Georgia and Turkey are two of the most talked‑about markets in Eurasia for overseas buyers right now. Georgia vs Turkey real estate is not just about “where prices are lower”, but about how simple it is to buy, what taxes you pay over 5–10 years, and how stable your rental income and legislation are likely to be. For many Sea Inside clients, Georgia wins on simplicity and tax efficiency, while Turkey offers scale, citizenship options and strong tourism yields – but with more complexity and moving parts.
Overview of Both Markets
Georgia’s real estate market has been growing fast since 2021, driven by tourism, migration inflows and economic growth; some sources cite average annual returns between 6% and 12%, and more than 10% for beachfront properties in top locations. The country is known for easy property registration, low transaction costs and a territorial tax system that only taxes Georgian‑sourced income, which is attractive for international investors.
Turkey, by contrast, is a much larger and more mature market with established resort cities (Antalya, Alanya, Bodrum), megacity Istanbul and a long track record with foreign buyers. Nationwide gross rental yields average around 6.5–7%, with big cities like Istanbul showing yields around 6.2% on average and some coastal areas reaching 7–10% depending on segment. Turkey’s scale and citizenship‑by‑investment program make it very visible globally, but also come with higher taxes and more complex regulations than Georgia.
Buying Process Comparison
In property investment Georgia, the buying process is unusually straightforward for foreigners. Law firms and investment guides emphasize that foreign buyers can purchase almost any type of real estate (except agricultural land) without restrictions, minimum thresholds or special approvals. There is no property transfer tax, registration typically takes 1–4 working days, and the main costs are low registration fees and, in some cases, VAT if buying from a VAT‑registered developer.
In Turkey, foreigners can also buy freely in most areas, but there are more formalities. Purchases require a title deed (TAPU), military clearance has largely been phased out but zoning and regional restrictions still apply in some locations. There is always a 4% property transfer tax (usually split between buyer and seller) plus possible VAT on new developments, stamp duty and various government fees, so all‑in transaction costs can easily reach 8–10% of the purchase price when you include legal, agency and ancillary expenses.
Sea Inside’s experience with clients who own in both countries is that “time and paperwork to close” are usually lower in Georgia: fewer approvals, cheaper notaries and simpler due diligence once a clean title is confirmed.
Prices and ROI
When investors compare Georgia vs Turkey real estate, they usually look at seaside cities like Batumi vs Antalya or Alanya, and capitals like Tbilisi vs Istanbul.
In Georgia, sources focused on 2025 report annual returns on real estate between 6% and 12%, with beachfront and top touristic locations at the upper end of this range. International overviews even highlight that some investors have seen 30–50% total price growth over recent years in fast‑developing Georgian markets, though that kind of appreciation should not be treated as a permanent baseline. Rental income on residential units in cities like Batumi often falls around 7–10% gross in good projects, and well‑managed hospitality units can go higher.
In Turkey, multiple sources put average gross rental yields at about 6.5–7% nationwide, with Istanbul apartments generating around 2.8–9% depending on district and an overall citywide average of roughly 6.2%. Antalya, Izmir and other coastal markets typically show ranges from about 5% to 8%, while carefully chosen tourist properties can reach 7–10% gross yields thanks to strong demand and higher nightly rates.
In simple terms:
- Georgia’s ROI is boosted by low taxes and low running costs, so 6–10% gross often translates into solid net figures.
- Turkey’s ROI benefits from strong rental demand and tourism, but higher purchase and annual taxes, plus higher maintenance in some resorts, can reduce net yields if not properly modelled.
Legal Aspects for Foreigners
For property investment Georgia, the legal environment is one of the biggest advantages. Foreigners have almost identical ownership rights as locals, can buy freehold apartments and commercial units directly in their own name, and there is no stamp duty on acquisition. Georgia’s tax system is territorial, meaning foreign‑sourced income is not taxed for residents, and local taxes on real estate are modest:
- no purchase tax;
- rental income from residential property taxed at a flat 5% if the landlord registers in the relevant regime;
- capital gains tax of 20% if you sell within two years, but zero if you sell after holding for more than two years.
In Turkey, foreign investors also enjoy strong ownership rights but face a more layered tax environment. Typical tax components include:
- 4% property transfer tax on the declared value;
- VAT of 1–18% on new properties, though foreign buyers can sometimes claim exemptions under specific conditions;
- annual property tax of 0.1–0.6% of the cadastral value, with higher rates in major cities;
- capital gains tax if the property is sold within five years, with progressive rates roughly from 15% to 40% depending on gain.
Rental income in Turkey is taxed progressively as personal income; investor guides mention bands ranging from about 15% up to 40%, with some exemptions and deductions for mortgage interest, maintenance and related costs. This means tax planning is much more important in Turkey than Georgia if you intend to operate a larger rental portfolio.
From a legal‑risk point of view, Sea Inside typically notes that Georgia’s system is more transparent and predictable at small and mid‑ticket levels, whereas Turkey offers more legal tools and incentives at the price of more complex compliance.
Side‑by‑Side Snapshot
| Factor | Georgia | Turkey |
| Ease of purchase | Very simple, minimal restrictions, fast registry | Straightforward but more formalities, higher paperwork |
| Purchase/transfer tax | 0% (no transfer tax; small registration fee) | 4% transfer tax on value |
| Annual property tax | Often 0% for non‑income residential; generally 0.1–1% tied to income/ value | 0.1–0.6% of cadastral value, higher in major cities |
| Rental income tax (residential) | Flat 5% on gross if registered regime is used | Progressive ~15–40% with exemptions/deductions |
| Capital gains tax | 20% if sold within 2 years; 0% after 2 years | Taxed if sold within 5 years, progressive 15–40% |
| Typical gross yields | ~6–12%, 10%+ in beachfront/prime | ~6.5–7% nationwide; 5–10% in main cities/coasts |
| Foreign ownership limits | No nationality limits (except agricultural land) | Generally allowed with some geographic/zoning exceptions |
Final Verdict
So, Georgia vs Turkey real estate – which is better? There is no one‑size‑fits‑all answer, but the trade‑offs are clear:
- Georgia tends to win on simplicity and tax efficiency: easy purchase, very low transaction costs, flat 5% rental tax and no capital gains tax after two years make it especially friendly for small and mid‑sized investors who want clean net numbers and minimal bureaucracy.
- Turkey tends to win on scale and diversification, offering huge markets like Istanbul and major resort belts where strong tourism and domestic demand support resilient yields, plus the added benefits of citizenship‑by‑investment for those who meet the thresholds.
For investors whose main goal is straightforward property investment Georgia – for example, a few apartments in Tbilisi or Batumi with 6–10% gross and low tax friction – Georgia is often the more efficient and predictable option. For those aiming at very large portfolios, brand‑name developments or citizenship, Turkey may justify its higher tax and regulatory burden with bigger scale and more tools.
Sea Inside usually advises clients to start with a clear profile:
- If you value low taxes, fast processes and transparent rules, Georgia deserves to be your first port of call.
- If you are prepared for more complexity in exchange for a broader, more mature market and potential citizenship routes, Turkey can complement or follow your Georgian investments.
Framing the decision this way turns “compare Georgia Turkey” from a vague question into a practical strategy: choose the country whose rules and risk–reward profile match your capital, time horizon and appetite for bureaucracy.
