Buying real estate in Batumi: basic issues

Modern buildings are residential complexes. More and more high-rise buildings, so-called "skyscrapers", are appearing in Batumi. Multifunctional buildings with residential and commercial premises.

Experts warn that new buildings is a definite risk. Especially when buying remotely, when you choose and buy real estate in a house under construction. The developer may turn out to be unscrupulous.

As a result, construction deadlines are not met, or the object is not completed. It also happens when the buyer is present in person, if the real estate market is poorly studied. It is better to buy after the commissioning of the object.

New buildings have important advantages:

• Unlike secondary real estate there is new wiring, pipes and plumbing;
• Companies-builders often offer interest-free installments.

In Batumi, there are many proposals on the secondary real estate market. This segment has some advantages over new buildings:

• A large number of offers in different districts of the city, especially important for those who have taken a fancy to the Old Town;
• developed infrastructure;
• walking distance to attractions;
• the ability to move in immediately after the purchase;
• offers for urgent sales at discounted prices.

On the secondary market in Batumi distinguish panel apartment buildings and old stock.

Old Fund are old buildings in the center of Batumi, which have a historical value. Used to be built in very high quality, so many houses are in good condition. There are traditional Italianate courtyards and individual buildings.

But...

If the house belongs to the historical, protected objects, the owners can not without the permission of the authorities to make major repairs, remodeling, etc.

In such houses, there are often no toilets and bathrooms directly in the apartment. They are located in the common area.

Panel apartment buildings built en masse in the middle and second half of the 20th century. They have a classic layout. Some of these houses are located in central areas of the city.

Minus is that many houses are not in very good condition now. There appeared chaotic additions to the facades of buildings, homemade loggias, balconies. This increases the area of the property and, accordingly, the cost.

There are some points to which you need to pay attention when choosing a secondary real estate:

- Neighborhood - directly in the house and adjacent structures;

- the period when the house was built and when the major repairs were made;

- the state of plumbing and other communications.

If you want to buy real estate in Batumi by the sea, consider the areas of Old Town. These are cozy streets, old houses, landmarks.

"First line" - houses in close proximity to the sea.

"Inner Center" - neighborhoods behind the coastline, surrounding the historic center. It is partially preserved houses 19th - early 20th century. At the beginning of the 21st century, the area has been transformed. There appeared new fashionable buildings, hotel skyscrapers.

The new neighborhoods are a mix of traditional buildings, skyscrapers, restaurants, and other places for recreation and entertainment. New Boulevard, both first line by the sea and a little further from the coast, is being actively built up.

On the outskirts of Batumi, built cottage villages. New villas and townhouses with views to the sea and mountains appear near the airport.

Construction is also going on in villages near Batumi: Chakvi, Gonio, Makhinjauri, etc. This is "periphery", recognized tourist spots with clean beaches. Property here is expected to be in demand.

Most sales are made in the "First Line". And in the last 3-4 years actively selling real estate in new buildings in the area of New Boulevard.

Among the most popular places in Batumi, where vacationers like to live:

• Chavchavadze Street;
• Gorgiladze Street - restaurants, boutiques, banks and other infrastructure;
• Rustaveli Avenue - stretches along the coast;
• Pushkin Street - remote from the sea, so the prices for housing are low.

Russians often buy real estate in Georgia and, in particular, in Batumi because of affordability. For example, an apartment in a new building in Batumi, without finishing and communications ("black frame") will cost about $ 45,000 (≈ 3,352,500 rubles).

In the central part of town, the cost is higher than on the outskirts. Affects the prices and the view of the window.

The average cost per square meter - $ 1100-700 (81,950-52,150 rubles). It is possible to find even for $300-500 (22,350-37,250 rubles) in a new building, "black frame", away from the center and the sea.

An apartment in a premium complexes in the first line from a proven developer (for example, the companies Orbi and Alliance Group) could cost up to $2,500 (186,250 rubles) per sq.m. Large companies are building hotel-type residences and creating comfortable living conditions. And this costs money.

The stage of construction also affects the cost. Thus, in the initial stage - $ 500-1000 (37250-74500 rubles) per 1 sq.m. And in the completed house the same apartment can cost 600-1500 dollars (44 700-111750 rubles).

The prices on the secondary market are also different. For example, a 40 m2 apartment in the city center - from $30,000 (2,235,000 rubles). In a private home - from $800 (59,600 rubles) per square meter.

There are a variety of return on investment in the purchase of a home. For example:

- Bulgaria - 7-10 years;

- Spain - 8-12 years;

- Israel - more than 15 years.

In the resort areas of Georgia, investments in housing return for about 4-6 years.

The cost of renting residential real estate in Batumi varies depending on the season. The highest - from May to October, when most tourists and those who come to the Black Sea coast to work.

Now that there is a general economic crisis and some decline in the tourism business, investment in real estate can be seen as a long term.

But this is not a reason to abandon investment in the purchase of real estate. Some experts advise just now to buy, because the price per square meter is lower than usual, pre-crisis.

It has been seen that even the long-term rental income is higher than the profitability of a deposit in a Georgian or European bank.

The best investment is an apartment in a residential complex by the sea, with a large area and developed infrastructure.

Before the deal, it is important to check the "legal clearance" of the property. The room should not have any encumbrances or be in a pledge.

To check such details and competent execution of documents for the transaction requires an experienced lawyer. This is important to consider for foreigners. Just like in many other countries, there are certain nuances of the deal in Georgia.

Usually legal support costs about $100 (7450 rubles). It is cheaper than the services of a realtor. A realtor in Georgia is not responsible for the risks of the deal and the problems that may arise after the purchase of the property.

The buyer needs a document proving his or her identity. The seller must present not only a passport, but also an excerpt from the state register. Preliminarily necessary to pay the state duty - 55 GEL (≈ $ 18 $ or 1320 rubles).

Signing the contract of sale passes in the House of Justice in the presence of a consultant. He also registers the new document in the state register. The contract is made in Georgian language. For foreigners need a notarized translation. One page costs from about 10 lari (≈ 240 rubles).

The cost of documents confirming the transaction depends on the urgency of data entry in the registry. Urgent (same day) registration costs 200 lari (≈ 4800 rub.), in a day - 150 lari (≈ 3600 rub.), in 4 days - 50 lari (≈ 1200 rub.).