More and more foreigners are choosing Georgia: some move here to live, others to work. Both of them solve the issue with real estate. The first buy it for life, the second – to rent it out and receive income. The second option was mastered by investors. They appreciated the advantages of the country from an investment point of view.
In Georgia, unlike many countries, there are no taxes on the purchase and ownership of real estate. This greatly facilitates the purchase of an apartment or house. The purchase procedure itself has also been simplified. It takes place in one day and requires only a passport. Registration costs $20 – $50 (a meager amount compared to European countries). However, if the owner is going to rent out the property in order to generate income, he must pay a tax of 5% per annum (which is much less than the world average).
Why Tbilisi
Why do foreign entrepreneurs choose to invest in real estate in Tbilisi? Firstly, because having foreign real estate is always profitable. It serves as a kind of “spare airfield”, where at any time you can move in case of an unfavorable situation at home. Secondly, Tbilisi is the capital, and the capital is the cultural, economic and entertainment center of the country. Tourists come here all year round, so the income does not depend on the season.
It is better to buy a house in the central areas – Sololaki, Krtsanisi, Avlabari, Saburtalo, Mtatsminda. They are popular with tourists and convenient for living. An apartment in Tbilisi is bought even by those who plan to live here not all their lives, but for several years. So they save on rent, and besides, they receive additional income. If you sell a property bought 3-4 years ago, you can earn about 30%.swe3
New building or secondary?
It is better to buy real estate in new buildings. The construction boom that began a decade ago has yet to reach its peak. New residential complexes are being built in every district of Tbilisi. However, developers should be carefully studied. Experts advise to pay attention to their experience and completed projects. Fans of secondary will also find real estate to their liking. In the historical quarters of the city there are many old buildings. In this case, it is worth studying how strong the foundation and walls are. If you are lucky, you can get a house with history and an unusual layout.
Properly selected real estate will save savings from depreciation and bring income. Quick registration, simplified taxation, rich nature, mild climate and delicious food – Georgia will not leave anyone indifferent. Coming here once, I want to go back and go back.
Interesting Related Article: “Commercial Real Estate Investment: What to Know Before Making a Move“
