Georgia lies in the Caucasus region of Eastern Europe and has become a tourist, investor’, and student’ destination. If you are planning to live or to travel freely in this colorful country, you will need to know the prices you are going to face in Georgia. Here’s a comprehensive overview of the Cost in Georgia:

Cost of Living in Georgia

Sure, the money considered as a means of living is cheap compared to the money that is consumed in other countries concerning the prices set for commodities in Georgia. However, one’s expenditure depends on the city that one resides in and the kind of life that one lives. Here’s a snapshot of what to expect:

Housing in Georgia

In Georgia, the costs of renting an apartment are slightly higher in Tbilisi, which is the capital city. If you are single on business, touring, or studying, then it is economical to share accommodation facilities. In general, the rental prices in Georgia begin at 300 dollars per month.

As earlier mentioned, it is advisable to make arrangements for housing before you move through a relocation firm. For those interested in property investment in Georgia, you can contact York Towers for more information.

Currency Exchange

The official currency of Georgia is the Georgian lari or GEL for short, and it is subdivided into 100 tetri. At the time of this writing, the exchange rate is about 2.5 to 2.65 GEL per USD. For the latest exchange rates, you can click here.

Salaries in Georgia

The wages of employees in Georgia vary based on the profession of the employees and the place they work, experience, and field of work. According to the present scenario, it is evident that the salaries in Georgia are much lower than in most developed countries.

Information released by the Georgian National Statistics Office (Geostat) estimated the average monthly salary for Georgia for 2022 at 1463.8 GEL or five hundred and fifty-five US dollars. Men earned around 1767.9 GEL ($670), while women earned 1153.6 GEL ($437).

The highest levels of remuneration are noticed in Tbilisi—1394.4 GEL, Mtskheta-Mtianeti region—1044.5 GEL, and Kvemo Kartli—998.4 GEL. The rates have been set at $7 a month for private-sector employees and $132 for public-sector employees.

Education Costs in Georgia

The Bologna process that enhances educational opportunities in Europe has made studies in Georgia cheaper compared to regional countries. Tuition fees vary depending on the university and program:

Ilia State University

• Local Ranking: 1
• Global Ranking: 1001
• Medicine: $5900
• Engineering: $3700

Tbilisi Ivane Javakhishvili State University

• Local Ranking: 2
• Global Ranking: 1501
• Medicine: $8000
• Dentistry: $8000

The University of Georgia

• Local Ranking: 3
• Global Ranking: 4083
• Medicine: $6000
• Dentistry: $5500
• Engineering: $4000

Healthcare in Georgia

It is recommended to get health insurance for expatriates before arrival since the cost of medical care is relatively high. Georgia today has good and fully equipped healthcare that is relatively new, but it doesn’t provide free or even low-cost medical treatment for expatriates. Medical expenses must be covered with a comprehensive insurance policy.

Investment Opportunities in Georgia

There are various incentives for investment in Georgia, especially in the real estate sector, because of the friendly investment environment. For the last three years, the country has made considerable efforts in promoting the tourism sector or investing in the two major cities, Tbilisi and Batumi.

Advantages of Real Estate Investment in Georgia:

Economic Growth:

Georgia’s economy has recorded significant growth with an approximate increase of about 90% recently. Worth noting, in 2023 approximately 3 million foreign tourists traveled to Georgia.

Residency Benefits:

Investors can get a temporary residence permit if they invest in real estate of $100,000, with the possibility of a yearly extension for up to 3 years. Depending on the cost of the property purchased for investments of $300,000 and more, a long-term visa for residing in the country for an investor is issued for up to 5 years.

High Occupancy Rates:

High numbers of travelers mean that there are very high occupancy levels for well-marketed properties, particularly during the summer.

Tax Benefits:

Georgia has no property sales tax, no capital gains tax, and no inheritance tax. The only expense incurred is the registration fee for the property, which is between $20 and $80.

Property Prices in Georgia:

Outside Tbilisi: The cost per square meter varies in the range of $600 to $700.

Within Tbilisi: From $1000 to $2500 per square meter.

For an exquisite living environment, the company presents the “Tbilisi Terrace” project in the Spare Didube area which includes modern architecture and stunning views of the city. The company’s basic packages begin from $1500 per square meter.

Transportation in Georgia

For a country with a relatively well-developed transport infrastructure, Georgia proves to be fairly cheap. Inter-city traveling, for example, from Tbilisi to Batumi, costs around 50 GEL while using the metro within Tbilisi costs 1 GEL. Buses and taxis are also cheap, with taxi charges being a minimum of 3 to 5 GEL for short-distance journeys and up to 20 GEL for long-distance journeys.

Utilities and Services

• Gas: 45 Tetri per cubic kilometer
• Electricity: Ranging from 13 Tetri up to 101 kWh, and 21 Tetri for each kWh above 301
• Internet: Up to 10 Mbps internet connection can cost as low as 37 GEL and as much as 236 GEL.
• Water: It is 10 GEL, which includes the service of waste disposal.

This means that Costs in Georgia are cheap in terms of living, studying, or even for a business to set up in the country. For individuals who are planning on moving, studying, and/or investing in Georgia, the country boasts a friendly environment with fairly affordable costs.