If you're looking for an international real estate investment but have been discouraged by high prices elsewhere, Tbilisi, the capital city of Georgia, might be the perfect destination for you. The real estate market in Tbilisi offers some unique advantages that make it an attractive investment opportunity.
Affordability: Among capital cities in the developed world, Tbilisi stands out with its remarkably low real estate prices. Fully finished apartments are available for purchase at prices starting from under $45,000, making it highly accessible for potential investors.
Constantly Increasing Tourism Numbers: Tbilisi is experiencing a continuous surge in tourism, with the number of visitors steadily rising. In the first half of 2017 alone, the city witnessed a remarkable 30% increase in tourists, and Tbilisi Airport saw a growth of over 42% in international visitors. With new flight routes being added regularly, the influx of high-spending European tourists is expected to rise in the coming years.
High Occupancy Rates: Demand for accommodation is surpassing the supply of hotel rooms, leading to impressive occupancy rates, particularly during the bustling summer months. Well-marketed properties are experiencing occupancy rates exceeding 80%, allowing for competitive room rates and potentially higher rental income.
Lack of Competition: Tbilisi currently faces a scarcity of accommodation catering to the discerning and high-spending international market. This presents a significant opportunity for investors to fill this gap and meet the growing demand for upscale rental properties.
Excellent Rental Yields: The combination of high demand and limited supply creates an ideal environment for exceptional rental yields. Savvy investors may see gross rental yields of up to 15%, providing a lucrative income stream.
Capital Gains Potential: Investing in Tbilisi real estate now positions you as an early adopter, offering the potential for rapid capital gains. As the city's real estate market gains wider recognition, prices are likely to rise quickly, providing early investors with attractive returns on their investments.
No Barriers to Foreign Buyers: Unlike some countries, Georgia welcomes foreign buyers with open arms. Foreign investors can purchase property on a full freehold basis, and the property registration process is straightforward and efficient, taking only a matter of hours.
No Property Taxes: Owning property in Georgia comes with the added benefit of no property taxes, eliminating the burden of additional costs commonly associated with real estate ownership in other countries.
Liberal Visa Regime: Georgia boasts one of the world's most liberal visa policies, making it easy for travelers from various countries to enter the country hassle-free. Many visitors can stay in Georgia for up to a year, allowing ample time to explore investment opportunities.
Permanent Residence Possibility: Those looking for a permanent second home will find Tbilisi an attractive choice. Investing $100,000 or more in real estate in Georgia opens up the possibility of obtaining permanent residence, enjoying the same benefits as native Georgians.