This article provides comprehensive information on how find the best apartments for sale Tbilisi. It was written from the viewpoint of an ex-pat.
Tbilisi, Georgia, has become a popular location for expatriates from across the globe. Georgia is a beautiful nation that offers something for everyone, including huge cities with contemporary conveniences, wine regions, skiing, hiking, and a rich cultural past dating back thousands of years.
Don’t forget Georgia’s incredible hospitality, a source of national pride. On your first visit to Georgia, the immigration official at the airport may present you with a bottle of wine. Remember that the person on the other end of the immigration booth is not a marketer but rather an immigration representative. According to most measures, the cost of living in Georgia is relatively inexpensive. Some characterize it affectionately as “first-world life at third-world pricing.” This phrase applies to almost all aspects of living in Georgia, including real estate in Tbilisi. It is no surprise that many foreigners like to purchase real estate in Tbilisi.
Are foreigners qualified to buy any apartments for sale Tbilisi?
Yes, foreign nationals may own apartments for sale Tbilisi with the same rights as Georgians. However, there is one noteworthy exception: only Georgian nationals are permitted to own agricultural property. All other property is open to all individuals.
Tbilisi, the capital of Georgia, is located in the Caucasus, in the foothills of the Trials Mountains, and on the historic Silk Road. It is the country’s biggest city and capital, and the Kura River separates it into two major areas, giving it both beauty and magnificence and a strategic function. It is the bridge that connects the East and West pipelines that deliver oil from the Caspian Sea.
Why buy an apartment in Tbilisi?
Tbilisi has a promising future in all fields, particularly the real estate field, while Georgia is one of the ten easiest countries in the world to purchase real estate, as there are no restrictions on buyers of any nationality looking for apartments in Tbilisi due to the flexibility in all investments, particularly foreign investments.
According to a 2019 estimate, the population of Tbilisi was approximately 1.077,000 people living in an area of approximately 400,000,000 square meters. The indigenous population adheres to the Orthodox Christian faith and accounts for approximately 89% of the total population, while the proportion of Muslims in the country is 4%.
Many people regard the climate in Tbilisi to be friendly and like, as it is mild and semi-humid. The yearly average temperature is around 12.7 degrees Fahrenheit, dropping to 0.9 degrees in January and 24.4 degrees in July. In addition, the high probability of snowfall practically every year makes this a distinctive tourist attraction.
Tbilisi is the most popular tourist destination in Georgia. Its unique geographical position links Georgia’s east to its west and south to its north. It is the country’s capital and primary airport (Tbilisi International Airport). You will never meet a visitor to Tbilisi who fell in love.
Read About: Residence permit in Georgia
What are house prices in Tbilisi, Georgia?
You can travel to there to find the best apartments for sale Tbilisi. However, you cannot visit Tbilisi to see available options. It is still possible to buy without a visit, as some developers will send you the contract via email. Some require the buyer to grant a power of attorney to a local attorney to handle the purchase.
If you have already decided and can make the purchase immediately, it is possible to finalize the real estate acquisition in two business days.
Knowing house prices in Tbilisi Georgia, once you have selected your preferred property, the purchase agreement will be finalized within an hour or two, and the only document required to create the contract is a copy of your passport. Some developers require a small, non-refundable reservation fee, typically around $1,000, before creating the contract, but the majority will waive this requirement.
When you sign the contract, you typically have up to two weeks to complete the payment, allowing you to send the funds straight to the developer’s bank account from your own country.
However, if you send money from outside the nation, the contract may be written in US dollars. If you are sending money to the developer “selling” from a Georgian account, the contract must be written in Georgian Lari to minimize currency rate risk.
Read About: Property for sale in Georgia
Advantages of the apartment and real estate investments in Tbilisi
When you buy apartment in Tbilisi, You will get the finest potential for international real estate investment when you investigate Tbilisi apartment prices, and this is due to the following: –
If you are interested in purchasing overseas property, you should be aware that apartment costs in Tbilisi are among the lowest globally, with fully-furnished flats starting at less than $ 30,000.
2. High occupancy levels makes investment in Georgia Tbilisi a good idea
The number of tourists visiting Tbilisi is increasing every year, and far more than the number of hotel rooms are being added to the market. As a result, occupancy rates in well-marketed real estate may exceed 80 percent, and room rates are relatively high, especially during the busiest summer months.
The number of tourists visiting the city has climbed by more than 30 percent, while the number of foreign visitors arriving at Tbilisi Airport has increased by more than 42 percent, with more growth expected.
3. High rental revenue
For the right property in the right location that is well promoted, you might see a 20 percent increase in overall rental revenue.
4. No limitations exist for international investors
Foreigners can’t purchase real estate in some nations, but in Georgia, it is permitted. In addition, foreigners may purchase property in Georgia on a freehold basis.
The property may be registered in your name within a few hours using a technique that is exceptionally quick and straightforward.
Read About: Acquisition of Georgian Citizenship by Investment