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Promotion! Free flight and accommodation when buying real estate for $100,000 and more! More details
Promotion! Free flight and accommodation when buying real estate for $100,000 and more! More details
Batumi will help you get a stable income
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Successful moment
Average real estate cost metrics are increasing
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Infrastructure
Is the best on the Black Sea coast
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Average price
$800 per square meter
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Investment income
12-15% per annum
Over the past few years there is a rapid increase in the number of real estate under construction in Batumi including modern projects, world-class hotels and residential complexes. But what attracts investors the most are apart-hotels, which allow them to rent out apartments, bringing them a stable income. This is a trend in the real estate market in Batumi in 2021. Currently, there are 52 active development projects in Batumi - both at the planning stage and at the construction stage. The city's largest residential projects include Belle Vue Batumi Residence, White Sails Batumi Alliance Palace, Metro City, Dar Tower, Porta Batumi, Orbi Beach Tower, House at Chavchavadze, Horizont Batumi, House at Pushkini Street, Selazir Palace.
According to experts, the average characteristics of real estate prices in Batumi will continue to grow. A plus for buyers from Russia is comfortable transport accessibility and a visa-free regime, as well as the ease of obtaining a Georgian residence permit. About 85% falls on economy-class dwellings, the price per m² of which is $500-1200. The price for luxury real estate is correspondingly higher - approximately $2200 per m².
There is a visa-free regime for Russians in Georgia, which allows them to stay in the country for 365 days. To obtain a residence permit, foreigners must reside in Georgia for 5 years more than 180 days a year, or invest in the economy or real estate of Georgia in the amount of $100000 or more. A resident of another country receives the same rights as citizens of Georgia (except for the possibility voting), including visa-free travel to the EU, and it will become possible to become a citizen of Georgia after 5 years. The term of the residence permit is not limited.
More information about investments you can read here: Investments in Batumi flats
Real estate in Batumi in 2021 seems to be a very interesting tool for investing free money due to the acceptable initial cost and attractive tax legislation in this country.
It will not be difficult to buy an apartment in a new house or an apart-hotel in Batumi. Investing in local real estate makes sense for the following reasons:
You can buy an apartment for permanent residence in Batumi, especially those who love peace and quiet. Batumi real estate purchasing is described step by step here.
The "Gulfstream" group of companies is launching a campaign in which we pay for your flight and accommodation for $2,000 if you've bought apartments in Batumi for $100,000 and more.
A studio apartment is a common object in the real estate market of Batumi. It is rented as standard hotel rooms and its cost is from $25000 with turnkey finishing in a building near the sea. Area is maximum 30 m². As for the elite apartments, the area will be larger (100 m² and more), there are panoramic windows, a spacious living room, terraces. The cost of such an apartment is on average $ 250000-280000. You can consider options for buying real estate in Batumi directly from the owner, or find exclusive properties from the largest developers.
However, you can buy real estate in Batumi by the sea with a huge potential for price growth almost instantly, having paid only a part of the cost. What does it mean? Construction companies are introducing a system of fractional ownership of real estate in Batumi. The client purchases a share of real estate with the expectation that he will visit it only at certain times of the year for a short period. The object will have another owner, who also pays a part and arrives at a convenient time for him. They are both the official owners, but the contract will indicate the length of stay in the apartment.
In Batumi, a long-term lease brings a small but measured income and on the contrary, a little more risk, but also more income comes from tourist rent. Frequent "rotation" of clients in the summer season leads to greater depreciation of real estate, but the profit from this investment can be 12-15 percent per annum. Almost all owners are now long-term rentals, with an average monthly rental income of $2200 for premium apartments and an average annual efficiency of 9 percent. We can say that profitable real estate in Batumi is an interesting investment option for foreign investors.
Foreigners should pay attention to the following points before buying an apartment in Batumi:
To find out if there is a seizure of the property, an extract from the public register is pre-ordered before buying real estate on the secondary market. It costs only 15 GEL and will be provided the next day, but for 50 GEL it can be received on the same day;
Estimate the location of the object - it often happens that another new building will close a good view in a year. Therefore, it is better to give preference to objects where it is obvious that nothing will be built nearby. We recommend considering options for real estate in Batumi with photos that are available in the ads of the owners;
Delivery of objects can be delayed, which is why apartments are bought either in an already finished building, or through cooperation with developers with a good reputation;
Real estate can be purchased in black or white frame condition. In the first case, you just get the ceiling and walls, in the second - the wiring of communications around the apartment, plastered walls, sockets, etc. You can also purchase fully finished, with all furniture, apartments;
In many complexes there are management companies that rent apartments to vacationers for a commission, make repairs, pay utilities, and transfer the rest of the profits to the owner of the apartment.
Apartments in new buildings and secondary housing can be viewed on these pages: Apartments in new buildings by the sea in Batumi, Prices for apartments in Batumi
Investors in Batumi most often focus on real estate which is in high demand during the season. You can find comfortable vacation rentals for $30 per night. One of the reasons for the large flow of tourists is the active construction of luxury complexes with all the necessary infrastructure a few steps away - shops, SPA-salons, restaurants, saunas, cafes, swimming pools, and most importantly, new buildings are located in close proximity to the Black Sea coast. First of all, you should remember that real estate in Batumi is affordable and at the same time high-quality housing by the sea.
Georgia: +9 (957) 067-77-913
Russia: +7 (499) 677-58-79
