How much does it cost to live in Georgia: price overview in 2023

Georgia is an attractive place to live permanently and many people dream of moving here. Despite a slight increase in rental costs over the past year, expats' expenses in Georgia remain relatively low. Let's take a look at what it would take to live comfortably in Tbilisi and Batumi in 2023.

Currency

In Georgia, the official currency is the Georgian lari (GEL). As of May 2023, the exchange rate of one Georgian lari is approximately 0.3928 US dollars. Please note that prices in this article are quoted in dollars for your convenience.

Regarding inflation, according to Eurostandard data, annual inflation in Georgia in April 2023 was 2.3%, while according to national calculations it was 2.7%.

As far as currency exchange is concerned, in the center of Tbilisi you can usually find a normal exchange rate in the exchange offices that are located on every corner, and they often do not charge a commission. However, it is worth bearing in mind that the exchange rate can change during the day. Usually in the morning the rate can be less favorable, especially if not all exchange offices are already open. By the middle of the day the exchange rate becomes more favorable, and in the evening it may drop again.

Cost of a ticket to Georgia

The cost of tickets to Georgia can fluctuate and depends on a variety of factors including the route, time of year and airline. Direct flights from Russia to Georgia have been resumed as of May 2023, and ticket prices can range from $150 to $350 or more, depending on a number of conditions.

Buying a home in Georgia: A simple procedure for foreigners

Purchasing real estate in Georgia for foreigners is a relatively simple procedure that does not require complicated formalities. For this you will need to provide a foreign passport and have sufficient funds for payment. Possible interest-free installments on new buildings for a period of one to one and a half years, and the initial payment is usually 20-30% of the cost of housing.

The cost per square meter in new buildings in Tbilisi and Batumi depends on the completion date and location of the object. Usually the price varies from 800 to 1300 dollars per square meter. In the secondary market prices can vary from 600 to 1100 dollars per square meter. Interestingly, the purchase of real estate in Georgia can be done remotely with the help of a notary power of attorney for the person who will conduct the transaction on your behalf.

Change in real estate prices in Georgia in 2023

According to the investment bank TBC Capital, real estate prices in Tbilisi have increased by 25-34% in 2022, depending on the neighborhood. The average cost per square meter reached $1,072.

Rental rates also increased significantly, rising 103% year-over-year, and renters had to pay $11.2 for every square meter of rented housing.

How to get residence permit when buying real estate

In order to obtain a residence permit in Georgia in 2023, it is necessary to purchase real estate worth more than $100 thousand. After the purchase, a residence permit is granted for one year, which can then be extended, while retaining ownership of the real estate.

Advantages of residence permit in Georgia

Holders of a residence permit have the right to stay in the country without the need to leave annually, can obtain citizenship after ten years of residence, have simplified access to the banking system and can use electronic government services. There are also discounts on some public services and the possibility to receive notary services remotely.

Renting accommodation in Georgia

Per diem

The cost of renting accommodation depends on the city, neighborhood and season. In summer prices often increase, in spring and fall they are more acceptable, and in winter you can find particularly affordable options. However, even in high season, renting accommodation in Georgia is not expensive.

For example, in July, you can pay between $20 and $50 for a one-night stay in a private accommodation. In April, you can rent a two-bedroom apartment in the city center for a week for only $100. In Batumi, the price situation is similar, but since it is a resort town, the price per night in season can reach from $50 to $100.

Long-term lease

In Georgia, if you are looking for long term housing, prices also vary. Within $100 you can find rooms with insufficient repair and limited amenities, perhaps even without them. For $200 you can already rent a room in good condition, for example, in an old paneled building or a private house with full amenities.

On average, rental prices in the mass market segment range from $400-$700. For this price you can rent a one-bedroom apartment in a residential area or a private house. Many of these properties are offered with good repair, modern furniture and appliances.

Utility payments

According to the international company PB Services, in 2023 the cost of utilities in Georgia for an 85 square meter apartment, including payment for electricity, water supply, heating and garbage disposal, is approximately $75.

It is important to note that there is no centralized heating system in Georgia, so each family chooses their own way of heating, be it using electricity or gas. Most often gas heating is used, and therefore one of the most significant payments is the gas bill. It is also worth noting that there is no centralized hot water supply in Georgia, so most houses have boilers for heating water.

Nutrition

Supermarkets and markets

Food prices in chain supermarkets in Georgia usually do not vary much. Among the most popular stores are Spar, Goodwill, Carrefour, Smart, Nikora, “Ioli”, “Ibisi”, “Foodmart”, “Populi”. In large cities there is also a chain of stores Europroduct, which specializes in products from Europe. There are also stores specializing in Belarusian products, offering dairy products, jams, meat products and alcohol.

In these supermarkets you will find a lot of imported goods from Russia, Ukraine and Belarus, such as porridge, milk, cheese, sour cream, bread, spices, butter and chocolate. Fruits and vegetables, especially in winter and spring, can be expensive, with prices comparable to those in Russia and Belarus, but they are usually one and a half to two times cheaper at the market, and there is also the opportunity to bargain. Don't forget to try local cheeses, churchkhela (a Georgian specialty), wine and a variety of pastries.

Approximate supermarket food prices (national average, according to numbeo.com):

• Regular milk (1 liter) - GEL 5.20, or $2.1

• A loaf of fresh white bread (500 g) - 1.85 GEL, or $0.74

• White rice (1 kg) - 5.85 lari, or $2.37

• Regular eggs (12 pieces) - 6.51 lari, or $16

• Local cheese (1 kg) - 23.64 lari, or $9.56

• Chicken fillet (1 kg) - 17.38 GEL, or $42.93

• Beef (1 kg) - 26.01 lari, or $10

• Apples (1 kg) - 3.57 lari, or $1.44

• Bananas (1 kg) - 4.69 GEL, or $1.9

• Oranges (1 kg) - 4.28 GEL, or $1.73

• Tomatoes (1 kg) - 5.05 GEL, or $2.04

• Potatoes (1 kg) - GEL 2.25, or $0.9

• Onions (1 kg) - GEL 2.33, or $0.9

• Lettuce (1 head) - 3.42 lari, or $1.38

• Water (1.5-liter bottle) - 1.69 GEL, or $0.7

• Bottle of wine (medium range) - 15 GEL, or $6

• Domestic beer (0.5 liter bottle) - 3.40 lari, or $1.37

• Imported beer (0.33 liter bottle) - 5.25 lari, or $2.12

• Marlboro cigarettes - 8 GEL, or $3.23

It is also worth noting that supermarkets in Georgia often organize wine tastings. For example, the Goodwill chain of stores regularly organizes tastings where you can try different types of wine. Supermarkets also sell pre-made salads, meats, and other prepared foods that are offered at budget-friendly prices. For example, 100 grams

Wine and meat

In Georgia, it is more cost-effective to buy wine on tap at markets or small shops, the location of which can be obtained from locals. Such wines are usually much cheaper, about $2-4 per liter, and often taste better than bottled wines.

The situation is similar with meat. You can find meat in supermarkets like Goodwill, Smart or Populi. However, smaller supermarkets like Spar, Carrefour or Nikora often do not have fresh meat available. Instead, it's better to head to a local market where meat will be cheaper and fresher. For example, beef can be bought for $5-6 per kilogram and chicken for $2-2.5. In Tbilisi, a good choice would be the Deserter Market, located almost in the very center of the city. Another option is the Samgori (Navtlugi) food market, which is located near the train station. Here, the assortment is almost the same as at the Deserter's Market, but the prices are noticeably lower.

Churchkhela, a traditional Georgian delicacy, should also be purchased from trusted places, as it can be counterfeit. Original churchkhela is made from natural grape juice and nuts, and is deliciously incomparable to fakes. The price of churchkhela depends on the number of nuts and length, but on average it ranges from $1 to $1.5. The best churchkhela is said to be made in the Kakheti region, and its price can be higher, around $1.6 to $2. But in big cities in Georgia, such as Tbilisi, you can also find this local sweet. For example, in Tbilisi you can find churchkhela in Badagi store, in a special department on the lower floor of Tbilisi Galleria, and in Nikora supermarket chain, which are characterized by red-pink decoration and spelling of the name in Georgian.

Baking

Bakery products in Georgia are an integral part of the local cuisine and should be tried. You will find a variety of fresh bread in every supermarket, and you will often find bakeries and stalls selling khachapuri and various types of pastries on the streets of cities. It is simply impossible to pass by these flavorful places, especially in the morning, when locals buy freshly baked Georgian bread “shoti” for breakfast.

Prices for bakery products are quite reasonable.