Most foreigners prefer to buy newly built real estate in Georgia. Potential buyers have plenty of choices, since in recent years the number of residential complexes under construction and put into operation has increased dramatically.
What kind of new buildings offers Georgia?
The most common types of new real estate are residential complexes and apartment buildings constructed following modern standards. Such properties have underground parking or a parking lot, often a concierge service, a fitness room, and game rooms. In premium residential complexes, there also are a swimming pool and a large guarded area with green spaces, sports and playgrounds. The local real estate market rarely offers luxury villas and cottage communities.
Tbilisi takes the first place in terms of the number of constructed housing, while the popular resort city of Batumi is almost as good as the capital. There are many apartment buildings with sea views here. You can also buy an apartment in communities’ new residential complexes in Batumi: Kvariati, Gonio, and in the Adjara resort city of Chakvi. In general, there is an extremely wide range of available real estate:
- all kinds of studios and apartments;
- private villas;
- community cottages.
A wide choice is a significant but not the only benefit of new buildings in Georgia. Low prices also make them affordable for many customers. Other advantages include:
- High quality: the new buildings are made of eco-friendly and durable materials; have an air conditioning system, and the apartments’ layouts meet modern requirements.
- Located in uptown areas or the coastline.
- Profitability: apartments in new residential complexes are easy to rent out.
- Attractive investment options: according to REALTING, real estate prices in Georgia are growing. Any newly built property can be sold at a higher cost in a few years.
The cost of new buildings in Georgia from the developer depends on the location and type of property. The most expensive residential real estate is in the capital: the cheapest one-room apartment costs at least €41,000, and a two-room apartment is for €50-80 thousand. In Batumi, the spread of prices for new housing is quite large. A studio apartment with an area of 24.9 sq. m located in an apartment building may cost €14,000, while the same property with a slightly larger (32 sq. m.) space in a premium residential complex costs €44,000. A villa in a gated community in Gonio costs about €330,000. A fully furnished investment apartment with an area of 65.8 sq. m in a luxury complex by the sea in Chakvi has a price of €99,000.
Learn more about the prices of new housing in Georgia and find a suitable one on the Realting.com website with all possible options.