Buy Property in Georgia

Buy property in Georgia, which has attracted a lot of attention from investors in recent years. This issue has also had a great impact on the economy of Georgia. Undoubtedly, in order to buy a property in another country, you will need extensive research so that you can safely step on this path. Therefore, if you intend to buy property in Georgia, stay with us to get comprehensive and complete information about this issue.

Buying property in Georgia offers numerous benefits, making it an attractive choice for investors and homebuyers alike. The country boasts affordable real estate prices compared to many European destinations, with a straightforward purchasing process for foreigners. Georgia’s strategic location, growing economy, and investor-friendly policies enhance property value over time. Additionally, no property taxes and high rental yields, especially in tourist-frequented cities like Tbilisi and Batumi, make it a profitable investment. Whether for personal use, rental income, or long-term appreciation, buying property in Georgia presents a smart opportunity with promising returns. Here we will look more into these advantages that makes buying property in Georgia a favorable option to consider.

One of the main reasons for the popularity of buying property in Georgia among foreigners is the absence of property taxes. In fact, according to the rules about Tax in Georgia, a person who owns a property in Georgia will not need to pay any taxes just to maintain and use the property.

Another advantage of buy property in Georgia is the reasonable price of property in this country. In the best area of Tbilisi, which is the capital of Georgia, in a tower with many amenities, including a swimming pool, club, meeting hall, etc. you can buy a furnished apartment unit for about $3,000 US per square meter. Compared to many countries, especially similar countries, this price is equivalent to the price of a simple property in a medium area. Also, for example, if you are planning to buy a furnished apartment unit in the middle area of Tbilisi city in a normal building, you can experience a good purchase by paying about $1,200 per square meter, which is also very cheap, compared to many similar countries.

Georgia’s exceptional social security is one of the other factors that has attracted investors to purchase property in the country. It is interesting to note that in recent years, Georgia has consistently ranked among the safest countries in the world. It may appear strange, but if you live in Georgia, you might not hear about a theft or disturbance even once a year.

Property prices in Georgia have risen by an average of 40% over the last two years, prompting international investors to consider Georgia as a viable investment and property purchase destination. As a result, it is reasonable to conclude that investment in Georgia has increased significantly.

Georgia can be considered one of the peaceful countries with global commercial and political relations. According to the Fraser Institute, Georgia is the 12th most free-traded country in the world, and as a result, investors are interested in buying property in Georgia.

Georgian people are very hospitable and kind and have a very good relationship with foreigners. For this reason, the number of immigrants to this country is always increasing. If you travel to this country, you can easily feel this good behavior.

Georgia, is a country in Eurasian territory. This country is located between Europe, Russia, and Central Asia, and it is close to the countries mentioned above. This makes commuting much easier for the people of these countries. Also, Georgia can be reached by land, air, or sea, which is regarded as one of Georgia’s major advantages in the international transportation system and has prompted more international investors to consider to buy property in Georgia because it is simple and quick to travel to Georgia and use their property.

Buying property in this country requires extensive research and having the needed knowledge about the ways to finalize the property purchase, here are each step to buy property in Georgia:

1. To buy property in Georgia, you first need to find a reliable and professional property consultant to introduce you to the best property files according to your budget and conditions.
2. It is recommended to know the different cities of Georgia and get complete information about each of them. Check several different files including villas, apartments and land so that you can find the area you want to buy property in Georgia.
3. After the property has been approved by you, you need to go to the Public Utilities Office with the seller of the property, who will be a person or a company, and while paying for the property in cash or transfer to the seller’s bank account, sign the property and transfer documents.
4. It is possible to receive the document of the purchased property in 3 ways: on the same working day by paying 300 GEL, after 1 working day by paying 220 GEL and after 4 working days by paying 75 GEL. The document is issued online and you can easily view your property document by entering the property registration code on the Georgian Real Estate and Documents website. This method of issuance has had a significant effect in preventing any abuse and fraud. The noteworthy point here is that you can sign the documents in a translated form in the presence of an official translator in the government offices of Georgia in the language you are fluent in. This will help you stay away from scammers and read the text you sign carefully and completely.

Apartments are one of the most popular types of properties for purchase by buyers and investors. The cost of apartments in Georgia has undergone significant changes and advancements in recent years. One of the factors that make purchasing an apartment in Georgia appealing to investors is the comparatively low property prices compared to European countries. However, it can be generally stated that apartment prices in different cities or regions of Georgia vary based on various criteria. Let’s explore this topic in more detail.

As mentioned earlier, apartment prices in Georgia are influenced by various factors, including economic, social, and political factors.

• Location: If you examine the article comparing apartment prices in Tbilisi and Batumi, you will find that one of the main factors affecting property prices in Georgia is the location. Naturally, property prices in major cities like Tbilisi and Batumi are higher than in other cities. However, these cities are also divided into different districts, and property prices vary in each district.
• Economic Situation: Economic growth, inflation rates, and exchange rates directly impact housing prices. Economic prosperity usually results in increased purchasing power and, consequently, higher prices.
• Market Conditions: Demand and supply in the housing market in Georgia play a significant role in determining prices. Increased demand usually leads to higher prices.
• Growth in the Tourism Industry: Tourism is one of the main industries in Georgia. The growth of the tourism industry can increase the demand for short-term apartment rentals and, therefore, drive up prices.

Typically, there is greater demand from investors to purchase properties in major Georgian cities such as Tbilisi and Batumi. The average price of apartments in Tbilisi is $1,600 per square meter, while in Batumi, it is $1,500 per square meter. In fact, the average price of apartments in Georgia is determined based on the specific city. However, there are other factors involved in this matter, which we will discuss in detail in the following section.

Here are some of the best areas to invest in Tbilisi which is the capitol city of Georgia, these districts are by far the most popular options for both students as well as homebuyers and investors.

Vake is Tbilisi’s most prestigious district, known for its luxury and modern lifestyle. It has the city’s highest real estate prices. Vake, located in the western part of Tbilisi, has long been a popular residential area for wealthy Georgians and politicians. What distinguishes this neighborhood is its beautiful natural surroundings and a diverse range of recreational amenities, including the well-known Vake Park and numerous top-rated restaurants.

Saburtalo is one of Georgia’s best neighborhoods and the largest district in Tbilisi. This neighborhood has a variety of convenient amenities, including shops, universities, and restaurants. There are also numerous parks, both large and small, where you can spend summer evenings or take peaceful nighttime walks. Saburtalo represents modern living through a variety of architectural styles, ranging from sleek and luxurious to charmingly traditional.

Didi Dighomi is a neighborhood in Tbilisi with low property prices for both renting and purchasing, making it an excellent choice for living. There is no metro station in the area, but it is close to the city center and the Saburtalo district. You can easily get around using public transportation, such as buses, minibuses, and taxis. Didi Dighomi, located in the western part of Tbilisi, has experienced impressive growth and development in construction due to the availability of non-agricultural land. As a result, the majority of the buildings in this area are new.

Despite being slightly away from the city center, Isani is a viable option for living in Georgia due to its easy access to Tbilisi’s commercial districts. It is located in the southeast of the city, close to Old Tbilisi, and includes the popular Isani Mall. Property prices in this area are relatively low, and the presence of a metro station provides easy access to the city center.

Bagebi is a luxurious and desirable neighborhood in the heart of Tbilisi, Georgia. Its central location within the capital city distinguishes it as one of Georgia’s best neighborhoods. Bagebi provides a peaceful environment for residents and tourists, as well as convenient urban amenities, well-developed infrastructure, beautiful natural attractions, and a variety of architectural styles. Its close proximity to the prestigious Vake district allows for easy access to other vibrant neighborhoods.

Dighomi is a vibrant and culturally rich neighborhood in Tbilisi that is popular among both locals and visitors. Its central location in the city makes it easily accessible and is widely regarded as one of the best places to live in Georgia. The presence of a prestigious international university has increased demand for rental apartments in the area, attracting investors seeking a high return on investment.

There are many types of properties in Georgia in terms of construction which differ from finish type to type, in this section you can learn about the difference of construction types in Georgia such as: Black-frame, White-frame, Finished and furnished.

Black building or black frame: This type of property, which is very popular in Georgia, is actually a building that is apparently completed. In the Black frame property, the facade of the building, corridors and common areas are complete, but when you enter the unit, you will see an empty cement cube. In this type of property, the electricity, gas and water branches are extended to the door of the unit and you have to complete the inside of the unit yourself according to your taste. If you intend to buy this type of property in Georgia, you can get help from a professional and experienced design and renovation team to design and implement your building from 0 to 100 at the most suitable price and in the shortest possible time.

White Building or White Frame: In this type of property, as in the previous case, the facade of the building and common areas have been completed, but when you enter the unit, in addition to the internal walls, you will see that simple plastering, gas piping, and internal electrical wiring have also been done to some extent. In this way, it will be up to you to make the floor, ceiling and walls. To complete the white or white frame building in Georgia, you can also get help from the building renovation expert team in the design and renovation department.

Completed Building: In this type of building, all the internal affairs are done and the only thing you need to do is move the household appliances inside the property so that you can use them.

Furnished Building: In this type of property, all works are done and fully decorated. Therefore, the necessary items for living are at home and you only need to move your personal items.

If you are planning to buy land in Georgia, stay with us to check the types of land in Georgia.

Non-agricultural land in Georgia, as its name suggests, has a non-agricultural use. The important point for those who want to use non-agricultural land for their desired construction is to check its construction permit and the level of occupancy (k1) and its density (k2).

The simplest and most understandable definition can be expressed as the occupation level means how much of the area of this land can be built and the density means how many meters of buildings can be built in that occupation level. For example, the ground is 1,000 meters and its occupancy level (k1) is 0.5; it means that a building can be built on 500 meters of this land and the rest is for the yard and common areas. And its density (k2) is 1.5; it means that 1,500 meters of building can be built on the occupied level of this land.

In Georgia, agricultural land is typically used to grow crops. According to Georgian law, non-Georgians are not permitted to purchase agricultural land or houses on agricultural land. Since the sale of agricultural land to non-Georgians buyers is prohibited, there is no need to elaborate in this article. Georgia attracts many agriculturalists due to its favorable weather and fertile soil. Leasing agricultural land in Georgia for long periods of time, such as 20 years, is a popular way to invest in agriculture, and it is especially appealing to international investors.

It is necessary to explain that the demand for non-agricultural land is high due to the profit and suitable environment for investing in the construction industry in Georgia, but note that buying non-agricultural land in Georgia has very small and important points that should be consulted by professional experts in buy property in Georgia. Therefore, the experienced experts of SisnoGroup are ready to advise and accompany you in this matter.

One of the types of property that is very popular in Georgia is a villa. The price of a villa in Georgia is very reasonable and cannot be compared with other countries. For example, you can buy a luxury 300 square meter finished villa on a plot of about 1,000 square meters in one of the best villa areas of Tbilisi for around $450,000 to $600,000. When buy a villa in Georgia, you should keep in mind that the land must be non-agricultural.

There are no restrictions on purchasing commercial or residential properties for foreigners in Georgia. The only needed document from the individual purchasing the property is his/her passport which makes the process much easier. In this country people who have residential permit share similar rights compared to citizens with the exception of voting, this means having a residential permit allows the person to buy any type of apartments, villas, houses, retail spaces, offices, hotels and shops, However, there is an exception.

According to the Georgian laws, since 2017 any non-citizen person is prohibited from buying and owning agricultural land. Because of this some homes that have gardens may also be restricted for foreign buyers; despite this restriction the property market remains open to international buyers offering great investment potential and returns as well as good property appreciation value over time. The high demand property market, combined with investor friendly environment makes Georgia the perfect place for long-term investors seeking to start their investment journey.