«The era of budget housing will be over by 2025.» The expert on the situation in Batumi real estate market 2022
«The era of budget housing will be over by 2025.» The expert on the situation in Batumi real estate market 2022

«The era of budget housing will be over by 2025.» The expert on the situation in Batumi real estate market

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Batumi is a city of contrasts. Here, history is tightly intertwined with modernity, and the national coloring only emphasizes the identity of this place. The city is rapidly developing, growing, a lot of new residential complexes are being built — perhaps, that is why Batumi has become one of the main centers for investment in real estate in a few years. More information about the situation in the Batumi real estate market and about the unique Calligraphy Towers residential complex is in our today’s article.

«Georgia’s economy is not just recovering, it’s literally showing explosive growth»

The real estate market in Georgia has blossomed in recent years. The most sought-after regions of the country in this regard are Tbilisi and Batumi. For example, in May 2022, home sales grew by 70% in Batumi. The entire real estate market in the city grew by 66% and amounted to $59 million. 

Even more interest to the pearl of the Black Sea is fueled by the construction of a new residential and hotel complex, Calligraphy Towers. The complex is built by a large Georgian investment and building company, Grand Maison. Its mission is to create high-quality housing for comfortable living.  

About the complex and the situation on the real estate market in Georgia, Realting.com was told by the Head of Sales and Marketing at Calligraphy Towers, Nana Kikava:

— Despite the fact that the lockdown has made adjustments in all areas of our lives, Georgia’s economy is not just recovering, it is literally showing explosive growth. According to the latest data, Georgia’s economy grew by 11.6% in May alone. 

Batumi is being transformed along with the economy: the city is increasing its tourism potential and, according to experts, in the next five years it will be able to compete with global resorts. As a consequence, demand for real estate increases. Compared to the first quarter of 2021, this market has grown by 259% and is not going to stop. 

Real estate in Batumi can be divided into different categories based on location, proximity to the sea and developers. Therefore, this market has a wide price range: from about $30,000 to $300,000 per object. By the way, experts say that the era of low-cost housing is over by 2025 — in this regard, I think those who are still afraid of investment in real estate should consider.

People buy real estate in Batumi for various purposes: some buy it for themselves, some rent it out (this option is the most popular), and for some it is just a profitable investment. 

In Georgia, foreigners are exempt from property tax — this is an especially attractive factor for buyers. And yet, buying real estate in our country for $100,000 or more, you have the right to obtain a short-term residence permit for 1 year with the possibility of extension. On investment residence permit for up to 5 years (and subsequently, the permanent), you can claim, investing more than $300,000.

«For investors, we have the fairest offer in the marketplace»

— Calligraphy Towers in Batumi is a modern high-rise residential and hotel complex of premium class. It consists of 3 separate skyscrapers, which are connected to each other by a three-story D-block. Block D contains all the main infrastructure plus a casino. 

Block A is a 35-story hotel building. Its peculiarity is that here up to the 10th floor is located the hotel Hampton by Hilton of the world brand Hilton Worldwide. By the way, the visual and engineering design of our entire complex is aligned with Hilton standards. 

In Block A, our clients can buy a hotel room. This can be considered as a ready-made business: you buy a fully renovated room, and then rent it out with the help of our management company.

In Blocks B and C, you can find an apartment for living or for rent. Moreover, you can give the apartment in these blocks for management to another company, not necessarily to us. Block B is a 45-story residential building, Block C has only 40 floors.

The infrastructural part of the Calligraphy Towers complex includes:

  • Calligraphy Cinema;
  • Piano & Lounge Bar with live music;
  • co-working area;
  • a conference room for business;
  • 290-square-meter indoor pool;
  • spa;
  • fitness room;
  • recreation park;
  • parking spaces;
  • casino;
  • restaurants;
  • terraces for common use;
  • additional service in the form of golf cars that will take you from the complex to the sea.

And very importantly, we write it all down in the contract.

We started the construction of the project with building B in August 2020, and it will be completed in December 2023. The construction of building A commenced in August 2021 and is to be completed in December 2024. The erection of the C block will begin in October 2022 and will be completed in the fourth quarter of 2025. The full infrastructure is planned to be launched together with the completion of block A. By the end of 2023 the rough work of all three blocks will be completed, so the residents and guests of Towers A and B will not be disturbed by other ongoing works.

Investors choose us because of several factors. Firstly, the huge advantage of our project — convenient location and a guarantee that no one will build anything in front of our complex. Secondly, we have a reliable developer «Grand Maison» and a high level of construction quality. Also, as already mentioned, as part of our project Calligraphy Towers signed a contract with Hampton by Hilton, a global hotel chain. This ensures the prestige and level of the complex. The network management program, a wide joint infrastructure, allows us to have a year-round load of tourists in the hotel. 

At the same time, for investors, we have the most honest and profitable offer in the market. In Block A, we guarantee 8% in the first year, and then 3% of the minimum guaranteed revenue during the period of our cooperation. That is to say, the client in any case returns 35% of the investment for these 10 years. It is a guaranteed minimum, but the figure will certainly be higher — now the demand for rent has increased and prices have also soared. 

The payback table, construction schedule, management contract and permits are available to investors on our official website or at the sales office.

«It’s very easy to buy an apartment in the complex remotely»

— Our properties have living spaces in one- or two-bedroom layouts. We also have studios from 29 sq.m. The ceiling height is 2.8 meters. 

Apartments in the Calligraphy Tower complex can be purchased either in person or remotely. The process of remote purchase is very simple:

  • Foremost, the block is chosen, and then the apartment. 
  • Then a contract is drawn up. To execute it remotely, we need to get the client’s information: passport, active email address, phone number. A copy of the document is sent to the client, in return the client sends us the signed version. 
  • Then the client pays the invoice and as soon as the first installment is received, the apartment is considered sold. 

The registration of the title at the House of Justice takes place upon arrival. To do it remotely, you will need your authorized person in Batumi. The cost of the service is 165 GEL. 

The cost of apartments depends on the block. For example, you can pick up a studio in Block A from $44,000, as a gift is a system «Smart House». In Block B the prices for a studio with «white frame» finishing start from $26,000 and up. 

There are many options for buying an apartment: if the full payment cannot be made immediately, you can take advantage of interest-free installments from the developer until the construction is completed.

«The amount of investment in Batumi has increased 6-7 times compared to 2018»

— We decided to build the complex in Batumi for a number of reasons:

  • First, it is a city of contrasts. There are only 4-5 places in the world where premium hotels and residential complexes exist next to waterfalls and mountain slopes — and Batumi is one of those locations. 
  • Batumi is located on the east coast of the Black Sea, and it can rightly be called the main resort of Georgia and even the entire Caucasus. According to statistics, 9 million tourists from all over the world visit Batumi every year.
  • Over the past 15 years Batumi has changed a lot — it has become a worthy competitor to Bulgaria, Turkey, and Cyprus. The number of investments in the city has increased 6-7 times compared to 2018. This could not but affect the infrastructure of the city: a luxurious embankment was built here, franchises of global hotel chains such as Sheraton, Radisson, Hilton were opened. 
  • Also, a determining factor for the construction was a very good climate. The average summer temperature is +24 °C, during the high season beginning in July it reaches 35 degrees, and in winter it ranges from 8 to 18 °C. 

Calligraphy Towers is located at 18 Zhiuli Shartava Street. This is the most sought-after and rapidly developing space in Batumi. Just five minutes walk — and you’re already at the seashore, Ardagani Lake and Dancing Fountains. And right in front of the complex is the new UEFA stadium, which seats 20 thousand spectators. Also, nearby is the Alley of Heroes — the widest street in the city. Due to these factors, we can assure our customers that our complex will not be built up — in 50 or 100 years from their window will have exactly the same beautiful view. 

The complex is surrounded by all necessary infrastructure: parks, a business center, cafés and restaurants, a pharmacy, hypermarkets Carrefour, Agrohub, etc. These are also very attractive points for those who buy real estate here for themselves and for investment.

Properties count: 3
Number of publications: 2
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