Why buy real estate in Tbilisi?
The distinctive architecture, ample business opportunities and the huge tourism potential of the capital of Georgia make property for sale in Tbilisi attractive for foreigners who purchase it both for permanent residence and for making a profit.
4 reasons to buy real estate in Tbilisi
- High profitability: since Georgia as a whole and its capital are popular with tourists (about 6 million of them come a year), renting an apartment in Tbilisi for short-term rent brings in a benefit of at least 8-9% per annum.
- The possibility of obtaining a residence permit: to opt to one, it is enough to buy real estate for a mininum 100 thousand euros.
- Reasonable real estate prices: so far, buying property in the capital of Georgia costs much less than in any other city that is equally popular with tourists.
- A rich selection, especially expanded in recent years due to active construction.
What real estate you can buy in Tbilisi?
Residential real estate is dominated by apartments — from cozy small studios to spacious flats. Housing in the Old Town and Mtatsminda is in high demand; Vera and Vake are also prestigious areas. Houses with land plots are most often located in the districts of Saburtalo and Krtsanisi: among them there are both old family houses and newly built cottages.
How much does real estate in Tbilisi cost?
Georgia has a low investment threshold in real estate, and even in the capital you can find a studio or one-room apartment for 24-30 thousand euros. On average, a 1-room apartment with an area of 42-50 square meters costs 48-50 thousand euros; a 2-room apartment will cost you 10-15 thousand more. The cost of three-room apartments ranges from 90 to 160 thousand euros; apartments with a large area go at 200-250 thousand. The upper price level of apartments reaches 1.7 million: this is how much you have to pay for a penthouse with an area of 500 sq.m. The range of prices for houses is no less wide: from 56 thousand to 3.5 million euros.