It is known that real estate is one of the best investments that give a large return in the long run. buying real estate in Tbilisi is one of the most important and secured types of investment, and through it, you can gain a very good profit back.
Therefore it is a chance for individuals who are able to do so, there are basic rules for real estate investment and the most important of them is the right place that gives more space for marketing. There are cities that have made their reputation with the presence of global markets open to real estate marketing. The capital of Georgia (Tbilisi) and Batumi are the tourist capitals.
The real estate market in Tbilisi has a strong short-term rental demand along with the highest rent in Georgia, a property located in Tbilisi will gain in value over the year and still can be sold easily at the end.
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Why you should buy a real estate in Tbilisi ?
Georgia has entered this field with a strong economy and lots of international money flow into the commercial and residential real estate markets over the past years.
Demand for property in Georgia is increasing from year to year and foreign investors are showing more interest in buying real estate in Georgia. According to the Index of Economic Freedom, Georgia ranks 21st among 185 countries in the world, surely it is really difficult to find more interesting and comfortable conditions for buying real estate in the resort area.
Noteworthy, about 5.5 million foreign visitors enter the country every year through hotels, most of which are located in Tbilisi and Batumi Resort, and it has 75 percent occupancy rates, which attracts investment for real estate in Tbilisi.
In addition to the marvelous nature of the Black Sea, beaches, mountains, and a subtropical climate, a resort area is a really heavenly place.
Buying a plot of land on the coast and the acquisition and construction of residential and commercial properties are the most preferred options from an investment point of view. By the end of the construction, residential and commercial spaces are already sold out.
Which neighborhood is the best to buy a property in Tbilisi?
The answer to this question depends on your needs, financial situation, and the aim of investment and the time frame, as you might prefer the areas with high rental profit, or you might prefer the ones with heritage aspects.
The location of the property, the type and the design of the buildings are the main factors that will determine the rental return of the place.
The best real estate in Tbilisi where is the best living environment, the attractive district that is well equipped in shops, and active.
- The historic district of Tbilisi, before the Soviet invasion in 1918, is one of the highest safe value in the market and still maintains a certain character in terms of buildings and designs.
- The central historic district of Tbilisi, which is not well exploited yet, but still more expensive than the historic district of Tbilisi.
Wherever the neighborhood is, a real estate in Tbilisi with a careful renovation and a tasteful decoration, will be your certain way to get a high rental return.
Hospitality in Georgia
Georgia has proved to be a highly desirable location for hospitality and real estate investments. Both hospitality and real estate sectors become one of the main drivers of Georgia’s economy because there is no restriction on foreigners’ ownership of properties in Georgia and no complication procedures as well.
Today Georgia is giving considerable potential to develop city sites, entertainment and gaming facilities, medical and wellness centers, and beach resorts. That’s why Georgia was ranked as the 12th fastest-growing tourism destinations in the world and the 4th in Europe by the United Nations World Tourism Organization in 2018.
Tbilisi Housing Fund consists of 290K apartments covering almost 21,640,000 square meters.
Last year, about 2,318,000 square meters were sold in Tbilisi, meaning that the average medium-sized flat consists of 67 square meters. According to the research, the price per square meter has increased by 6% compared to 2017, which assure that the real estate market is healthy, and the price of apartments could increase even more.
Apartments renting prices in Tbilisi
You will always find distinct and different real estate in Tbilisi in terms of areas or locations and their proximity or distance from the main cities. Also, you can’t miss the real development that Georgia is experiencing in regard of the infrastructure of roads and transportation networks as well as various services.
Owning a real estate in Georgia is easy and simple, Georgia has recently become a land of investment opportunities in various fields.
There are no administrative complications or governmental bureaucracy, and ownership procedures do not take more than one day to transfer ownership of the real estate, and because the real estate market in Georgia is considered to be emerging to some extent, and for a high return on investment.
For these reasons, Georgia attracts people who are interested in buying real estate in a city like Tbilisi, whether for residency in Georgia or for investment, especially with the increase of tourist numbers coming to Georgia.
In Georgia, the options vary for the investor, and in Tbilisi, real estate prices range in general, from $ 30,000 to $ 150,000 to own an apartment, and the price is determined based on the area and location.
Rental rates in Tbilisi, Batumi and Gori range from $ 250 to $ 300 for a two-room apartment located in the heart of the city. if you rent it for a period longer than a month, often at the height of the season, monthly rents rise to $ 500, but always remain a lot cheaper than hotels, especially for a larger number of individuals.