How to Buy Property in Georgia: A Complete Guide

The development market of Georgia is developing rapidly. The market offers a large selection – from flats and apartments to penthouses and villas. More and more foreign citizens are looking at the country and buying real estate in it. Some are for investment, others are for permanent or temporary residence.

Luxury real estate in Georgia: to buy or not

The country is a popular tourist destination. It is visited by millions of tourists. Real estate in such countries is not idle. Renting apartments and houses has become one of the most common ways to earn money for both local residents and visitors.

High demand led to a construction boom. Dozens of new residential complexes are built annually in Tbilisi, Batumi and other cities. Developers work in any segment – budget, premium, elite.

What is the reason for such high demand? First, affordable prices. A two-room apartment in a high-quality new building in a convenient area of Tbilisi can be bought for 60-70 thousand US dollars. The second important factor is that the apartment pays off quickly, that is, the investments made quickly return, and this is the main determining factor for successful investments. On average, the payback period is 5-7 years (for comparison, in European countries – about 15 years).

How to choose the right option

The choice in the market is huge. However, an experienced buyer knows that the greater the choice, the more difficult it is to choose. There are several ways to select real estate. The first is a regular review of local aggregator sites. The web pages of most of them have English versions. This method has its pros and cons. The pros are that you can immediately communicate with the owner. The disadvantages are that it is not easy to do this – private brokers also actively use online platforms for sales, so you can often find the same apartment exhibited by different people. The second way is to contact realtors or agencies. They charge a commission for their intermediary services (on average, 1-3%), but they know what corresponds to the needs of a particular client from a variety of offers. The main thing here is to deal with reliable, experienced companies or individual specialists who have been working in the industry for a long time and value their professional reputation.

Design: step-by-step instruction

It is easy to arrange a house or apartment – this is another advantage, thanks to which the country attracts buyers. You can register a purchase in one day. The procedure is extremely simplified and inexpensive. It is enough to have only a passport and about 70 US dollars to pay the state duty. The purchase and sale transaction is concluded in any branch of the House of Justice (there are about 50 of them in the country). The day after signing the contract, the new owner receives a code from the State Register confirming the ownership of the property. If we add to this the fact that there are no taxes in the country either on the purchase of real estate or on ownership, it becomes clear why Georgia is a country in which it is not only pleasant to relax, but convenient to live and earn.