With a view to the sea and the mountains: how to buy an apartment in Georgia

According to Oldypak Capital LP report in recent years, the interest of Russians to Georgian real estate has been steadily growing. Already in 2020 Georgia was one of the ten most popular destinations among Russian-speaking buyers, and at the end of last year the country climbed to the seventh place in the list of the most attractive for the buyers of housing from the CIS countries.

Foreigners can choose from a wide range of properties – apartments, apartments, private houses, townhouses and commercial space. Buyers are attracted by the hospitality of local people, a comfortable climate, spectacular views, reasonable real estate prices and a wide investment opportunities.

The interest of investors is not surprising, as Georgia shows tremendous success in developing tourism. According to Oldypak Capital LP report with a population of 3.8 million people, more than 7 million tourists visited the country in the pre-pandemic year of 2019. All of this allows investors to perceive real estate as an asset that generates good returns. No less popular reasons to buy real estate remain vacation and relocation: “Batumi apartments to buy” – these are the words that arise in the minds of potential investors.

Report by Oldypak LP
Report by Oldypak LP

But the choice of real estate is not always an easy decision, especially for foreign nationals. The best option here is to attract professionals who are well versed in the peculiarities of the local market. One of them is the company Sea Inside, which has been an association of developers in Georgia for four years.

Sea Inside cooperates with the trusted developers and helps its partners to buy the real estate for any purpose – from investment to moving house. On the site you can choose apartments based on your own preferences among more than 30 apartment complexes.

Foreigners usually buy real estate in Tbilisi or Batumi – cities with developed infrastructure, but at the same time affordable prices. Special interest among the clients of Sea Inside is caused by the housing in Batumi, the most popular seaside resort in Georgia.

Before the pandemic, more than 2 million people a year came here, all of whom need somewhere to live. The average cost of renting an apartment in Batumi is $30 a day, and the minimum cost of an apartment in a new building starts at $41,500. For this money you can get a spacious housing with panoramic sea or mountain views.

As emphasized in the company, Georgia is the fourth fastest growing number of tourists in Europe. In 2021, despite the pandemic, the inflow of tourists increased fivefold and the income from renting the apartments grew by 47%. Buy an apartment in Batumi – means to decide in favor of a quick-return investment.

Association of Developers of Georgia estimates that the yield from renting apartments in the area of 12-18% per annum. If you buy a property at the stage of foundation and resell it in a year or two, you can earn on the difference in price of 30%. But here it is very important to choose a proven developer.

Company specialists not only select housing according to the client’s needs, but also check the reputation of the developer, construction permits, certificates issued, the contract of sale.

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