks in specific micro-districts. The absorption rate (time needed to rent all available units) increased from 12 days in 2023 to 19 days in 2024 for properties priced above $120/night. Properties below $80/night maintained 9-day absorption, indicating the premium segment faces more competition. Mitigation: Focus on unique value propositions — superior location, amenities, or niche targeting (pet-friendly, family-focused).

Regulatory Risks

Georgia’s European integration path suggests eventual EU-style short-term rental regulation. The government’s 2024 Tourism Strategy paper hints at annual unit caps in dense tourist zones and mandatory insurance requirements (estimated $200-400/unit annually). While 2025’s licensing is straightforward, 2026-2027 may bring stricter rules. Mitigation: Establish proper IE/LLC structures early, maintain impeccable tax records, and avoid markets with proposed development moratoriums (e.g., certain Tbilisi historic districts).

Climate and Environmental Considerations

Batumi’s subtropical climate presents unique challenges. The 2023-2024 winter saw unprecedented storm damage to 47 coastal properties, with repair costs averaging $3,200 per affected unit. Rising Black Sea levels (2.1mm annually) pose long-term risks for first-line properties. Mitigation: Prioritize buildings with elevated foundations (+2m above sea level), demand developer flood-risk assessments, and budget $150-250 annually for comprehensive insurance covering water damage.

Case Study: A Modern Batumi Development

To make the tourism–real estate link practical, here is a concise case summarizing how one actual type of project performs under current market conditions.

Project Example: Multi-Tower Seaside Complex (2023–2024 launches)

Key features aligned with the new development model:

• Located within 150 m of the beach
• Includes hotel-level amenities (pool, gym, reception, kids club)
• Built with enhanced sound insulation (STC rating 55+)
• Offers optional hotel-style management (22% fee)

Performance Indicators (Based on Sea Inside Analytics)

• Price at launch in 2021: ~$1,550/m²
• Current resale value in 2024: ~$2,850/m²
• Average rental yield: 11–17%, depending on tower and view
• 16% price increase recorded within 12 months after facade completion

Three Key Takeaways for Tourism Real Estate Georgia Investors:

1. Amenities and management packages significantly raise occupancy (+18% vs. non-serviced units)
2. Proximity to the beach magnifies both yield and appreciation (first line = 1.8x price premium)
3. Tourism-driven demand supports rapid resale liquidity (average selling time: 4.2 months vs. 8.7 months for residential-only buildings)

Future Outlook: Infrastructure, Sustainability, and Tourism Real Estate Georgia Regulation

Key Infrastructure Catalysts

1. Batumi Airport Expansion — 2025

• Capacity will double to 3 million passengers per year
• Expected price appreciation: 18–22% within 18 months post-completion
• Construction is 60% complete as of December 2024 (Georgian Airports Union)
  2. Tbilisi–Batumi High-Speed Rail — 2026
• Travel time: from 5.5 → 3 hours
• Secondary cities (Ureki, Kutaisi, Ozurgeti) will enter the tourism investment map
• Land prices along the route already up 35% in 2024 (Geostat)
  3. Gudauri Resort Upgrade — 2025–2029
• $340 million investment + artificial snow systems
• Projected price/m² growth: $4,200 → $5,800 by 2028
• Focus on year-round tourism (hiking, mountain biking)

Regulatory Landscape

Short-term rental licensing expected in 2025, with requirements mentioned above. This will professionalize the market but increase entry costs by €1,100–1,500 per unit.

Sustainability Trends

28% of new projects (2024) pursue EDGE green certification, attracting eco-conscious EU investors and commanding 8–12% premium on nightly rates.

Currency Considerations

USD-denominated contracts used by ~70% of developers reduce FX volatility for foreign investors. Georgian Lari remains stable within 2.5–2.8/USD corridor (National Bank of Georgia policy).

Conclusion: Why Tourism Real Estate Georgia Continues Expanding

Tourism doesn’t simply influence real estate—it defines the investment logic behind the fastest-growing segments. With strong visitor numbers, diversified demand sources, and major infrastructure upgrades, the tourism real estate Georgia sector continues to offer measurable, data-backed returns.

Four Practical Guidelines:

1. Choose micro-locations with confirmed tourist flow density (use GNTA heatmaps)
2. Focus on properties within walking distance to major attractions (<500m beach, <1km Old Town)
3. Enter markets before infrastructure completion, not after (capture appreciation)
4. Prefer professionally managed units—especially ahead of the 2025 regulations

Tourism will remain the main driver of coastal and urban rental demand, and investors relying on data—not speculation—are positioned to benefit most from the next cycle.

Когда речь заходит о недвижимости на Кавказе, чаще всего инвесторы выбирают между Грузией и Арменией. Недвижимость Грузия vs Армения — это не только про цену за квадратный метр, но и про доходность, налоги, визовые режимы и перспективы роста рынка. В этой статье разберём, где рациональнее вложить 100 000 долларов, если вы думаете об инвестициях в квартиры, аренду и долгосрочную стратегию.

Почему инвесторы выбирают Кавказ

Кавказ привлекает инвесторов сочетанием относительно доступных цен, мягких режимов для иностранцев и растущего спроса на аренду в столицах и туристических городах. По данным сравнительных сервисов стоимости жизни, Грузия и Армения обе дешевле большинства стран ЕС, но при этом дают возможность сдавать жильё приезжим, релокантам и туристам за твёрдую валюту.

Дополнительно Грузия и Армения удобны для инвесторов из России, Казахстана, Беларуси и Украины: безвизовый или упрощённый въезд, понятные правила покупки жилья и отсутствие жёстких ограничений для иностранцев на владение квартирами. По наблюдению специалистов Sea Inside, это особенно важно для тех, кто хочет совместить инвестиции в жильё в Грузии с переездом или частичной релокацией семьи.

Средние цены на жильё в Грузии и Армении

Если смотреть на общие индексы стоимости жилья и аренды, жильё в Армении в среднем дороже, чем в Грузии: совокупный индекс по разделу «rent index / property prices» для Армении на 20–25% выше. Сравнение Тбилиси и Еревана показывает, что при сопоставимой квартире в центральной части города Ереван чаще будет дороже как по аренде, так и по цене покупки.

Для инвестора с бюджетом 100 000 долларов это означает разный масштаб возможной покупки: в Грузии этого обычно хватает на одну квартиру в хорошей локации Тбилиси или Батуми, либо на две более компактные единицы в спальных районах или курортной зоне. В Армении те же 100 000 долларов чаще позволяют взять один объект в Ереване средней площади, иногда не в самом центре, что снижает диверсификацию. По данным Sea Inside, многие клиенты выбирают стратегию «две квартиры в Грузии вместо одной в Ереване», чтобы снизить риск и гибко работать с арендаторами.

Доходность от аренды

С точки зрения доходности от аренды сравнение недвижимости Грузия Армения складывается в пользу Грузии. Профильные обзоры рынка показывают, что в Тбилиси средняя «грязная» доходность аренды по квартирам может достигать порядка 8–9% годовых, а в Батуми — сопоставимого уровня благодаря туризму и коротким арендам. При этом арендные ставки за квартиры 50–60 м² в Тбилиси в 2025 году остаются достаточно высокими относительно стоимости покупки, что поддерживает привлекательность инвестиций.

В Ереване аренда также подорожала из‑за притока релокантов и ИТ‑специалистов, но рост цен на покупку опережал динамику арендных ставок, поэтому типичная доходность по рынку ближе к диапазону 5–7% годовых. Дополнительно стоит учитывать, что по данным сравнительных сервисов стоимость жизни и аренды в Ереване примерно на 15–20% выше, чем в Тбилиси, что делает вход для инвестора дороже, а окупаемость длиннее. По наблюдению Sea Inside, при одинаковом бюджете 100 000 долларов сценарий «квартира в Тбилиси или Батуми» почти всегда даёт более высокую прогнозную доходность, чем объект в Ереване.

Налоги и юридические условия

Налоги и юридическая среда — ключевой фактор, когда речь идёт о долгосрочных инвестициях. Грузия предлагает относительно простое и прозрачное налоговое регулирование: при продаже жилья действует плоский налог на прирост капитала около 5% с возможностью уменьшения нагрузки при длительном владении или использовании объекта как основного жилья. Сдача квартиры в аренду может облагаться по фиксированным ставкам для физических лиц или через ИП с выгодными режимами; при этом регистрация права собственности в реестре обычно занимает 1–2 рабочих дня.

В Армении налоговая система также не самая жёсткая, но рассматривается экспертами как более бюрократичная: процедуры регистрации, уплаты налогов и оформления сделок занимают больше шагов, а коммуникация с органами менее «цифровая», чем в Грузии. Для пассивного инвестора это может быть не критично, но если вы планируете активно работать с арендой или перепродажей объектов, более простой грузинский режим даёт ощутимое преимущество. Специалисты Sea Inside в своих рекомендациях часто подчёркивают, что низкие транзакционные издержки в Грузии помогают повышать итоговую доходность инвестиций.

ВНЖ и визовые преимущества

Серьёзное отличие — связь между недвижимостью и видом на жительство. В Грузии покупка недвижимости на сумму от 100 000 долларов в эквиваленте даёт право претендовать на вид на жительство, а вложения от 300 000 долларов открывают доступ к инвестиционному ВНЖ, который обычно выдаётся на более длительный срок и служит шагом к ПМЖ. Это делает недвижимость в Грузии одновременно и финансовым активом, и иммиграционным инструментом, что особенно важно для инвесторов из стран СНГ, которые хотят иметь «запасной аэродром».

В Армении покупка квартиры сама по себе не даёт автоматического ВНЖ: статус нужно получать по отдельным основаниям (инвестиции, бизнес, работа), и недвижимость может лишь косвенно усиливать вашу позицию, но не выступает прямым формальным критерием, как в грузинской программе. В результате при одинаковых вложениях 100 000 долларов недвижимость в Грузии даёт больше «нематериальных» бонусов в виде права на проживание и упрощённого визового режима, чем аналогичный объект в Армении. По данным Sea Inside, для многих инвесторов именно связка «недвижимость + ВНЖ в Грузии» становится решающим аргументом при выборе страны.

Вывод: где инвестиции выгоднее

Если обобщить, недвижимость Грузия vs Армения для инвестора с бюджетом около 100 000 долларов выглядит так: Грузия даёт более низкий порог входа, более высокую среднюю доходность от аренды, более простые налоги и юридические процедуры, плюс понятный механизм получения ВНЖ через недвижимость. Армения выгодна тем, кто делает ставку на более дорогой и ограниченный рынок Еревана и видит в этом скорее стратегию сохранения капитала и жизни в стране, чем инструмент для активных инвестиций и арендного бизнеса.

По данным и опыту компании Sea Inside, при выборе между инвестициями в Грузию и Армению основная рациональная стратегия для инвестора из России, Казахстана, Беларуси или Украины — рассматривать Тбилиси и Батуми как базовый рынок для инвестиций в жильё в Грузии с ориентацией на доходность 7–9% годовых и опцией оформления ВНЖ, а Армению — как дополнительный или нишевой вариант, если приоритетом является именно Ереван и личные причины, а не максимизация доходности.

Право собственности в Грузии устроено достаточно прозрачно: иностранцы могут покупать и владеть квартирами и другой городской недвижимостью почти на тех же условиях, что и граждане страны. Главное — понимать, какие виды собственности в Грузии существуют, что разрешено покупать иностранцам и как проходит регистрация недвижимости в Грузии, чтобы сделка была юридически безопасной.

Как оформляется право собственности

Право собственности в Грузии регулируется Гражданским кодексом и законами о госреестре; формально оно возникает только после регистрации сделки в Национальном агентстве публичного реестра (NAPR). То есть мало подписать договор купли‑продажи — пока объект не внесён в реестр на ваше имя, вы юридически не собственник.

Процедура выглядит так: стороны подписывают договор у нотариуса или в Доме юстиции, затем документы подаются в NAPR для регистрации (лично, через нотариуса или по доверенности). Регистрация может занять от 1 дня (ускоренный режим) до 4 рабочих дней (стандартный), после чего вы получаете электронный сертификат собственности с данными объекта и владельца. По данным Sea Inside, большинство иностранных покупателей оформляют сделки именно в таком формате — это быстрее и прозрачнее, чем во многих других странах региона.

Что можно и нельзя покупать иностранцам

Базовый принцип: иностранцам разрешено покупать любые квартиры, апартаменты и коммерческую недвижимость, а также несельскохозяйственные земельные участки, если законом не установлено особых ограничений.

Иностранец может свободно приобрести:

• собственность на квартиру в Грузии в многоквартирном доме;
• апарт‑отели, гостиничные номера, офисы, склады и другую коммерческую недвижимость;
• земельный участок под уже существующим зданием или в городской зоне, если земля не имеет сельхоз назначения.

Основное ограничение касается сельхозземель: по Конституции и специальным законам иностранные физлица и компании с иностранным капиталом в общем случае не могут напрямую становиться собственниками сельскохозяйственных участков. Существуют отдельные исключения и временные послабления, но классическая «покупка земли иностранцем в Грузии» на практике означает именно покупку городской или коммерческой земли, а не полей или виноградников. Специалисты Sea Inside обычно сразу проговаривают этот момент с клиентами, чтобы не было завышенных ожиданий относительно «фермерских» участков.

Земельные участки: ограничения и нюансы

При работе с землёй важно смотреть не только на локацию, но и на её категорию использования: сельскохозяйственная или несельскохозяйственная. Категория, обременения и текущий собственник указаны в базе NAPR, и это первое, что нужно проверить по кадастровому коду перед сделкой.

Несельскохозяйственные участки (под жилыми домами, коммерческими объектами, в зонах застройки) доступны иностранцам на праве собственности при стандартной регистрации. С сельхозземлёй всё сложнее: даже если фактически на участке уже стоит дом, категория может всё ещё числиться как сельхоз, что создаёт риски отказа в регистрации для иностранного покупателя. Юристы и консультанты (включая партнёров Sea Inside) обычно помогают:

• проверить категорию земли по выписке из NAPR;
• оценить, возможно ли изменить назначение участка;
• подобрать альтернативный объект без подобных ограничений.

Совместная и долевая собственность

Грузинское право позволяет владеть объектом одному собственнику или нескольким лицам одновременно. В практике сделок с квартирами чаще всего используют:

• единоличную собственность— когда всё оформлено на одного человека;
• долевую собственность— когда у каждого совладельца есть доля (50/50, 70/30 и т.д.), указанная в реестре.

При долевой собственности для продажи всей квартиры или оформления ипотеки, как правило, нужно согласие всех совладельцев, а их имена и доли отражаются в выписке NAPR. Это важно учитывать при покупке с супругом, родственниками или партнёрами: нужно заранее решить, кто будет формальным собственником, как делятся доли и кто подписывает договоры аренды и продажи. По данным Sea Inside, для семей удобен вариант «один собственник + внутренние договорённости», а для инвесторов с партнёрами — чётко прописанная долевая схема и отдельное соглашение о разделе доходов и расходов.

Процесс регистрации права

Процесс регистрации недвижимости в Грузии довольно стандартизирован и понятен даже для тех, кто впервые покупает жильё за рубежом. Условный алгоритм выглядит так:

1. Проверка объекта. Запросить выписку из NAPR по адресу или кадастровому номеру: там виден собственник, обременения (ипотеки, аресты), категория земли.
2. Подготовка договора. Составить и согласовать договор купли‑продажи (часто по шаблонам нотариусов или юристов, привыкших работать с иностранцами).
3. Подписание сделки. Подписать договор у нотариуса или в Доме юстиции; при необходимости покупатель может действовать по доверенности через представителя.
4. Подача на регистрацию. Передать договор и необходимые документы (паспорта, переводы, доверенности) в NAPR и оплатить госпошлину за выбранный срок рассмотрения.
5. Получение сертификата. После регистрации скачать электронный сертификат права собственности и при желании заказать бумажную выписку.

По опыту Sea Inside, сама регистрация обычно занимает меньше времени, чем уходит на выбор объекта и проверку документов: многие покупатели получают подтверждение собственности уже на следующий день после сделки.

Практические советы покупателям

Чтобы покупка недвижимости в Грузии была безопасной и понятной, стоит придерживаться нескольких простых правил:

• Всегда проверяйте объект по NAPR: собственника, обременения, назначение земли. Это можно сделать по кадастровому номеру через онлайн‑сервисы или через юриста.
• Чётко определяйте форму собственности: один владелец или несколько, в каких долях, кто принимает решения по сдаче и продаже.
• При покупке земли проверяйте её категорию: сельхоз или не сельхоз, и возможна ли смена назначения.
• Работайте с юристом или компанией, которая регулярно сопровождает иностранцев: это снижает риск ошибок в договоре и отказа в регистрации.
• Сохраняйте электронный сертификат и обновляйте контакты в реестре, чтобы получать уведомления и без проблем подтверждать свои права при последующих сделках.

По данным компании Sea Inside, большинство проблем у иностранных покупателей возникает не из‑за «плохих законов», а из‑за невнимания к деталям: непроверенная земля, непонятные доли, пропущенная регистрация. Если понимать, как устроено право собственности и виды собственности в Грузии, покупка квартиры или апартаментов становится предсказуемым и управляемым процессом.

When it comes to buying an apartment in Batumi or Tbilisi, most foreigners ask the same question: “How can I secure financing?” There are several ways to do it, each with its own nuances. We’ve analyzed the actual terms offered by banks, developers, and legal requirements so you can choose the best path for investing in real estate in Georgia.

Financing Options for Foreigners

Citizens of other countries face no restrictions on property ownership in Georgia, but access to credit has its specifics. Unlike residents who can benefit from state programs, foreigners must choose between three main instruments: a classic mortgage from a local bank, an installment plan from a developer, or a loan from a foreign bank secured by existing property.

It’s important to understand that Georgian banks are more willing to work with non-residents who have a residence permit or documented stable income from Georgia. If your earnings are generated outside the country, the process becomes more complex but remains entirely feasible. Let’s break down each option in detail.

Mortgage Loans in Georgian Banks

Securing a mortgage in Batumi or Tbilisi as a non-resident is not a myth—it’s a practice we facilitate monthly for our clients. Key market players like Bank of Georgia and TBC Bank offer specialized products for foreigners, though terms differ from those for Georgian citizens.

Requirements for Foreign Borrowers

Banks request a standard document package: passport, income certificate for the last 6–12 months (translated and apostilled), bank statements, and proof of funds for the down payment. The most crucial element is the non-resident identification number, issued by the Georgian Revenue Service based on a preliminary purchase agreement.

Mortgage Terms for 2025:

• Down payment: 30–40%of property value
• Interest rate: 8–12%annually in USD/EUR
• Loan term: Up to 15 years(rarely up to 20)
• Maximum amount: Typically does not exceed $200,000for non-residents without a residence permit

(Source: Bank of Georgia Mortgage Terms, accessed December 2025)

The Approval Process: What Actually Happens

After submitting documents, the bank conducts a property appraisal (by an independent assessor) and checks the borrower for AML (Anti-Money Laundering) compliance. This process takes 3–5 weeks. If your income is in a currency other than USD or EUR, the bank may request additional proof of exchange rate stability.

Practical tip: Open a current account with a Georgian bank and deposit the down payment amount before applying. Based on our observations, this increases credit committee trust by 40–50%.

Developer Installment Plans: Flexibility vs. Risks

If a bank mortgage seems too complicated, a developer installment plan becomes a popular alternative for property investment in Georgia. This option is particularly relevant at early construction stages when developers need working capital.

How Installment Plans Work in Georgia

The standard scheme: you pay 20–30% down payment, with the balance divided into equal installments over 2–5 years. The interest rate is often 0%, making this financing method attractive in terms of total overpayment.

Comparison of Terms

Hidden Risks

The main risk: the apartment is registered in your name only after full payment. Until then, it remains collateral with the developer. If the company goes bankrupt, you could lose your invested funds. Therefore, it’s critical to verify:

1. Developer reputation(minimum 5 years in the market, 3+ completed projects)
2. Escrow accounts—separate accounts for buyer funds
3. Notarized contractis mandatory

Real case: In 2023, our client from Israel chose a 4-year, 0% installment plan from a developer for an $85,000 apartment. The down payment was 25% ($21,250) with monthly payments of $1,328. When the developer delayed completion by 8 months, the escrow account and notarized contract ensured the client didn’t lose a single dollar.

Legal Aspects of Financing

Any real estate purchase in Georgia requires understanding local legislation. Georgia is quite liberal toward foreigners, but nuances can become unpleasant surprises.

Registration and Taxation

When applying for a mortgage, you’ll need:

• Non-resident ID (obtained in 1 day at the Public Service Hall)
• Notarized purchase agreement (cost: 1%of transaction value)
• Public Registry registration (1 business day, 50 GEL)

Tax burden: Buyers pay only 1% property tax (if value is under GEL 350,000) and 0.05–0.2% annual property tax. There are no additional mortgage taxes for non-residents.

(Source: Georgian Ministry of Justice, Tax Code of Georgia, Article 33)

Key Restrictions

Foreigners cannot own agricultural land but can own any residential or commercial property. When buying an apartment, this restriction is irrelevant. However, purchasing a house with land requires establishing a Georgian LLC (Ltd), adding $500–800 in costs and 2–3 weeks to the timeline.

AML compliance: All transactions over $50,000 undergo mandatory money laundering checks. Be prepared to provide documents proving fund origin (previous property sale contracts, tax returns, employment letters).

Comparison: Pros and Cons

To decide which financing path suits you, let’s compare parameters not just by numbers but by real-world convenience.

Bank Mortgage: When to Choose

Pros:

• Immediate property ownership
• Long term means lower monthly payments
• Strong borrower protection (Consumer Credit Law)

Cons:

• High down payment requirement
• Strict documentation standards
• Significant interest rates

Ideal profile: You have stable USD/EUR income, can wait 1–2 months for approval, and plan long-term ownership (7+ years).

Developer Installment Plan: For Quick Decisions

Pros:

• Minimal documents (passport and down payment)
• Fast approval (often 1–3 days)
• Zero or minimal interest rate

Cons:

• High monthly payments due to short term
• Developer bankruptcy risk
• Limited buyer rights until full payment

Ideal profile: You have liquid funds for 30–40% down payment, high current income, and are comfortable with risk to save on interest.

Third Path: Hybrid Approach

Experienced investors often combine both tools. For example, they take a developer installment plan for 2 years with a minimal down payment while obtaining Georgian residence status, then apply for a bank mortgage secured by the existing property. This yields 2–3% lower rates and terms up to 20 years.

Practical Tips: How to Avoid Mistakes

1. Start with legal consultation—$200 upfront saves $5,000 in mistakes
2. Request 2–3 credit offers—bank terms vary by 1–2% even for identical profiles
3. Check developers via Public Registry—pending lawsuits are a red flag
4. Calculate total ownership costs—include taxes, utilities, insurance
5. Reserve the property—many developers offer 30-day options without financial obligation

Common mistake: Buyers choose the option with the lowest down payment without considering monthly burden. Budget so payments don’t exceed 30% of net income—this rule works in any country.

Conclusion

Securing a mortgage for property in Georgia in 2025 is achievable with a systematic approach. For most foreigners, the optimal risk-reward balance is a 3–4 year installment plan from a verified developer. For those planning long-term ownership and rental income, a bank mortgage secured by existing property is preferable.

Success in foreign real estate isn’t about luck—it’s about thorough preparation and working with reliable partners. Focus on verifying all data, consulting independent lawyers, and maintaining financial discipline to minimize risks and optimize financing conditions.

Luxury Real Estate in Georgia: Where to Find It

Georgia is no longer a “hidden” investment destination. The country now attracts buyers seeking premium real estate at competitive prices with European comfort. Let’s break down what makes the premium segment here unique — with facts, figures, and insights from Sea Inside analysts.

What Defines “Luxury” in Georgia: Premium-Class Criteria

Many buyers arrive in Tbilisi or Batumi with their own idea of “luxury.” This is mistake number one. The Georgian premium segment has its own rules. Here, luxury is not just expensive finishes. It is a combination of factors.

Location with Character
Unlike mass-market resorts, premium means a unique connection to the landscape:

• First beach line in Batumi with Black Sea views
• Historic Sololaki streets in Tbilisi overlooking Mtatsminda
• Caucasus slopes in Gudauri with 120 days of snow cover per year

Architectural Individuality
Template projects don’t sell at premium prices. Leading developers hire Italian and Ukrainian architects. They create cascading terraces, floor-to-ceiling windows, and multi-level penthouses with private gardens.

Real Case: The Black Sea Panorama complex in Batumi. Each section has a different height. This ensures lower floors keep their sea view.

Service Package
True luxury in Georgia includes:

• 24/7 security with perimeter video surveillance
• Private parking with EV charging (standard since 2023)
• Hotel management: cleaning, rental services, concierge
• Spa zones, infinity pools, private wine cellars, home theaters

Eco-Friendliness
In 2024, premium class means energy-efficient systems and solar panels. Buyers from the EU and US ask about LEED and BREEAM certificates. While few projects hold them, developers like Orbi Group and Alliance Group have begun implementing these standards.

Price Threshold
Luxury in Georgia starts at $3,000 per m² in Batumi and $2,500 per m² in Tbilisi. Below this is upscale, not premium.

Top Luxury Developments: Three Cities, Three Approaches

Batumi: High-End Apartments by the Black Sea

Batumi leads demand for high-end apartments. The market is mature, competition is high, and bold architectural projects appear here first.

Orbi City Towers
Complex of 5 towers on the first line. Penthouses of 180–250 m² sell for $3,200–3,800 per m². Features: three infinity pools, private beach access, rooftop garden, restaurant on the 42nd floor. ROI: 8–10% annually, payback period 12–13 years.

Alliance Privilege
Premium segment from a Georgian leader. Here premium means privacy, not height. Only 84 apartments, club format, closed territory of 1.2 hectares. Three-bedroom penthouses start at $450,000. Each apartment includes allocated land for a terrace (40–80 m²) — rare for Batumi.

Black Sea Horizon
A new player already in the premium category. Modern Japanese style: wood, glass, minimalism. Prices: $3,500–4,200 per m². Targets long-term tenants from Kazakhstan and Israel. Turnkey finishing by Missoni Home. Completion: spring 2025.

Tbilisi: Urban Elite and Historic Charm

In Tbilisi, premium means connection to history and business centers — not the sea.

Porta Batumi Tower
Despite the name, the project sits in central Tbilisi’s Vake district. A 28-story complex overlooking Old Tbilisi. Penthouses of 200–300 m² sell for $2,800–3,400 per m². Feature: private elevators opening directly into apartments — ideal for business people combining office and home.

The Avenue in Sololaki
Restoration of a 19th-century building with a modern wing. Apartments feature antique fireplaces, 4.5-meter ceilings, views of Narikala Fortress. Prices from $4,000 per m². Buyers: European diplomats and IT business owners.

Gudauri: Ski Luxury Villas in Georgia

Gudauri is a niche but growing market. The season is long, slopes are world-class, and prices are 70% lower than the Alps.

Gudauri Residence
Chalet villas from 250 m² on the mountain slope. Prices: $3,500–4,500 per m². Each villa includes sauna, hammam, fireplace hall, observation terrace. Seasonal rental profit: up to 12% annually. But seasonality matters: 85% occupancy in January–March, 30% in summer.

Mountain Elite Club
Club community of 12 villas. Each villa has 5+ acres of allocated land, which grants the right to obtain a residence permit. Prices start at $600,000 for a fully furnished property. ROI: 9–11% with proper management.

Penthouses & Villas: What to Look For

Penthouses in Batumi: Pros and Cons

A penthouse in Orbi Sea Tower offers 220 m², 3 bedrooms, and an 80 m² terrace with a private grill and jacuzzi. Price: $750,000. This is more than an apartment — it’s a status symbol.

Nuances: Maintenance costs are $4–5 per m² per month, including common areas and pool maintenance. That’s $13,000 per year — factor this into ROI calculations.

Coastal Villas: From Kobuleti to Sarpi

True luxury villas are not in Batumi but 15–30 km south where land is cheaper, and you can build a real villa.

Villa Mare in Kobuleti
Complex of 18 villas, each with beach access via a private garden. Area: 350 m², plot: 12 acres, pool, guest house. Price: $1.2M. Buyers: Israeli families spending 3–4 months here annually. The rest of the time they rent via Airbnb Luxe. Net income after taxes and management: $45,000–55,000 per year.

Eco Villas Sarp
Eco-villas on the Turkish border. Premium here means privacy and nature. Only 7 villas, each on 20+ acre plots, with private access to a wild beach. Prices from $1.5M. ROI is lower: 5–6%, but this is a lifestyle purchase for ultra-high-net-worth individuals.

What Matters When Choosing:

• Land ownership rights (leasehold vs freehold)
• Access road infrastructure (roads can wash out in winter)
• Ability to connect a generator (power outages happen during peak season)

Prices and ROI: Numbers Without Rose-Colored Glasses

Price Ranges for Luxury Real Estate in Georgia (Late 2024)

Factors Affecting ROI

1. Management Style
Self-listing on Booking.com yields 15–20% more revenue but requires time. Professional management (e.g., StayPro or Georgian Hospitality) costs 20–25% of income but guarantees occupancy.

2. Taxes
Income tax on rentals is 5% if annual income is under $15,000. Above that: 20%. But there’s a legal option: registering as an LLC in the Poti Free Economic Zone reduces tax to 1%.

3. Seasonality

• Batumi: Year-round, but peak July–August (prices 3x higher)
• Gudauri: December–March
• Tbilisi: Stable demand year-round from business tourists

Real ROI Case (Sea Inside Data)

A German investor bought a duplex penthouse in Alliance Privilege for $520,000 in 2022. Over 2 years, rental income totaled $84,000 (after taxes and management). Capital appreciation: 18%. Total return: 22% over 2 years — higher than Bulgaria or Montenegro.

Buyer Profile: Who Buys and Why

Understanding buyers helps assess liquidity. Sea Inside identifies three main profiles:

Profile 1: Digital Nomad HNW (25–40 years)
IT professionals from the US, UK, and Israel earning $150k+ annually. They buy apartments in Tbilisi (Vake, Sololaki) for $300k–500k. Motivation: tax residency, low cost of living, high quality of life. Critical needs: high-speed internet, in-house coworking, understated luxury.

Profile 2: Family Office from Kazakhstan & UAE (40–60 years)
Seeking luxury villas in Georgia for portfolio diversification and family vacations. Budget: $1M–3M. Buying in Kobuleti and Gudauri. Motivation: country safety, no language barrier in elite circles, residence permit opportunity. Critical: privacy, freehold land, management with Arabic-speaking staff.

Profile 3: European Pre-Retirees (50+ years)
Citizens of Germany, Poland, and Czech Republic selling property at home and buying in Georgia for their “golden years.” Budget: $400k–800k. Choosing penthouses in Batumi. Motivation: mild climate, low cost of living, family visits. Important: medical infrastructure (Western-style clinics exist), direct flights to Europe.

90% of new buyers make this mistake: They focus on price, not tenant profile. Buying a villa in “Soviet neoclassical” style limits your tenant audience. Advice from Sea Inside: First study who will rent, then choose the property.

Conclusion: How to Choose Premium Property Without Overpaying

Luxury real estate in Georgia is not a marketing label. It’s a real niche with clear rules. For your investment to meet expectations:

1. 1. Visit in Person
      Photos hide road noise, proximity to Soviet-era buildings, and sewage smells. Come at different times of day.
   2. Check Land Documents
      Freehold is permitted only for citizens. Foreigners receive a 49-year lease with renewal options. Exceptions exist: purchasing over $500,000 in certain zones can grant full ownership rights.
   3. Work with a Local Expert
      Not a realtor, but a lawyer specializing in real estate. Their services cost $1,500–3,000, but they check developers for bankruptcy, lawsuits, and mortgage rights.
   4. Calculate ROI Including All Taxes
      Don’t believe developers’ claims of 15%. Real figures: 6–9% in Batumi, 8–11% in Gudauri after taxes, management, and vacancy.

Where to Look Now (Sea Inside Forecast):

• Batumi: Market is overheated by 20–30% over 2 years, but growth remains in the southern coast (Kobuleti to Sarpi)
• Tbilisi: Stable, with slow growth in Vake and Sololaki — good for long-term holding
• Gudauri: High-risk, high-return. Depends on infrastructure development and regional stability

Final advice from Sea Inside: Premium in Georgia is not about status, but smart investment. Buy what will be in demand today: sea-view penthouses, historic apartments in central Tbilisi, and freehold chalets in the mountains. Everything else is just expensive real estate without premium liquidity.