Land for sale in Georgia country – Top 7 Tips
Lands prices in Georgia differ according to their location, and that is because each region has a price for it, for example, if you are looking for land for sale in Georgia country located near the capital, Tbilisi, this price is higher than any other region and vice versa, the price allocated of agricultural land in Georgia is proportional to its place, where the price per square meter starts from $ 1,000 to $ 2,500.
Table Of Contents
- How to search for land for sale in Georgia country ?
- How to fund land for sale in Georgia country ?
- How to own Land in Georgia?
- Georgian Land Ownership Act
- Agricultural land prices in Georgia country
- Non -agriculture land prices in Georgia
- Buying land is a good investment
How to search for land for sale in Georgia country ?
1. Set your budget
Make sure to decide the amount you can pay and afford the property, without overextending yourself, of course, you would love to enjoy your new land without being stressed overpaying the dues.
2. Define property use
Focus on what will the land be used for? Is it for building a family house, agriculture, fishing, or investment? This way you are going to be more focused on intend and decide what of the available land will meet your needs.
3. Define property use
Always try to visualize the land of your dream, what it would be like? Is it near a creek? Does it have a pasture? How vast is the green area against the building area?
As long as you can specify the features you are looking for, you will be able to narrow down your search.
4. Find a professional real estate agent
The agent will defiantly help you to save your time, effort, money, and will help you to locate the perfect piece of land, because of their experience and ability to negotiate.
One of the most important things you should consider is location, try to determine first which area you will look for land for sale in Georgia, and ask for the zoning ordinances in the area where you want to buy.
6. Set Your Priorities
After you have done your research, try to compile and compare the information of each piece of land and confine your choices, so you can get a shortlist.
7. Set your plan for payment
Once you found the land of your wish, start to put your strategy for payment, discuss it with your real estate agent in order to reach the best agreement that suits your capabilities and obligations.
How to fund land for sale in Georgia country ?
Foreign citizens can open bank accounts in any Georgian bank without restrictions, they only need a passport and money, but in some cases as the case of large amounts, banks can request the declaration of income
In Georgia, all lands are separated based on the intended mission: agricultural allocation and the non-agricultural task.
How to own Land in Georgia?
Land prices vary greatly across Georgia based on several factors and the value of any land for sale in Georgia is determined by: -.
- Size of tract
- Percentage of high land
- Type of Usage
- Soil quality
- Sharing in timber value and improvements
Georgian Land Ownership Act
Foreigners can buy lands in Georgia, exactly as the Georgian citizens have. there are no extra requirements or fees for foreigners. A copy of the passport is the only needed document.
Investing in land and the real estate in Georgia has very high profitability return, based on all reports, evidences and studies. Georgia will become a leading country in attracting investments in the region, whether on land or properties.
By the end of 2017, new constitutional amendments were issued whereby the agricultural land for sale in Georgia is prohibited to foreigners,
The purpose of this law, “according to those in charge of it,” was to protect the agriculture and the agricultural area in Georgia from changing its infrastructure and crop structure in the long run.
However, the law allows long-term lease contracts for foreigners, so agricultural land is traded in a form of long-term “99-year” sale contract, instead of writing an express sale contract.
Constitutional committees of the Georgian Parliament are currently codifying the current situation by drafting a long-term rental law that is expected to return ownership of the land to the country after the end of the long rental value, after 99 years.
Complying with the new law will contribute to developing agriculture in Georgia and opening the door to more and more investment opportunities.
Agricultural land prices in Georgia country
That led to reducing the price of agricultural land for “long-term rent”. Instead, sale price per hectare, around ($ 1500 to $ 3,000 per hectare), depending on the region and its proximity to public roads, services, and water sources, you can now own a hectare (long-term rent) at prices ranging from only $ 1,000 to $ 1,500.
Usually, the prices of agricultural land in Georgia vary according to its location, being close to the capital, Tbilisi, where the highest prices, the further you move away, the lower the price is.
Whereas, those who want large projects that need large areas, such as raising sheep and cattle with large herds, prefer annual rent, which is an ideal way for those who start their agricultural and animal projects and are still anxious about agricultural or animal investment in Georgia.
In this case, the annual rent price per hectare is only from $ 100: $ 300 (on medium-size farms) equipped with housing, wards, and fences.
Non -agriculture land prices in Georgia
If you bought land for investment purposes (used for building a warehouse, shop, etc.) the price ranges are between $500: $1000 per meter. The law of freehold after the amendment stipulated that any legal or institutional person has the right to own all types of commercial lands (construction lands) in Georgia
Buying land is a good investment
Most people think that real estate investing in lands has only one form, which is buying land in a specific area and waiting for the rise in prices. Buying land, especially the ones with good quality in a growing area, near to available facilities is still a good investment for the long term.
Nevertheless, the best option is to buy land that is potential for generating income,
some of the best uses for large pieces of land is the conversion from one of the types of real estate to another more profitable type.
Since ages till now, and in the future, lands will be considered a fixed asset that can be transferred to any investment methods, such as converting them to agricultural, industrial, residential or commercial lands.
Examples are varying; as projects which can be done in a plot of land like factories, reclaim lands to be suitable for cultivation, and then you can do it by hiring people or renting it to people or companies to grow it, or to turn the land into a residential place or to become a commercial building.