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02.13.2022
Reading time: 2 minutes
Author: Sea Inside

Income from real estate in different countries

Where is it more profitable to buy an apartment or a house to earn money? In Georgia or Turkey? Montenegro or Russia? Let's compare countries in terms of investment attractiveness.

You can buy real estate with a guaranteed income at the Association of Developers of Georgia Sea Inside. Before the deal, study the market in the country of interest. Pay special attention to the payback - this parameter will show more clearly than the others how profitable the purchase is. To begin with, we note what are the income from real estate. In short, they are of two types:

1. On resale - buy at the stage of excavation and sell upon completion of construction (for example, in Batumi, you can earn about 30% on this).
2. On rent (daily or monthly) - this method works especially well in tourist countries.


Georgia
The absence of tax, reasonable prices (on average $1400/m²) and quick payback (about 5-7 years) attract foreign investors to the country. Foreigners buy apartments here for living and earning money. Most often, investors choose Tbilisi and resorts. Batumi real estate is especially attractive. On average, apartments by the sea on the first coastline can be purchased for $40,000. Renting them out, you can earn an average of about $5,000 a year. A separate bonus is the opportunity to obtain a residence permit. To do this, you need to purchase a house or apartment worth at least $100,000. We talked in detail about how to maintain apartments in Batumi here.


Russia
Apartments in Sochi are among the most expensive in Russia, second only to those in Moscow and St. Petersburg. According to experts, real estate in this Black Sea resort is overvalued - it is 30% more expensive than its real value. Price 1 sq. m - from $ 1500 and above. For $40,000 you can buy a secondary property in a residential area of ​​30 sq. m. with old communications. For this amount in Batumi you can buy apartments on the first coastline with a sea view from world hotel brands. In Sochi, such apartments cost about $250,000 and more. In addition, in the south of Russia - high tariffs for utilities. Add to that taxes and other obligatory payments. If a house in Sochi will bring income, then in the long run.


Turkey
In Turkey, tourism generates income due to the large number of tourists: the industry's share in the country's GDP is 11.3% (for comparison: in Greece - 8%, in Georgia - 15%). However, the tourist flows are qualitatively different. Those who are attracted by the all-inclusive service go to Turkey. They usually stay in hotels - apartments are reluctant to choose. Private investors are being stopped by new rules that Turkey introduced in 2019 that have made it harder to buy. Now, before purchasing, the client must receive an expert assessment. The appraiser's services cost $135. The mandatory tax on registration of property rights has increased: before the innovations it was 3%, now it is 4%. And some more numbers. The average price for 1 sq.m is $1770. Purchase tax - 4%. Registration - $ 4217. Payback - from 13 years. Profit per year on average - $ 4100.


Montenegro
Registration in Montenegro costs $7337. This is a fee for the services of a lawyer, notary, realtor, entry into the cadastre. Registration lasts 30-60 days. Purchase tax - 3%. On average, 1 sq.m costs from $3500/m². Payback - about 20 years. If you are looking for a studio apartment in Montenegro, count on at least $100,000. And remember that in Montenegro, an urgent problem for residents and tourists is the lack of central gas supply.
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