Real estate in Georgia

Georgia is a democratic republican state, geographically located in Asia but culturally and historically an integral part of Europe.

The capital of Georgia is Tbilisi, with a population of over 1,500,000.

Other major cities in the country include Batumi, Kutaisi, and Rustavi.

Georgia's total population currently exceeds 3,700,000.

Tourism is considered a significant contributor to Georgia's GDP, accounting for approximately 27% of the country's total revenue.

The number of foreign tourists visiting the country annually exceeds 6,000,000.

The majority of these tourists come from four countries: Armenia, Azerbaijan, Turkey, and Russia.

Real Estate in Georgia

This significant tourist influx has led to high demand for real estate in various Georgian cities, attracting buyers with its relatively low prices and favorable locations. The construction boom in Georgia is still gaining momentum, so many buyers can choose to purchase waterfront properties near the sea. Dozens of landmark projects are still underway in Tbilisi and Batumi, and major international construction players (including EMAAR, one of the largest developers in the UAE) are planning to enter the Georgian residential and commercial real estate market. Low taxes, ease of doing business, and favorable immigration laws make Georgia attractive to many real estate buyers.

Real estate in Georgia is represented by all possible types of real estate. In the sphere of residential real estate, apartments in new, modern residential complexes are presented, as well as a huge number of secondary real estate options in relatively new houses, as well as in houses built during the Soviet period. Individual residential construction is developed in the country with a large number of houses, villas, mansions and townhouses with garden plots.

In recent years, the commercial real estate industry has developed significantly. Construction companies are actively building new facilities, in particular, retail and warehouse real estate, office buildings, industrial premises.

Buying real estate in Georgia

In addition to numerous tourists, tens of thousands of businessmen come to Georgia every year to resolve business issues, as well as a large number of students studying at local universities. Among the most famous and largest universities in the republic, one can highlight Tbilisi State University, the University of Georgia, Batumi State University named after Shota Rustaveli, and the Caucasus University. All this makes short-term and long-term real estate rental quite profitable.

Stages of purchasing real estate in Georgia:

1. Determining the desired characteristics of the property;
2. Selecting properties and organizing viewings;
3. Legal verification of documents and preparation of the contract;
4. Registration of ownership of the purchased property.

Georgian Real Estate Agencies

The Georgian real estate market is served by hundreds of real estate agencies, as well as individual real estate agents specializing in Georgian real estate. A professional, good real estate agent can not only select the best new or resale property in the client's budget, but also ensure that the property is purchased in compliance with all legal norms and rules. The professional activity of real estate agencies reduces the number of fraudulent activities, increases trust among real estate market participants, makes the Georgian real estate market more civilized, which affects its attractiveness among local and foreign real estate investors, and also contributes to the development of the country's construction sector.

Georgian Real Estate Prices

Cost of real estate in Georgia:

• More than $500 per square meter in Kutaisi and Rustavi;
• From $800 per square meter in Tbilisi;
• Over $1,200 per square meter in Batumi.

Georgian Real Estate Developers

Georgian developers are represented by several dozen local and international construction companies that are engaged in the construction of new, modern real estate objects in order to satisfy the growing demand for real estate from local residents and numerous expats.

The main developers of Georgia include the following companies: Mardi Holding, Next Group, Dreamland Oasis, Horizons Group, IKON, OKTO Group, GURU Holding, European Village, Orbi Group, Alliance Group, Tempo Holding, Alpha Investment, Tekto Group.

Tekto Group is a Georgian developer professionally engaged in the construction of residential and commercial real estate objects, as well as the production of high-quality building materials at its own production sites. Among the outstanding projects of Tekto Group, one can highlight the residential complexes Tekto Franco and Tekto Rakurs. The developer responsibly approaches the selection of land plots where construction work will be carried out. Many of the developer's projects are located in the Chakvi resort, next to the Batumi Botanical Garden, as well as near the Mtirala National Park.

GURU Holding is a developer from Batumi, operating since 2014. Among the iconic completed projects are Guru Residence, Guru Startup, Guru Status. The developer specializes in premium residential real estate.

European Village is a Georgian developer constructing residential real estate in Batumi and Gonio.

Orbi Group is a developer from Georgia, founded in 1998. It specializes in the construction of modern hotel-type residential complexes, as well as residential complexes with apartments. Currently, it has a staff of over 6,000 people, which makes it one of the largest developers in Europe.

Next Group is an international construction company constructing premium residential complexes. Among the most iconic international projects of Next Group are objects on the first coastline of Dubai and Palm Jumeirah.

Alliance Group is a Georgian construction company that entered the market in 2005. Currently, more than 25 real estate projects have been completed. The most famous are Alliance Palace, Alliance Privilege, Alliance Centropolice, Alliance Kobuleti.

Mardi Holding is a Georgian developer constructing hotel facilities and modern residential complexes in Batumi.

Tempo Holding is a Georgian construction company specializing in modern residential complexes with developed infrastructure. The most significant projects are Queen’s and Residence Serenade in Batumi.

Dreamland Oasis is a developer from Georgia, constructing a large residential project on the Black Sea coast a few kilometers from Batumi in the resort village of Chakvi. It is a village with developed, modern infrastructure.

Horizons Group is a well-known Georgian developer that entered the construction market in 2013.

IKON is a Georgian developer operating in the construction market since 2010. The real estate objects built by the IKON construction company have stylish architecture, as well as developed infrastructure.

OKTO Group is a construction company from Georgia, engaged in commercial real estate objects, as well as premium and business class residential real estate.

How to choose a real estate developer

Important characteristics of a reliable developer:

1. High position in independent ratings of Georgian developers and availability of customer reviews on the quality of construction, compliance with deadlines for the delivery of objects and the resolution of possible problems;
2. A large number of successful, completed projects in the portfolio;
3. The quality of the materials and construction technologies used;
4. Availability of the necessary infrastructure in the residential complex (green area, parking, playgrounds, swimming pools, etc.).

Reviews of Georgian developers and real estate agencies

Our website contains ratings and reviews of Georgian developers and Georgian real estate agencies left by real estate buyers. Studying the reviews will give you the opportunity to form your own opinion on the reliability and quality of work of developers and real estate agencies, as well as make an informed decision on the possibility of purchasing certain real estate from developers and working with real estate agencies.

Also, to make a choice when buying real estate in Georgia, you can familiarize yourself with the rating of developers in Georgia. And if you are interested in a specific location, then familiarize yourself with Georgian real estate agencies and make the right choice.