Housing by the sea is the best thing to invest in today. Real estate in Batumi will ensure a comfortable existence in the future. Why is it profitable to buy an apartment in a resort and how to choose it? | Sea Inside
The real estate market of Batumi is developing rapidly. Over the past decade, the construction sector has made a huge leap. The country attracts more and more foreign investors who find here a source of regular passive rental income. According to statistics, 40% of foreign buyers of real estate are citizens of the Russian Federation and the CIS, a lot of Europeans and residents of Central Asia and the Middle East. Last autumn, the authorities of Adjara announced a new grandiose project – artificial islands with elite hotels and villas will be built in the sea. It is expected that the Georgian equivalent of palm island in Dubai will make the region a central tourist destination.
Why an apartment in Georgia is a stable source of passive income
Because real estate is cheaper here, and rent is more expensive. Apartments in Batumi pay off twice as fast as in Alanya (Turkey) and three times faster than in Sochi (Russia). The figures also show that Batumi is the best city for investment. Rental income – 11-18% per annum (in the world on average – 4-10% per year). The rental rate in Batumi is 30-60% higher than the global average. You can earn from $ 6 thousand a year on rent. Investments pay off in 5-7 years. In addition, Georgia is a kind of “spare airfield” where you can temporarily live in case of a difficult situation at home. The Sea Inside database has a large selection of apartments and apartments in Tbilisi and Batumi.
Which area to choose
In the central historical part of the city, mainly, there is an old housing stock, in the new one there are many new buildings and large hotel and residential complexes. Some of them are operated by famous hotel brands (Marriott, Hilton, Holiday Inn). Real estate near the sea, on the first coastline, is especially in demand. Apartments within walking distance from the beach are in constant demand among tourists, which means they will never be idle.
What for how much
The price of real estate in Batumi varies from $600/m2 to $2000/m2 and above. The cost depends on the area, proximity to the sea, condition, floor, hotel network (if the complex has a management company). For example, you can buy apartments in the Blue Sky complex (Holiday Inn) at a price of $ 55 thousand. And ready-made turnkey apartments with an area of 45 sq.m in the White Sails complex – for $ 82 thousand.
