Select one of the frequently asked questions below to learn more about buying, selling, and renting real estate. Also, begin to think about important things to consider when diving into your real estate search.
Can a foreigner buy real estate in Georgia?
Foreigner can buy any property except agricultural land.
What do I need for buying real estate?
You only need a valid passport.
What are the registration process of transferring ownership?
All process is open and transparent in Georgia. Registration takes place in Public Service Hall (Ministry of Justice of Georgia).
1.Real estate sale contract between Seller and Buyer
2.Buyer makes payment to the Seller’s bank account according to the contract
3.Real estate object is registered on Buyer’s name
What are the costs when buying propert?
Buying tax is %0. All cost including legal fee, passport and agreement translation is not more than 100 $.
How many days does it take legal process of buying?
It only takes 1 day.
Can a foreigner apply for mortgage or company internal installment?
Foreigners can not obtain mortgage but they can use installment according to concluded plan with seller.
How much is the rental tax?
There is no real estate tax in Georgia, but there is an income tax and it is only 1% of your total rental income.
Who can help me with renting the property?
GEflat team will definetely help you with finding monthly or daily tenants.
What is your property management fee for daily rent out service?
We take our 20% commission from the net profit after all expenses are paid. This means expenses impact our profit as much as yours, so we are extremely motivated to control expenses. This will result in better profits for both of us.
How can I get my rental income?
You can open a Georgian bank account and we can deposit your rental income directly to your account. Sending by PayPal or directly to your local bank account is also possible.
Why should I invest in Batumi?
1. Business-Friendly and Stable Environment Georgian legislation offers unconditional protection of investments. Assets of a foreign investor shall not be subject of expropriation.
2. Georgia signed an Association agreement with EU, which provides Georgian companies an access to European markets.
3. Flat/Low Taxes and Incentives According to the Constitution, increasing tax rates in Georgia is only possible through the Referendum.
4. Georgian economic legislation is strongly investor oriented. Several State laws of Georgia are specifically dedicated to facilitate and stimulate both local and foreign investments. Georgia is one of the leaders in the world in terms of ease of business start-up procedures.
5. Batumi is one of the fastest developing cities in Georgia. It is bridge between Europe and Asia. Batumi is situated in western and central parts of Trans-Caucasia between Black and Caspian Seas, on the crossroad of the ancient Silk Road that connected Asia and Europe.
How long is the payback period in Batumi?
Georgia has one of the best payback period in the world. It is 10 years with monthly and 6 years with daily rent out income.
Does property prices increase in Batumi?
Property prices increase 10%, land prices increase 15% every year.
What are the general costs in Georgia?
Electricity 1 kw 0,04 $
Water 1 m³ 0.20 $
Gas 1 m³ 0.22 $
Mobile top-up 3 $
Internet 1 MB 2 $
What is the difference with black and white carcass?
Преимущества: более низкая цена, планировка и отделка помещения будет сделана по Вашему вкусу.
Белый каркас подразумевает помещение с готовой внутренней отделкой (стяжка, штукатурка), металлопластмассовыми окнами, металлическими входными дверьми, внутренними перегородками по Вашему проекту, электропроводкой. Некоторые строительные компании также включают в «белый каркас» проведенные трубы центрального отопления, телефонную линию, кабельное телевидение и Internet.
How much does it take from Black Carcass to Renovated Frame?
It starts from 150 sqm/dollar without furniture.