The city of Tbilisi is the capital of Georgia country in the Caucasus, on the foothills of the Trials Mountains, and on the ancient Silk Road, which is the capital of the country and its largest city, and the Kura River divides it into two main parts, which gives it beauty and splendor, on the one hand, and a strategic role, on the other hand. It is the bridge that East and West are the first pipelines to transport Caspian Sea oil.
- 1 What are the prices for buying an apartment in Tbilisi?
- 2 Advantages of investing in apartments and real estate in Tbilisi
Why buy an apartment in Tbilisi?
Tbilisi has a promising future in all fields, especially the real estate field, whereas Georgia is one of the easiest ten countries in the world to buy real estate, as there are no restrictions on buyers of any nationality if you are looking for apartments in Tbilisi, because of the flexibility in all investments, especially foreign investments.
The population of Tbilisi, according to a statistic in 2019, reached about 1.077,000 people spread over an area of about four hundred million square meters, and the indigenous people owe Christianity to the Orthodox doctrine, and they constitute about 89% of the total population, while the proportion of Muslims in the country is estimated at 4%, There are some other minorities from Greece, Armenians, Azerbaijanis, and Russians, and they constitute 7% of the total.
The climate of the city of Tbilisi is considered a pleasant and likable climate for many people, it is moderate and semi-wet, and the average temperature there is about 12.7 annually, and it drops below this limit in the month of January to 0.9 ° and rises in the months of July to reach 24.4 °. The opportunity to fall snow is very likely almost every year, which makes it a unique tourist destination.
Tbilisi is at the top of the list of tourist destinations in Georgia due to many reasons, the most prominent of which is its distinctive geographical location, which connects the Georgian east to the west and the south to the north as well. In addition to that, it is the capital and the main airport in Georgia (Tbilisi International Airport). You will never find someone who visited Tbilisi and never fell in love with it.
What are the prices for buying an apartment in Tbilisi?
You can travel to Tbilisi, to have a closer look and to meet your purchase criteria, but if it is not possible to travel to Tbilisi to see the available options, it is still possible to buy without a visit, because some developers can send you the contract by email, while others will ask the buyer to give a power of attorney to a local lawyer to handle the purchase on your behalf.
If you already have made up your mind, and you can make the purchase immediately, it is possible to complete the purchase of real estate within two working days.
Once you choose your preferred property, the purchase agreement will be concluded within an hour or two, and the only document necessary to create the contract is a copy of your passport, as some developers need a small, non-refundable reservation fee, usually around $ 1,000 before the contract is created, but the majority will drop the reservation fee.
When you sign the contract, usually you have up to two weeks to pay the contract, so that you can make the payment by bank transfer directly to the developer’s account once you return to your home country.
But in case that you send the money from outside the country, the contract can be in US dollars, and If you are sending money to the developer “selling” from an account in Georgia, then the contract must be concluded in the Georgian Lari, to avoid any risk happening due to change of exchange rate.
Advantages of investing in apartments and real estate in Tbilisi
When considering Prices of apartments in Tbilisi, you will find the best opportunity for international real estate investment, and that’s because of the following: –
If you are looking to purchase international property anywhere, you should know that prices of apartments in Tbilisi are among the lowest of other countries over the world, as fully-fledged apartment prices in Tbilisi start from less than $ 30,000.
2. High occupancy rates
The number of tourists visiting Tbilisi is increasing every year, and much more than the number of hotel rooms being added to the market, so this excellent occupancy rates may exceed 80% in well-marketed real estate, and room rates are relatively high, especially in the busiest summer months, so there is a great opportunity to invest your money in real estate in Georgia, it is necessary to know its advantages and also know the prices of apartments in Tbilisi.
The number of tourists visiting the city increased by more than 30% and the number of international visitors arriving at Tbilisi Airport increased by more than 42%, and there is still a lot of growth in the coming numbers.
3. High rental profit
High demand and low supply is a great chance for excellent profits, for the right property in the right place that is marketed the right way, you can see the total rental income profit up to 20%.
4. There are no restrictions for foreign investors
Some countries make it difficult for foreigners to buy a real estate, but in Georgia You are free to buy. The foreigners can buy real estate in Georgia on a full freehold basis.
Property registration system is incredibly fast and direct, the property can be registered in your name within a few hours
5. The permanent residence
When you want to invest in Georgia, you will be like having a second permanent home, Tbilisi is an ideal option, as the cost of living there is the lowest in Europe, and the climate and the hospitality of its people are two other reasons behind thinking about investing in Georgia, anyone who invests 35,000 dollars or more in a real estate has the opportunity to obtain a permanent residence in Georgia, and to get all the advantages like the native Georgians.