Investments in real estate in Georgia
The Georgian real estate market remains the most dynamically developing in the post-Soviet space, which attracts investors who want to make a profitable investment.
Why invest in Georgia?
Buying real estate in Georgia is beneficial for Ukrainians due to a number of advantages that an investor can get.
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Obtaining a residence permit in Georgia
Buying real estate at a price of 35,000 US dollars entitles a foreign citizen to a residence permit in the country. In the near future, the Georgian parliament plans to revise the size of investments in order to be able to apply for a residence permit, so those wishing to invest money with the right of permanent residence in the country should hurry up.
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Fast payback
When purchasing an apartment or commercial real estate, an investor can calculate an income of 10-15% per annum from rent if the square meters are located in the center of a large city.
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Low prices
The cost of housing in Georgia is about US $ 300 per square meter in large cities such as Tbilisi or Batumi, and about US $ 100-150 per square meter in smaller towns. For example, the cost of a two-room apartment in a new building in Batumi near the sea can start from US $ 30,000.
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Good business climate
Georgia is in the top 50 countries with a low level of corruption perception, and the country's government regularly implements reforms aimed at liberalizing the economy and reducing bureaucratic procedures for business.
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Low taxes
Property tax in Georgia is not levied. Property tax is levied on individuals registered in the country as taxpayers. With a family income of up to $ 55,000 per year, property tax is between 0.05% and 0.02%. Above $ 55,000 - from 0.8% to 1%.
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Excellent infrastructure
In large cities of the country, comfortable living conditions have been created, transport and urban infrastructure is developed, combining medical, educational and social institutions with objects of tourist and cultural significance.
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Why invest in REDCO?
Why invest in REDCO?
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Low prices
The development company "Redko" was founded in 2012, and since that time, in order to develop modern residential and recreational concepts, the company's team has been following the dynamics and the latest trends in the industry.
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Obtaining a residence permit in Georgia
Buying real estate at a price of 35,000 US dollars entitles a foreign citizen to a residence permit in the country. In the near future, the Georgian parliament plans to revise the size of investments in order to be able to apply for a residence permit, so those wishing to invest money with the right of permanent residence in the country should hurry up.
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Fast payback
When purchasing an apartment or commercial real estate, an investor can calculate an income of 10-15% per annum from rent if the square meters are located in the center of a large city.
-
Low prices
The cost of housing in Georgia is about US $ 300 per square meter in large cities such as Tbilisi or Batumi, and about US $ 100-150 per square meter in smaller towns. For example, the cost of a two-room apartment in a new building in Batumi near the sea can start from US $ 30,000.
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Good business climate
Georgia is in the top 50 countries with a low level of corruption perception, and the country's government regularly implements reforms aimed at liberalizing the economy and reducing bureaucratic procedures for business.
HOW TO INVEST IN HOUSING?
Investing in Georgia practically does not differ from the usual home purchase and it can be divided into several stages:
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Choosing the right option. An apartment can be bought inexpensively both in the primary and in the secondary market by contacting a realtor or developer directly.
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Check for legal purity. This clause is more applicable to housing in the secondary market, and includes checking the grounds of ownership of real estate: the existence of a purchase and sale agreement, privatization, inheritance or donation.
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Conclusion of a contract. The purchase and sale agreement is concluded with the owner or a development company in the House of Justice of Georgia in the name of the buyer.
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Payment. This clause may precede the conclusion of the contract, depending on the conditions of the seller and involves payment by bank transfer or in cash through any Georgian bank.
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Reception by act. Registration of the purchase and sale agreement is not required, but for it to become executed, the property must be accepted by the buyer under a deed of transfer signed by both parties.
Many difficulties with investments in Georgia can be avoided by cooperating with a reliable agent or by making a purchase directly with a developer company.
REAL ESTATE INVESTMENT SEASONS
When investing in housing abroad, you should carefully check everything in order to avoid unpleasant surprises:
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Safe and secure
the developer is a participant in litigation;
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Remote transaction
errors in the sales contract, allowing to challenge its validity in the future;
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Low taxes
the difference in the declared and actual area of housing;
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Excellent infrastructure
the quality of the property does not correspond to the one declared by the developer.
Unforeseen circumstances often arise when investing in real estate from young development companies, whose ambitions do not always match the possibilities. Hence the problem of being late from the deadlines, poor quality of housing, problems with paperwork.
The development company Redco was founded in 2012 and has already managed to implement a number of large projects in Georgia, including an apart-hotel and a restaurant in Batumi, four apart-hotels in Gudauri, the Radisson Blu hotel in Gudauri and the Le Meridien hotel, for which it was awarded prestigious international awards.
Find out more about investing in real estate in Georgia without intermediaries - contact us by phone or leave a request for a call back on the website and our specialists will answer all your questions about real estate from the catalog.
FREQUENTLY ASKED QUESTIONS
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How to make money on real estate in Georgia
Real estate can be rented out and receive passive income: most of Redco's properties are located in tourist and resort areas, which makes them super profitable in terms of earning rent.
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What is the property tax in Georgia
There is no real estate tax in Georgia for foreigners. It is charged only from residents registered in the territory of the country as taxpayers.
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How to get a residence permit
In order to obtain a residence permit, a foreign citizen must purchase housing more than 35,000 US dollars or invest at least 300,000 lari in the country's economy.
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How can a foreigner invest?
The conditions for buying real estate in Georgia for foreigners are no different from the requirements for citizens of the country, with the exception of investing in agricultural land.