How to buy an apartment in Georgia cheap at a bargain price

So, the deal has been executed, and you have become the owner of your own home in one of the cities of Georgia. Someone buys an apartment or a house for themselves. Many people dream of having a cottage on the seashore, and here, in addition to a cozy house on the coast, there is also a fascinating historical environment and charming views of the mountains.

Buying an apartment in Georgia it gives not only the opportunity to spend a vacation, but also to completely move to live in Georgia. All conditions have been created here for the adaptation of immigrants, and the government is happy to support all ideas for doing business.

In case you are not planning to move, there are opportunities for you to receive passive income. The tourist flow increases from year to year. If 6 million tourists visited Georgia in 2015, then in 2019 this figure increased to 9.5 million. The pandemic in 2020, of course, had a negative impact on the country's economy and the flow of people entering the country, but the pace of real estate purchases only increased.

Buyers used remote ways to purchase housing, thus acquiring a source of income for future years. The borders will open sooner or later, and Georgia will be filled with crowds of visitors again. Apartment owners and hotels at this moment, they will feel all the joy of their possessions.

Дfirst you need to decide whether to buy an apartment in a new building or on secondary real estate market. There are certain pros and cons in each option.

Secondary housing is chosen based on the opinion of the tenants and the appearance of the house. That is, by the appearance of the building, one can judge the quality, reliability of the construction and the amenities available in the house.

New buildings in Georgia, especially at the excavation stage, they can only give a description in projects. Nevertheless, reliable developers with an excellent reputation are in great demand among investors. After all, a modern building provides a well-thought-out ventilation system, which prevents the development of mold (the climate on the coast is still very humid). There is also already a heating and communications system, which is often absent in old buildings.

Advantages of apartments in new buildings

• Ventilation, heating and communication systems are provided
• Modern technologies and materials ensure the durability of the building
• Stylish European interior
• Location in parts of the city with developed infrastructure
• Excellent views from the window, especially from the upper floors
• Security of transactions. The percentage of fraud is quite low in Georgia
• New apartments are more likely to be rented by tourists
• The opportunity to choose a residential complex – a hotel. All the work on finding and servicing tenants will be carried out by the management company, and you will only receive rent from them

Legal earnings on renting apartments are possible immediately after the purchase of secondary real estate in the resort cities of Georgia, for example, in Tbilisi, Batumi, Kobuleti. The income of the homeowner depends on the location of the apartment, the flow of tourists, repairs and other factors. On average, during the high season, a successful landlord can earn about 7 thousand dollars when renting daily. Thus, in popular resorts, additional income from investing in housing will amount to more than 10%, so investments in the Georgian real estate market will pay off in 8-10 years.

For this type of earnings , you can buy an apartment in a new building and in Tbilisi, and in Batumi, and in another resort city of the country. Each of them has its own advantages, its own tourist flow and its own prices per square meter.

Average cost real estate in Batumi it is $ 1500 per m2. Prices start from $400 and end around $2000 per square meter. The further away from the coast and the higher the floor, the more expensive. At the same time, you need to understand that when buying from a developer, the price will be announced to you for a “black frame”. This is a variant of rough finishing without internal partitions, coverings and communications. That is, everything is brought to the apartment doors, and repairs cost at least $ 250 per m2.

Naturally, there are “white frame” and “turnkey” options, but the prices there are slightly higher. At the same time, considering housing on the Russian coast or European, you will not find such prices. The cost per square meter in Sochi is more than $ 2500 and this is far from the first line.

Tbilisi is somewhat cheaper – about $ 1200 per square meter in the city center. In some areas of the city, you can buy an apartment for $ 600 per m2. Despite the fact that Tbilisi is not located on the Black Sea coast, the flow of tourists and foreigners is quite large. After all, this is the center of Georgia, diplomatic meetings are held here, deals are made, active participation in the economy and development of the country takes place. In addition, Tbilisi is the oldest city in the world, the historical significance of which cannot be exaggerated. Researchers and just interested tourists endlessly explore the mountains and regions of the country, immerse themselves in the atmosphere of antiquity and mystery.