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Elite property in Batumi: prices and conditions

Published: in European News, Finance Advice by .

Real estate in Georgia attracts investors from all over the world. This is easily explained – the country is rapidly developing, the economy is getting stronger, the market is growing. Foreign investors are showing significant activity. Loyal taxation, simple conditions of entry and stay and affordable prices lure to the country both those who want to relax and those who want to earn money.

Investors are particularly interested in luxury real estate in Georgia Batumi. Houses, apartments and apartments are selling out here like hot cakes. Why? Because this popular resort on the Black Sea coast, and all entrepreneurs know that resort real estate is always in price. You can live in it yourself or it can be rented (monthly or daily).

New construction in Georgia: how much does it cost

«How much is an apartment in Georgia»? Sea Inside managers often get this question. We answer. Prices depend on the location of the house, its condition, the view from the window, the presence/absence of the management company and other factors. Buy at the stage of the foundation is cheaper, ready – more expensive, in the state of “white frame” – a little more expensive, ready, with the repair and finishing – even more expensive. On average, 1 sq. m costs $500 – $2,000. For example, in Batumi, 32 m² apartments in a premium hotel and residential complex «in a white frame» can be bought for $30,400 ($950/m²), with turnkey finishes including furniture and appliances – for $46,400 (+ $500/m²).

Forecast

Georgia is recovering the fastest from the pandemic of 2020. According to «Eurocontrol», in 2021 it was the second country in the world with the fastest dynamics of the resumption of air travel. According to these parameters, it is ahead of Turkey, Spain and Greece. Experts predict further success in tourism. Their peak is expected by 2022-2023. And in 2023 in Batumi will be the ceremony of awarding the World Travel Awards – it is called «Oscar» in tourism. Recall that in 2019 Batumi became the winner of the World Travel Awards in the nomination «The fastest growing tourist destination in Europe». The growth of the economy will be reflected in the real estate market: the higher the occupancy of hotels and apartments, the more they will be built. On average, real estate in Georgia increases in price by 20% annually. Hurry up to buy real estate in Georgia before the price doubles. The best property price can be found on the website https://sea-inside.net/en

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Finance Advice 2021