Batumi is the second-largest city in Georgia, located on the coast of the Black Sea in the country’s southwest. It is a popular tourist destination for its beaches, casinos, and nightlife. In recent years, the city has also attracted attention as a real estate investment destination. Here are some things to consider if you are thinking about investing in real estate in Batumi:
- Tourism is a significant industry in Batumi, so investing in a vacation rental property may be a good option. The city is especially popular with tourists from Russia and other nearby countries.
- The real estate market in Batumi has been overgrowing in recent years. Prices for apartments and other properties have increased significantly, and the market is expected to grow in the coming years.
- Batumi has a relatively low cost of living compared to other regional cities. This can make it a good choice for those looking to invest in real estate to generate rental income.
- The city has various properties, including apartments, houses, and commercial properties. Consider your investment goals and budget when choosing a property.
- Doing thorough research and due diligence before investing in any real estate market is essential. This includes evaluating the local economy, the real estate market, and potential risks or challenges.
Experience the beauty of the Black Sea by investing in a vacation rental property in Batumi, Georgia. With its growing real estate market and popular tourist destination status, you can enjoy both personal and financial benefits. From beachfront apartments to villas, there’s a property to suit every taste and budget. Be sure to do your research and consider management options before taking the plunge.
Batumi can be a good investment opportunity for those interested in the real estate market. However, as with any investment, it is essential to consider all factors carefully and conduct thorough research before deciding.
The return on real estate investments made in Batumi is speedy. For example, the return in the real estate sector in Turkey is 20 years. 18 years in Europe. But these figures are between 6-8 years in Batumi, Georgia.
Valuable information for investing in Batumi
- Regional context It is developing quickly in Batumi. It appeals to both Europeans and Asians due to its location on the Black Sea coast, which was formerly part of the ancient Silk Road.
- It is a resort city, Batumi. This implies a significant influx of travelers looking for a destination for a summer vacation. Due to the lovely seaside in and around the city, Batumi is one of the most well-liked locations in the nation.
- The high growth rate for construction. Apartment building in Batumi is at an all-time high; before the pandemic, the Municipality of Batumi issued building licenses for an average of 1,200,000 square meters each year. For an overall comparison, Lithuania issued almost 4 times fewer during the same period nationwide.
- Real estate at a reasonable price. Tbilisi’s real estate costs are thought to be greater than those in Batumi. Residential real estate in Batumi costs, on average, $771/m2, while in Tbilisi, it costs, on average, slightly over $1,050/m2.
- Favorable tax rates for real estate. According to Georgia’s Tax Code, the highest annual property tax rate that can be paid on a residential property is 1% of its value. However, the local administration of each Municipality decides the exact tax amount. 2017 saw the establishment of a 0.2% personal property tax by Batumi’s representative body.
- Owning real estate in Georgia with an assessed market value of more than $100,000 or making investments totaling more than $300,000 in other kinds of business investments and real estate qualifies foreigners for a legal residency visa.
- Purchase online. Real estate acquisition can be performed remotely by non-Georgian nationals without traveling to the nation. Using a Power of Attorney, our attorneys and agents can represent you in all situations.
Correct investments make the investor smile. The most effective way here is to work with reliable people. More than 5000 real estate agents are actively working without permission in Batumi. These people who came to Batumi 1 year ago sell real estate on social media. Stay away from these unreliable people. It would help if you had reliable people from Batumi residing in Batumi.
Real estate agents working within Batumi Real Estate will help you to the end of your investments in Batumi. You will be able to get all the details of your investments.
You can get detailed information about your real estate investments in Batumi and direct your future by contacting us immediately.