Georgia has become one of the world's most popular destinations for investment, with more than 25 percent of its property purchased by foreigners in 2019, for a number of reasons. Here are some of them:
Buying real estate 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 real estate 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.
Another reason for foreigners to buying real estate 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 real estate 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 real estate 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 real estate 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 real estate in Georgia, especially in Europe, Central Asia, the Middle East and the CIS countries, is because it is located between Europe, Russia and Asia and Georgia is not far from the countries mentioned, so it's easier for them to travel.
- General conditions of the building
- Conditions inside the apartment
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 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.
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.
Yes, real estate in Georgia can be mortgaged for two years or more
No, it is not possible to obtain residency in Georgia with land rental
Yes, with a building permit, a villa can be built on non-agricultural land
In this case, the property is sold by court order, and the tenant’s money is returned