Answers to the main questions about real estate investments in Georgia from an expert

Hello, I am the manager of One Development and an expert in the field of real estate in Georgia. Over the years, I have managed to help dozens of clients buy liquid housing by the sea and change their lives.

My colleagues and I have collected the questions that we are most often asked by foreign investors interested in buying real estate in Batumi. In this article, I will answer them in detail.

It depends on the characteristics of the facility and your investment strategy. For example, studio apartments in Georgia and One bedroom apartments are more in demand for rental. Real estate on the first and second lines from the sea is more profitable than housing in other areas, especially during the season. For long-term rentals, it is important to have autonomous gas heating, proximity to schools, kindergartens and medical centers.

At One Development, we work on a dynamic price list, which takes into account demand, the current market situation and allows us to accurately calculate profitability. In our projects, the capitalization during construction ranges from 30% to 75%. And the rental yield reaches $36 281 per year.

It’s quite simple — you don’t have to have a Georgian bank account to pay for real estate, you can transfer money immediately to the developer’s current account. At One Development, we accept payments in several currencies: Georgian Lari, rubles, dollars, euros and cryptocurrency. In Russia, it is possible to conduct a transaction through the official representative office of the developer in the Russian Federation with payment in rubles to a current account in a Russian bank. We also have partners who work all over the world and can help with fast and confidential transfers.

Real estate investments in the capital of Adjara compare favorably with the purchase of housing in seaside towns in other popular countries in several ways:

For a remote purchase, it is enough to issue a power of attorney from a notary for your representative in Georgia — they can become a lawyer or a realtor. With this document, you can carry out all stages of the transaction remotely: from the conclusion of the sale and purchase agreement with the developer, to the registration of ownership rights and registration of the contract with utility providers.

The cost of utilities in Georgia is low - up to $2 per square meter on average on the market. The costs depend on your level of consumption and are calculated according to the current tariffs for individuals in Batumi. On average it costs from $50 to $100 per month for utilities.

The cost of maintenance and operation of the house differs depending on whether there is a management company and what its tariffs are.

You can rent an apartment yourself or through realtors. But it should be borne in mind that in Georgia, the work of a realtor is paid by the owner, not the tenant.

The most comfortable option for property owners, which ensures consistently high occupancy, is renting through a management company. In all residential complexes from One Development, owners receive passive rental income without diving into the intricacies of renting an apartment and do not search for tenants. The international management company River Rock helps with this, which takes over the entire cycle of renting out real estate.

One of the most common fears of investors is that the facility will not be completed. This risk exists only if you do not check the information about the developer.

You can check the reliability of the developer through successfully built projects, cooperation with banks and partnerships with the Government of the region.

In some projects there are additional guarantees: for example, control by the Municipality in renovation projects, as in our residential complex ONE.