Batumi real estate in Georgia has become lately one of the most important fields of investment, it attracts foreign investors, especially Russian citizens with the purpose of further lease and short-term vacation.
In addition to the high returns that investors can achieve through real estate investment in Georgia, another advantage they can have, which is the possibility of obtaining residency in this country.
All procedures are recognized by clarity, comprehensiveness, and speed. All procedures have fixed fees. You will not be able to pass any illegal transactions by paying bribes and tips.
Batumi is in second place – from popularity in the field of real estate investments- after Tbilisi, the capital of Georgia, in the first quarter of 2019, 2,720 residential property was sold, comparing to 12,303 in the year 2018.
Batumi real estate gained its popularity among foreign investors by its tourist orientation, no wonder that the number of tourists that visited Batumi in 2018 reached 1,4 million and the city received the World Travel Awards in 2019 as one of the best tourist destinations in Europe, which promoted its reputation among investors.
Table Of Contents
Why investing in Batumi real estate?
Georgia is located in the Caucasus region, Western Asia and Eastern Europe. It is bordered to the west by the Black Sea, to the north by Russia and the south by Turkey and Armenia. As for the east, it is bordered by Azerbaijan. Georgia covers an area of 69.875 square kilometers. Georgia is considered an ideal trade center linking Asia, the Middle East and Europe, which makes it a distinguished center for all types of investment, whether it is an investment in real estate or any other type of investment.
The fact that the apartments average prices in 2018 has increased for 5,5% in USD, and the gross rent profit from leasing in Batumi real estate is at the level 9,5%, which exceeds the interest rates on deposits, makes investing in real estate in Georgia is an excellent option for businessmen, investors, and people who are looking for a suitable environment that provides them with all the necessary ways of investing money.
Noteworthy, the World Bank has recognized Georgia in 2003 as one of the fastest-growing economies and fighting corruption in the world, and as ninth in the world (out of the 185 countries surveyed) to ease doing Business in June 2012.
The expanded market area
Georgia’s liberal trade systems provide investors with favorable opportunities to reach the country’s 4 million population and the region’s outer market, as a direct result of the absence of customs and import tariffs,
Also, Georgia has signed free trade agreements with countries like Ukraine, Kazakhstan, Tajikistan, Uzbekistan, Turkmenistan, as well as their neighbors Turkey, Azerbaijan, and Armenia, which made them at the forefront of countries that provide the best ways to invest money, whether in real estate investments or other areas of investment.
A free trade agreement with the European Union
There are almost no customs duties with 90 percent of goods exempt from import duties without any restrictions on quantity, and the average time for customs clearance is currently 15 minutes.
In addition to a free trade agreement with the European Union, there are general regulations with the United States, Norway, Switzerland, Canada, and Japan, which led to lowering tariffs on 3,400 goods exported from Georgia and in addition to Georgia being a member of the World Trade Organization.
Cost of Energy
Georgia is the gateway between Europe and Asia, which gives many advantages for investors in the manufacturing and other sectors that require energy.
Georgia does not only offer the advantage of competitive work, low taxes, and a corruption-free environment to serve the region but rather gives many preferential energy costs free trade agreements that are the result of lower energy costs compared to other neighboring countries and Europe.
The average monthly salary in Georgia is $ 490 and includes white- and blue-collar workers as well as C-suite employees. There are no minimum wage regulations in the country, which is an added benefit in investing in Georgia.
Also, the unemployment rate there is about 14.6%, and the Georgian labor market provides job opportunities for young people, no visas or work permits is needed for citizens from about 100 countries, this helps to attract professional staff from other countries in a wider area for everyone who decides to invest in Georgia.
Georgia has a very flexible labor law and has one of the most liberal working environments not only in the region but globally. The Freedom of Employment index is 79.9 out of 100 (ranked 24 worldwide).
Weather in Batumi
If you are thinking of Batumi real estate as an investment or as a place to live in, you should know better about its weather.
Batumi has become a wonderful summer destination for tourists from all walks of life to enjoy a wonderful array of amazing tourism experiences, activities and events. This charming city has seen lots of change in the recent years, enabling its visitors to enjoy many attractions, international hotels, and wonderful scenes for dining and a bustling nightlife, which satisfies all visitors’ tastes and desires.
The location of Batumi next to the Black Sea gives it an important position in the economy of Georgia and makes it a popular summer tourist destination for people who want to enjoy the best beaches in Georgia.
Because of its location on the Black Sea, Batumi has a mild climate all year-round, away from the harsh cold in winter and very hot summers. The average temperature in winter is 5°C, while the highest temperatures in summer are around 25°C.
In summer, the city of Batumi turns into a charming popular destination, thanks to its picturesque beaches, where you can spend the happiest time between the soft sand and the beautiful crystal waters and countless opportunities for enjoyment.