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Elite property in Batumi: how to choose

Posted On Wednesday, 13 July 2022 20:54

Why do foreign investors buy property in Batumi? How to choose a favorable option for purchase, and how much should I expect to pay?

Real estate in Georgia is becoming more and more popular with foreign investors every year. How can this be explained? Firstly, the country has simplified taxation and no real estate taxes. Secondly, Georgia in recent years has consistently ranked first in the ratings of popular tourist destinations. And entrepreneurs know: where tourists - there is money. Simple entry conditions (to enter, do not need a visa) and reasonable prices - two more advantages. Simply put, Georgia is a place where you can both relax and earn.

The most attractive by foreign investors is elite real estate in Batumi. The popular Black Sea resort receives millions of guests every year. The city grows like a yeast. New hotels, residential complexes, skyscrapers appear. Property owners do not have to worry about how to find tenants - the demand for resort property is very high. If you consider that daily rent costs from $50 per season, you can earn an average of $8 thousand to $12 thousand per year. Out of season, you can surrender monthly (the average bet in this case - from $500).

What to pay attention

Potential buyers of real estate in Batumi will have a hard time. On the market - a lot of offers! To make the right choice, focus on the following details. Pay attention to the reputation and history of the builder - whether he has completed projects. Do not hesitate to ask questions - it is better to find out all the nuances in advance, so that then there were no unpleasant surprises. If the realtor or the representative of the developer avoids answers or answers evasively, draw conclusions. Another factor to consider is the proximity to the sea. The closer, the better. If possible, read reviews of those who have already bought an apartment in this complex. And if you are not sure that you can handle yourself, you can contact the company Sea Inside - it helped about a thousand foreigners become owners of their own property in Georgia. Professionals will choose exactly what you need, and save you time and nerves.

New building in Georgia: prices and conditions

The first thing buyers of the apartment are interested in is its price. The price depends on several factors, among which the main ones are considered the following: district/location, condition/repair, view from the window, floor. The average cost varies from $500 per square meter to $3,000. Buying at the initial stage of construction, you can save. The finished apartment is more expensive. For example, ready-made apartments of 40 m² in the elite residential complex of Batumi can be bought for an average of $50-60 thousand.

Experts predict

Georgia is recovering very quickly after 2020. In 2021, according to the dynamics of the resumption of flights, it outperformed Spain, Turkey and Greece (data «Eurocontrol»). Quickly recover and suspended due to the pandemic growth rate of tourism. According to the forecast, its peak will be in 2023. By the way, the same in 2023, Batumi will host the ceremony of awarding the World Travel Awards, «Oscar» in the world tourism sector. By the way, Batumi already has in his luggage this award - in 2019 he won the nomination «The fastest growing tourist destination in Europe».

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