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Why is it Profitable to Buy a Flat in Batumi?

Why is it Profitable to Buy a Flat in Batumi?

Batumi is one of the few cities in the world where you can buy flat with very low prices. Prices for apartments in new buildings start from $ 15,000. Including the cost of repairs and furniture, payback period is only 10 years with monthly and 7 years with daily rent. 

Most construction companies offer the possibility of obtaining an internal interest-free installment plan for up to 36 months. In many countries, when buying real estate, the tax is from 1% to 12% of the selling price of the apartment. In Georgia, however, the property tax rate is 0%.

Another important factor is that construction projects are financed by the construction company’s own capital, and not by sales income of apartments before or during construction. Therefore, you can be sure that the house will be completed.

For real estate buyers in Georgia, our commission is 0%. Our commission is paid only by seller.

Georgia ranks 13th among 180 countries in terms of the economic freedom index according to the rating of the Heritage Foundation in 2017 (http://www.heritage.org/index/pdf/2017/book/index_2017.pdf). Therefore, it is not surprising that this country attracts the largest foreign investors. The most luxurious hotel chains in the world operate in Batumi.

The fact that foreigners and citizens of Georgia do not have any difference in rights and obligations when buying real estate and creating a business, gives confidence to foreign investors. Bureaucracy has almost no place in Georgia, all official procedures are carried out in the same building, and in a short time. This is another factor, undoubtedly attracting investors.

According to many research, Georgia is among the ten most secure countries in the world. Index of crime says that Georgia is on the seventh place among 125 countries with the lowest crime rate in the world. In a search conducted by Numbeo, Georgia is the third most secure country in the world among 118 countries (https://www.georgianjournal.ge/society/32791-georgia-is-3rd-among-118-safest-countries-of-the- world.html).

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