Investments in real estate of Tbilisi

Tbilisi attracts the attention of tourists with its rich history, incredibly beautiful architecture, and tasty food. Investors are also interested in this city because of the fast-growing price for real estate.

Why to invest in Tbilisi?

Investing funds in real estate of Tbilisi means the choice of economical capital of the country that only starts to open its potential to the world, is full of charm and breath breaking landscapes. Moreover, it shows very solid marks of economic growth (forecast +5% for 2020). All this makes a city attractive for foreign companies and investors from all over the world. Another reason why Tbilisi is the best city for investing – high demand for real estate. One third of all population of Georgia lives in Tbilisi, and this is about 1 300 000 people. Residential fund of Tbilisi in historic districts, which is a mixture of traditional wooden houses in the Italian style and architecture of the late 19th century, is rapidly updated and modernized through heritage conservation policies and tax incentives with parties to governments. It makes these areas attractive to investors in commercial real estate for restaurants, cafes, bars and shops. On the other hand, houses and hotels are actively built in the city, investment in which can generate rental income (about 10-15% per annum) or sale in 3-5 years after the acquisition (up to 40%). Purchasing real estate of Tbilisi is also beneficial due a wide range of advantages which an investor can get.

  • Getting permanent residency in Tbilisi

    A person can apply for permanent residency by purchasing real estate for $35 000 or more.

  • Quick payback

    Inexpensive residential real estate in Georgia is paid back within 3-5 years while the commercial within 2-3 years depending on remoteness from the city center.

  • Low prices

    The price of housing in a new building in Tbilisi is lower than many other European capitals and is about $650 per a square meter.

  • Good business climate

    It is very easy to start business in Tbilisi or conclude a treaty on real estate because of minimal formalities and absence of corruption.

  • Reliable and safe

    When purchasing real estate, an investor concludes a deal via Public Service Hall, and can be sure that the rights for the property are reliably protected.

  • Remote deal

    The legitimacy of Georgia allows to conclude a treaty for purchasing housing remotely via an agent or a developer without intermediates.

  • Low taxes

    Foreigners who are not registered as taxpayers in Georgia, must not pay tax from housing.

  • Excellent infrastructure

    Tbilisi has got everything that you need for comfortable living, tourism, and running business. Also there are all objects of social infrastructure including hospitals, kindergartens, schools, universities, etc.

  • 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.

  • 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.

  • Why to invest in REDCO?

    Why to invest in REDCO?

  • 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

Tbilisi is a real estate market with a high demand for short-term rent even during the year. The rent price is the highest in Georgia, and the prices for rent and selling are increasing, starting from 2017 for almost 25%. The cost of a successfully located flat in Tbilisi will only boost with years and will not lose its liquidity.

  • Choice of suitable object.
  • Checking real estate for legal purity.
  • Concluding a purchasing-selling deal with owners or a development company.
  • Paying housing cost via any Georgian bank in lari or currency transfer.
  • Acceptance of real estate by deed of transfer.

Advantages of investing in Tbilisi – developed infrastructure, high income from rent and steadily growing real estate market.

Pitfalls while investing in real estate of Tbilisi

Investing money in housing may have unobvious nuances which are able to become unpleasant surprise for investor:

  • Safe and secure

    The developer is overdue on previous projects or is a participant of litigation cases.

  • Remote transaction

    There are inaccuracies in the purchase and sale agreement that allow to dispute it validity in court.

  • Low taxes

    There are discrepancies between the declared and actual parameters of housing.

  • Excellent infrastructure

    There is not necessary infrastructure on the location of the property.

All these nuances should be checked before concluding a contract, especially in the case of cooperation with young development companies, which have not yet completed projects in their portfolio.

Development company offers to buy housing in Tbilisi from own catalog at the building owner’s price with the opportunity of concluding the contract remotely without intermediates. Learn more – get in touch with us via a phone or leave a request for a callback on the website and we will call you back.

FREQUENTLY ASKED QUESTIONS

  • How to earn money from real estate in Tbilisi

    It is possible to give real estate in rent for tourists or business, as well as sell in a few years after acquisition, earning from the price difference.

  • What is the tax for real estate in Georgia

    In Georgia, there is no tax for real estate property for foreigners who are not registered as taxpayers.

  • How to get permanent residency

    All ways of obtaining a residence permit are described in detail in the “Law on legal status of foreign citizens and stateless persons in Georgia”.

  • How can foreigner invest?

    It is better to conclude deals directly with the homeowner or developer company, avoiding the involvement of third parties.