Why has buying real estate in Georgia become popular among Russian speakers?

Georgia's popularity among real estate buyers

Georgia is becoming an increasingly popular destination for Russian-speaking real estate buyers, and this trend continues to grow year by year. In recent years, the country has confidently taken leading positions in the number of inquiries about property purchases. By the end of April 2021, Georgia entered the top five countries sought for investment for the first time, as confirmed by search engine results. Despite various geopolitical changes, those planning to relocate or invest outside their home country are increasingly focusing on Georgia.

Conditions for moving to Georgia

The process of moving to this country has become much more accessible due to the introduction of a visa-free regime for citizens of Ukraine, Russia, Belarus, and some other countries. Foreigners arriving in Georgia receive a stamp in their passport, allowing them to stay in the country for one year without the need for a visa. This significantly simplifies and speeds up the relocation process.

Buying real estate

As forreal estate purchasesHere, favorable conditions are also offered. When purchasing real estate worth over 100 thousand dollars, one can obtain a temporary residence permit, which can be extended for the entire period of property ownership. Moreover, if you live in this status in Georgia for...ten yearsThere is a possibility to obtain citizenship.

Procedure for acquiring real estate

The procedure for acquiring real estate in Georgia is considered one of the simplest in the world. Participants in transactions do not need to gather a large number of documents; they only need to come with an ID to the House of Justice and sign the contract. It is important to note that before purchasing, one must ensure that there are no legal restrictions on the property being acquired. If the transaction includes installments, mortgages, or pledges, the standard documents may not be sufficient, and they will need to be developed taking into account all the specifics. Nevertheless, even this process does not take much time.

Taxation in Georgia

When it comes to taxation, Georgia is quite democratic. The property tax rate ranges from 0.05% to 2.00% per year. The specific percentage is determined by various factors, including the location of the property: in Tbilisi, it will be higher than in other regions of the country, as well as the owner's income level. For those with low incomes, tax benefits are provided.

Real estate rentals

When planning to rent out all the purchased property, it is important to consider that the income tax amount will be only5%At the same time, it is possible to reduce the taxable base by the amount of incurred expenses. If the annual income does not exceed10 thousand dollarsYou don't have to pay taxes, which is an additional advantage.

The diversity of real estate in Georgia

Georgia offers a wide range of accommodation to suit a variety of preferences: from houses by the sea to country residences among vineyards and apartments in the center of cities. Despite the small size of the country, there is a huge variety of real estate options. This makes Georgia attractive not only for investors, but also for those who are looking for an ideal place to live or spend a vacation. High quality of life, harmonious combination of nature and urban infrastructure continue to attract more and more real estate buyers in this sunny country.

Affordable prices and comfort

What unites these two seemingly completely different aspects? First and foremost, it is the affordable prices compared to European ones and the desire to create comfort in housing. This coziness can be observed both in modern apartments and in charming old houses. Let's take a closer look at some attractive opportunities.

Affordable apartment in Batumi

A vacation on the coast at a reasonable cost is really possible. For example, in Batumi we found a lovely small studio of 30 square meters, which cost only14,500 eurosThis compact apartment is located in a new residential complex on the outskirts of Batumi. Although it's small, its price is worth highlighting... or rather, its amazing value!14,500 euros— that's less than a million Russian rubles. What can you buy for that amount in major cities in Russia? Maybe a piece of a kitchen? Here, we have a full apartment in a new building, located in a wonderful area.

Great location

Speaking of the location, it should be noted that this is Makhindzhauri — an area that has recently become part of Batumi and has already earned a reputation as a balneological resort. Here, you can enjoy magnificent mountain landscapes covered with forests, as well as characteristic old architecture. Our apartment is located on the seventh floor of a 20-story building, from where the balcony offers a mesmerizing panoramic view of the sea and mountains, and nearby flows the Korolisckali River.

District infrastructure

The infrastructure in this area is really good.

• There are cafes and shops located nearby.
• There are banks and playgrounds;
• There are kindergartens and schools that offer education in Georgian, English, and Russian languages.
• The equipped beach is only about 100 meters away!

Disadvantages of the apartment

Nevertheless, this apartment has its drawbacks. The main one is that it is located far from the city center, and moreover, the property is sold with a rough finish. This means that you will need to spend both time and money to complete the finishing work before you can move in. However, in the future, you will be able to enjoy your stay or rent the apartment out!

Stylish apartments in Batumi

Now let's talk about another attractive offer: in Batumi, you can purchase stylish apartments with an area of31.8 square metersfor37 thousand eurosThis amazing country, Georgia, always aims to impress with its offerings. In the very heart of this popular resort, a new five-star hotel has opened. A studio with a stunning sea view is available at a very reasonable price — less than37 thousand euros...which is quite reasonable compared to prices in Nur-Sultan.

The unique architecture of Batumi

But that's not all. Batumi is famous not only for its prices but also for its magnificent architecture. A new hotel, which is set to be completed in December 2022, promises to become a true gem of this beautiful coastal city. This27-story buildingThe upper floors will be equipped with open-air green spaces.

Unique hotel concept

The hotel features an original concept regarding the design of public areas. The interiors here will organically combine modern design solutions with elements of traditional Georgian hospitality. The developers assure that they have managed to create an "innovative style inspired by retro."

In this prestigious establishment, all the attributes of high-end hospitality will be reflected. Guests will be able to enjoy cafes and restaurants, participate in spa and fitness treatments, relax by the outdoor pool and children's playground, as well as take advantage of secure parking and a specialized business center! It seems that this place is destined to be popular among tourists.

Management Companypromises to provide a return in the range of 10 to 20% annually. Moreover,developerIt insists that at the final stage of construction, the project will increase in price by 20-30%, which opens up additional investment opportunities. Moreover, the developer offers an interest-free installment plan, making the offer even more attractive.

Investments in Gudauri

Gudauri, famous for its ski resort, is a great place to invest in real estate on the slopes of the mountains. Here apartments with an area of 32 square meters are available for only €39 thousand. The new residential complex in Gudauri, one of the most popular ski resorts in Georgia, is located just a two-minute walk from the ski elevator.

The building features a stylish and functional design. On one hand, residents will enjoy a full-fledged residence with a spacious room and a kitchen equipped with all the necessary appliances. On the other hand, they will have access to a complete range of hotel services:

• transfers
• spa treatments
• restaurants
• cleaning services

The reviews from those who have arrived at the complex are mostly positive, and this establishment, like the resort as a whole, is expected to have effective prospects.

Development of the Gudauri resort

Over the past decades, Gudauri has undergone significant changes, transforming from a small village into a modern tourism center. The resort has experienced particularly tangible growth in the last ten years: from 13 small hotels, the number of recreational facilities has increased to more than 50.

New cafes, restaurants, ski schools, spas, and other infrastructure facilities are actively opening in this area. The sports and music events held here constantly attract an audience. Although the ski season in Gudauri lasts from December to April, the accelerated development of tourist services allows it to be considered a year-round resort, which opens up excellent prospects for rental income.

Management Companypredicts a return of around 18% per year.

Moving to Tbilisi

It's interesting to consider the option of moving to Tbilisi, the capital of Georgia. In the very center of the city, a two-room apartment is available for $122,000. Why should one pay attention to such properties? The thing is, real estate buyers spending over $100,000 have the opportunity to receiveresidence permitin Georgia.

Living in such accommodation will be a real pleasure. Thus, investing in Georgian real estate offers many advantages for both short and long term.

Modern residential complexes in Tbilisi

In the capital of Georgia, Tbilisi, there are many modern residential complexes, most of which are concentrated in new districts where architects can fully express their creative freedom. However, one residential complex stands out from the rest due to its location — it is situated in the heart of Tbilisi, in the historic Vake district.

Just a couple of hundred meters away is Chavchavadze Avenue, which is one of the key thoroughfares of the city. The unique three towers with their original architecture are surrounded by a vast recreational area.8000 square meters. There will be equipped with children's and sports grounds, a swimming pool and extensive green spaces, creating a comfortable atmosphere for recreation.

Park and landscaping

An interesting aspect is the fact that a park with a total area will be established opposite this residential complex.two hectares. This will create a great environment for residents where they can enjoy the peace and harmony with nature, while remaining in the center of an active urban life with access to all important infrastructure facilities and attractions.

Modern technologies

It should also be noted that the project integrates modern technologies."smart home"...focusing on energy conservation and security optimization. The construction of the complex is expected to be completed in...September of this yearThe apartments will be handed over with complete finishing, including the installation of plumbing and internet connection, allowing the new residents to plan their move right away.

Country life in Georgia

As for country living, it is becoming increasingly popular among people. Georgia actively supports this trend by providing those interested with the opportunity to settle not only in classic village houses but also in modern cottages and villas.

For example, a newly built three-storey townhouse is located in a new residential complex in Batumi. The quiet rhythm of life away from the hustle and bustle of the city is ideal for people working remotely.

Amenities and infrastructure

• The townhouse includes three bedrooms.
• Two bathrooms
• Spacious terrace with a picturesque view of the mountains

This is a great place for a large family. During the day, adults can work, as all homes are equipped with high-speed internet, and evenings can be spent with friends. The complex offers many amenities: there is a swimming pool, fitness room and café, as well as dedicated yoga rooms and bike and car rental options.

Access to the beach and workspaces

The beach is just a short distance away.15 minutes on footHowever, a shuttle is also available to ensure comfortable transportation. Moreover, you can work not only from home but also in coworking spaces or startup offices, where you have the opportunity to meet like-minded individuals and start business collaborations.

Results

Thus, Georgian resorts are not only vacation areas, but also attractive places to live and work, making them ideal for many people.

Conclusion

In concluding the review of the growing popularity of the real estate market in Georgia among Russian-speaking buyers, I cannot help but note that this year the country has firmly established itself in the top 5 for the number of inquiries about purchasing real estate. Geopolitical changes have undoubtedly played a role, but it is the attractive conditions and unique opportunities that Georgia offers that make it particularly desirable for buyers.

Advantages of Georgia

• Visa-free regimeallowing to stay in the country for up to a year.
• Possibility of obtainingtemporary residence permitwhen purchasing real estate.
• The simplicity of processing transactions without unnecessary complications.bureaucratic red tape.
• Lowreal estate pricescompared to Russian megacities.
• Low tax rateson real estate and rental income.

I was surprised by the simplicity of the transaction processing technologies. The ability to register a purchase and sale without unnecessary bureaucratic red tape makes the process clear and accessible to anyone interested. Of course, it's important to keep an eye on the details of the transaction, such as taxes and the taxable base, but overall the system works efficiently.

Variety of offers

Real estate prices in Georgia remain surprisingly low, especially when compared to Russian megacities. I am always amazed at how many diverse options are available. These options range from exquisite houses by the sea to cozy apartments in the city center, and they impress with their variety and comfort.

The economic component should not be ignored. Low real estate tax rates create additional advantages for investors and those wishing to earn money from renting. Georgia is certainly becoming one of the most attractive places for real estate investment.

Despite some limitations that I mentioned, the appeal of Georgia as a country for living, vacationing, and investing will only continue to grow. I hope this overview helps you see Georgia from a new perspective and perhaps suggests where you should look for your new property.