Everything About Property in Georgia
Everything about Property in Georgia
Georgia has become one of the world's most popular destinations for property and investment, with more than 25 percent of its property purchased by foreigners last year (2019), for a number of reasons. Here are some of them:
Buying property in Georgia is popular with foreigners because you do not have to pay any taxes to maintain your property, and the only tax that you need to pay is selling tax when you earned profit that it is 5 percent from your profit and if you dont have any profit in selling time you dont need to pay anything.
Another reason for the popularity of buying property in Georgia by foreigners is the very reasonable price of real estate which is less than the average price in most countries . Of course, it should be noted that in a good area of the city, the price of apartments starts from an average of $ 1,000 per square meter, which increases according to the facilities and conditions of the building and the location.you can buy best full furnished apartment in a tower with garden area,swimming pool,gym,beautifull lobby and etc with 2000$ per square meter.
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Another reason for foreigners to buying property in Georgia is the high level of social security and tranquility in the country, making it the sixth safest tourist destination in the world. It may be hard to believe, but if you live in this country, you may not even hear about theft or news harassment even once a year.
Another reason for foreigners to buy property in Georgia and turn to investing in it is economic tranquility and a great platform for investment, as the country is growing at such an incredible rate that the World Bank Has also been named the third most suitable destination for investment in the world. It is also ranked third in the world for ease of starting a business, which reflects the country's favorable conditions for investment.
Another reason for foreigners to buy property in Georgia is the country's extreme climate. The country has a four-season climate and is rich in natural resources such as fertile soil and abundant water. We can never hide the fact that living in a pleasant climate is one of the most lovable human desires
Another reason for foreigners to buy property in Georgia is its good international relations with other countries, which has introduced the country to the world as a peaceful country with free trade and political relations, so that Fraser Institute has established Georgia It ranks 12th in the world in free trade
Another reason for foreigners buying property in Georgia is the good relationship between the people of these countries and foreigners. Georgia has a very hospitable and kind people, and this good behavior has led to an increase in immigration and travel to this country. You can easily feel this with a short trip to Georgia.
Another reason why foreigners buy property in Georgia, especially in Europe, Central Asia, the Middle East and the CIS countries, is because it is located between Europe, Russia and Central Asia and Georgia is not far from the countries mentioned so it's easier for them to travel.
Buying land in Georgia
Agricultural lands:
Agricultural lands, as their name shown are used for agriculture.
But sometimes you can see villa houses on this type of lands, and after examining the document, you realize that the land is agricultural and they got permition to build on it. This is only possible for Georgian citizens and it is better to mention that everyday it is going to be harder to get permition.
According to Georgian law from several years ago, foreigners will not be able to buy agricultural land or a house on agricultural land, so it is necessary to consider the possibility of buying and selling agricultural land for foreigners. Don't buy it
However, due to the fact that Georgia has excellent weather conditions and very fertile soil, it has attracted the attention of many agricultural industry enthusiasts and activists, and it can be said that it is possible to rent agricultural lands for a long time, such as There are 20-year-olds and above, which is very common among foreign investors interested in agricultural land.
Non-agricultural lands:
Non-agricultural lands that are known by their names are lands that have non-agricultural uses and also its sale and purchase is allowed for foreigners and they can do everythimg without any problem. An important point for those who want to use non-agricultural land is to check the construction permit and the level of occupation (k1) and its density (k2). The simplest and most comprehensible definition can be expressed as the level of occupation, that is, how much of the area of this land can be built, and the density, that is how many square meters building can be built on that level of occupation. For example, the land is 1000 meters and its occupancy level (k1) is 0.5, it can be built on 500 meters of this land and the rest is for the yard and its density (k2) is 1.5, which means that 1500 meters of building can be built on occupied area. It should be noted that due to the profits and space for investment in the construction industry in Georgia, the demand for non-agricultural lands is high, but note that the purchase of land has very small and important details that should be in the direction of experts. Use it properly. Therefore, the experts and lawyers of SisnoGroup are ready to advise and help you in this case.
Buying an apartment (residential, commercial, office) in Georgia
To buy an apartment in this country, two different categories must be considered:
- General conditions of the building
- Conditions inside the apartment
- 🎫 Black Frame: When you are buying a property in Georgia, you will hear this term a lot, because most of the building units in this Georgia are sold in this way. For more details, we will try to go with an example. In this case, you may see a completed building whose facade and corridors and common areas are completely ready, but when you open the unit door, you will see a concrete and black cube. The branches of electricity, gas and water are in the unit until the door and you have to build it according to your own taste. Such buildings are called Black Frame. It is necessary to know that Sisno Group Design and Reconstruction Department is ready to provide your property design and decoration services from zero to one hundred with the most appropriate price and in the shortest time, by having a professional and experienced team. So please don't worry about doing this at all because our experts will be by your side
- 🎫 White Frame: In this model, the facade of the building and its joints are finished, but when you open the unit door, you will see that in addition to interior walls, along with very simple plastering, gas piping and electricity It's partly done inside the unit, and you need to build the floor, ceiling, and walls, and you can do it with your taste. Such buildings are called white frames. It is necessary to know that Sisno Group Design and Reconstruction Department, with its professional and experienced team, is ready to provide your property design and decoration services from zero to one hundred with the most appropriate price and in the shortest time. So please don't worry about doing this at all because our experts will be by your side.
- 🎫 Finished: In this model, all the interior work of the unit is done and you only need to buy or transfer the interior furniture of the apartment so that you can enjoy your property.
- 🎫 Furnished: As its name suggests, in this model, the units are complete and decorated, as well as with all the equipment, and you only need to transfer your personal equipment.
Buy a villa in Georgia
As for the villa, the price of the villa is very reasonable in this country, and compared to other countries, it can even be said that it is unbelievable, and you can buy an unbelievable villa with the lowest price that you can imagine. The only important point we explained above is that in order to buy a villa, you must make sure that the land is non-agricultural, because villas built on agricultural land cannot be bought and sold for foreign nationals, but it is necessary to mention Having the right counselor and lawyer will never make this mistake for you so because of it SisnoGroup team is next to you.
Rent property in Georgia
Rent a Property in Georgia is very reasonable in terms of price, and if we want to tell you the average rental price of residential apartments in Tbilisi (the capital of Georgia), depending on the difference in quality and facilities for a one-bedroom apartment between 400 to 600 dollars and two bedrooms between 600 to 800 dollars. It is important to know that residential apartments in this country are generally rented with all the furniture.The custom of paying rent in this country is that the tenant must pay the first and last month's rent to the landlord at the time of concluding the contract, and then pay the rent at the beginning of each month. The lease term in Georgia is usually one year, but there is also the possibility of shorter or longer-term contracts.
Lease property in Georgia
In this country, leases are made in two ways:
- In the first case, the mortgagor dont have right to use the property: in this case, owner receives some amount of money and in return for receiving that amount, he pays a monthly interest to the person who paid him in exchange for mortgaging the property document. In general, this cannot be called a mortgage, and this is basically a kind of borrowing money along with paying interest by guaranteeing the property.
- The second case, the mortgagor have tight to use the property: in this case, the owner agrees to allow the mortgagor to use the property for a certain period of time by receiving an agreed amount and without paying monthly, and after that period the owner is obliged to return all the money. And the mortgagor is obliged to vacate the property. Regarding the customary price of the mortgage, we have to say that due to the fact that the mortgage is very low and the demand is relatively high, the rate is about one-third to one-half of the real value of the property.
Note: The mortgage agreement is prepared in the official offices and according to the contract, the mortgage amount is written to Lari and must be deposited in the owner's bank account. This makes it impossible for anyone to sell the mortgaged property without the consent of the mortgagor.
