Luxury real estate in Georgia attracts more and more foreign investors. Especially popular is real estate in Batumi. This seaside resort in recent years has consistently occupied leading places in world tourist ratings. Millions of holidaymakers provide a high demand for real estate, and demand, as you know, gives rise to supply.
Batumi is expanding and is being actively built up – dozens of residential and hotel complexes are being built in the city. Every 2-3 years, at least 10 new buildings are put into operation. The real estate market clearly represents international hotel brands – Hilton, Holiday Inn, Marriott, Wyndham. They open not only traditional hotels, but also apart-hotels in which investors can purchase apartments according to the standards of a particular brand.
How to buy an apartment in Batumi
Buying real estate abroad is not what you buy in your own country. In the case of Georgia, there are several ways. The first is to go to Batumi and look for an apartment on the spot, suitable for prices and conditions. During the pandemic, online shopping has become popular. Although border crossing restrictions have now been lifted (neither a vaccination certificate nor a PCR test is needed to come to Georgia), many still prefer a remote transaction instead of a trip. It is really convenient – you do not need to spend money on air tickets and accommodation. Another convenient purchase option is free tours to Georgia, which are arranged by some real estate agencies. However, it is worth dealing only with proven and professional companies with a good reputation.
How much does an apartment in Batumi cost
The price depends on many factors: condition, location, quality of construction. The most expensive property is on the first coastline (no more than 100 meters from the shore). The farther away from the beach, the cost is not much, but still lower. If we are talking about a new building, then it is cheaper to buy real estate at the construction stage – closer to completion, the price rises.
In the Georgian market, apartments in new buildings are sold in the following states: white frame, black, green, renovated, turnkey. On average, one square meter in Batumi costs from $700 at the stage of the pit and from $1300 on a turnkey basis. New ready-made turnkey apartments with an area of 40 square meters. m in a premium residential complex, built using high-quality building materials, close to the seashore can be bought for about $65 thousand. Buying real estate for $100 thousand allows you to get a residence permit.
Real estate has been and remains the most convenient way to preserve and increase savings. It is becoming more expensive every year, and first of all, new buildings are becoming more expensive. And Georgia has been and remains a hospitable country, where it is always pleasant to come to rest or work.