Batumi is considered the second Georgian capital after Tbilisi, it is a coastal city located on the outskirts of the Black Sea coast. Batumi is an important commercial center due to its distinct’s strategic location. It is located in a subtropical region, which made its soil fertile and suitable for agriculture. Despite it is famous for industrial activity, its economy depends mainly on tourism.
Batumi is also close to the borders with Turkey, in addition to that, it is the main crossing for trade between Georgia and Turkey. You can find the markets of this city full of Turkish goods. Noteworthy, Georgia is seeing an unprecedented turning point in the field of real estate construction and there are many opportunities for those wishing to invest or looking to own a property in that country.
Why you would look for a Property for sale in Batumi, Georgia?
Real estate investment is booming in Georgia and particularly in Batumi because there is the main port of Georgia on the banks of the Black Sea. It is a central point for all the movements of transport, freight, and trade in the region. In addition, the ships transport tourists from all the Black Sea ports in that city. Many tourists are visiting Batumi, especially in summer. As the beaches are crowded with tourists from different countries of the world, Batumi has recently seen a point of change in real estate construction, especially near the Black Sea shore, and the reason for this change is the Georgian, Russian and Turkish investment companies.
Batumi has a well-developed infrastructure, besides all facilities, like schools, kindergartens, supermarkets, restaurants, and entertainment areas are typically within walking distance. It stands to reason that the demand for residential real estate, commercial property, and the land is constantly going up. So, if you are looking for a property for sale in one of the foreign coastal cities, Batumi would be your best choice, whether to buy an apartment for personal use or to rent it out to tourists.
Advantages of buying real estate in Batumi
An abundant supply of real estate
Increasing demand by foreigners for real estate which led to construction boom volumes by 101% in 2019. You can easily find a property for sale in Batumi as a secondary real estate or even newly built properties at a reasonable and affordable price. Besides, there are many hotels, retail spaces, and other commercial properties for sale, too.
A passport is the only document that you need to buy a property in Georgia. You can grant power of an attorney to someone of your friends, or a real estate agent. Moreover, the country grants favorable loan programs and favorable taxation policy for real estate owners.
According to real estate experts of Georgia, all properties’ prices are going up year after year, so if you are looking for an extra source of income by renting your property, you can achieve an average of 7-13% in profits annually.
An opportunity to get a residence permit in Georgia
You can get a residence permit after investing an amount of no less than 300K USD in real estate or business in Georgia. In order to obtain a residence as an investor in that country, it is important to have proof of your investment for this amount attached to the remaining papers that prove your investment. In this case, you get a permanent residence card in Georgia and it is issued for a period of five years for the first time and renewed on its own as long as you still invest in Georgia.
Real Estate for sale in Batumi
Properties in Batumi are special that make them at the forefront of real estate that customers buy. It is located in a lively area that contains all the important services to the customer. You can obtain food commodities at a good price as well as transportation that leads to any place, whether it is taxis or trains or transportation cars. This is what the customer is looking for when searching for property for sale in Batumi, an apartment that suits customers in price and area. Therefore, the prices of real estate in Georgia Batumi are unparalleled, as large discounts and offers are made to customers. This attracts the customer to buy those properties.
The prices of apartments in Batumi 2019 do not differ greatly from the previous year, the installment system exists and there are apartments for sale in installments in Georgia, therefore the prices are commensurate with the customers and the best real estate service is provided to them, whether in the purchase of apartments or shops, etc. Besides Batumi has a distinctive atmosphere and all the facilities and services are available that make the customer happy and feel comfortable, all services are in customer’s hands and the apartments have distinct areas with excellent prices and discounts.
Buying a property in Batumi remotely
As per surveys, it is shown that most of those who are investing in real estate in Georgia are non-residents and live in foreign countries. That is why many are depending on buying or renting properties on the services of a property management company. It saves time and effort, convenient, and favorable type of investing.
That is how you can look at real pictures and video reviews for Property for sale in Batumi. You can choose the one with proper location and a spectacular view without ever leaving your hometown. The average cost of a newly built property for sale in Batumi per square meter is $400, and that price is for a property that in the vicinity of the sea. Definitely, this price would be much lower for secondary real estate. You can buy it on credit or by installments if you want. As a rule, these investments will pay off mostly in five or six years.