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Georgia real estate deals at low prices
Batumiexpert.com is your plentiful source of daily updates from Batumi’s most reliable real estate developers, including Orbi, Gumbati, White Sails, Next Group, H Group, and more. We can help you find and buy Batumi real estate that works best for you:
- New-build apartments
- Pre-owned real estate
- Commercial properties for business activities
- Land
Batumiexpert.com is also your way to search the best Georgia real estate for sale or for rent in Kobuleti, Chakvi, Gonio, Kvariati, Khelvachauri, Makhinjauri, Bartskhana, Ureki, and Agara.
Is Batumi real estate a good investment?
Batumi is a seaside resort in Adjara, an autonomous region of Georgia. This city is brimming with tourists and digital nomads (IT specialists and freelancers) looking to spend a few months in the Black Sea coast resort. Batumi has a reputation that goes far beyond Georgia, which fuels the ever-growing demand for rental properties in the city and surrounding areas.
Over the last few years, tourist arrivals in Batumi grew by 7% annually. But the number of those looking to rent a property skyrocketed in early 2022, as many families moved to Batumi and rented long-term accommodations for several months or even a year. The rental market is usually red-hot amid the high tourist season — from May to October — when most homeowners rent out their properties to vacation-goers short-term on a daily basis.
Georgian citizens and foreigners have been investing heavily in newly built real estate in Batumi since 2018. This trend didn’t take a hit in 2022 and continues to grow. It’s little wonder, as buying a Batumi property this year means reaping even more benefits than what you could gain in the past. The transition of Batumi into a mecca for IT specialists from CIS countries and travelers from all over the world has significantly contributed to that.
Seaside houses and apartments are excellent investment opportunities for those who want to:
- Generate income by renting out their properties
- Keep their savings safe
- Make money reselling their properties in a few years
An amazing bonus is that you can use your seaside property as your vacation getaway every summer.
Why Batumi is popular among investors:
- Black Sea coast properties never fail to create a stable income source for those who own them. In 2020, Batumi was named among the best European cities to invest in, according to Forbes.
- A real estate purchase agreement is prepared within as soon as a day. You can even do it from another country remotely.
- A permanent residence permit for residing in the country is issued for investors who spend at least $100,000 on real estate in Georgia.
- Local real estate prices are pegged to USD to make sure exchange rate fluctuations won’t impact the cost of your property.
- All projects of real estate construction companies are strictly regulated by the authorities.
How to avoid mistakes when choosing real estate in Georgia for sale
You may think you can purchase a property in Batumi without a real estate agent. But it’s a common mistake that buyers make when getting started with Georgia’s housing market. The experience of BatumiExpert clearly shows that you’re still better off relying on experts to avoid money risks because:
- If you’ve never lived in Batumi before, you’ll find it hard to choose the right neighborhood. Some shortcomings may not be obvious, and you may only notice them in certain months or after living in the place for a long time.
- There’s a risk of real estate scams even in a friendly country like Georgia, especially when buying a property remotely. That’s why we conduct in-person inspections for all properties, scrutinize documents provided by the real estate developer/owner, and list pre-inspected deals. We’ve been working with trustworthy developers since 2018 and put the extra effort to ensure your real estate purchase is safe.
- All real estate developers want is to quickly sell as many properties as possible. They don’t care about your preferences. On top of that, their deals are limited in floor plans, making you settle for whatever is available. However, we partner with many developers and list way more options for you to choose from.
- Even though it’s pretty easy to prepare and handle any paperwork in Georgia, you won’t want to sign a real estate purchase agreement until a qualified specialist reads it. At BatumiExpert, we take a thorough look at all documents and can guide you through the necessary real estate contract changes that represent your interests best.
How much does it cost to buy a Batumi property?
The demand for seaside properties in Georgia is high enough for new buildings to appear at all times. Real estate developers always compete with each other, which keeps prices from soaring. To put it in context, we’ve compared the average cost of a square meter in new constructions by the sea in Batumi and popular European resort destinations as of 2022:
- Batumi, Georgia - $600/m²
- Alanya, Turkey - $1,000/m²
- Protaras, Cyprus - $1,800/m²
- Benidorm, Spain - $1,900/m²
- Tivat, Montenegro - $2,000/m²
- Ischia, Italy - $2,000/m²
Unlike European resort locations, you don’t have to shell out extra thousands to buy a property with sea views in Batumi. An unfinished studio flat under construction will cost you only $18,000-$20,000. The best thing is that Batumi apartments for sale are cheap because there’s intense competition between real estate developers, not because they compromise on the quality of materials and property designs.
These days, there’s still cheap real estate in Georgia. But most flats and apartments are quickly bought as soon as the construction begins as more and more investors and expats come to the country. So, if you’re planning to buy a cheap Batumi apartment for sale to live in or rent out, there’s no better time than now.
You can easily find prices for all seaside properties on our website. For more options, our listings go beyond just those and include commercial properties, houses, and land deals.
Payback period and rental income
*As of April 2022
The profitability of renting out a Batumi property is 10-12%. It’s high enough to protect your savings and grow them faster than keeping your money in the bank.
Simply imagine you’ve purchased a 30m² apartment for $600/m², with your investment totaling $18,000.
The average daily rent is $60 during the vacation season from early June to late October and $30 in other months. The occupancy rate is also subject to seasonality and is approximately 24 days per month in high season and 11 days per month in low season.
From October to May, many property owners rent out their apartments long-term rather than on a daily basis. That results in $300 per month as the average monthly rent, excluding utility bills to be paid by the tenant.
Tot it all up to see that you can make $5,760 and $2,640 in high season and low season, respectively. The annual rental income is $8,400.
Let’s get to the expenses column. Many property owners choose to hire a property management company for all things rentals and maintenance. This will cost you about $1,000 per year. You’ll also need to set aside $700 for utilities, the country’s annual average.
Deduct these expenses, and you’re left with $6,700 in net rental income per year. The payback period is 2 years and 7 months.
With this real-life scenario, it’s easy to see that investing in real estate is way more profitable and reliable than bank deposits.
Utilities and property maintenance
In Georgia, property maintenance costs are low. More specifically, you’ll need to pay around $57 in monthly utility bills for a 40m² property, while those who own properties in European resort cities are usually landed with €110-€120 bills every month.
Often, if you rent out your property long-term, it is the tenant who is responsible for monthly utility bills. On the other hand, utilities are included in the rent for daily rentals.
Some Batumi real estate developers act as property management companies and can maintain your property for an additional fee. Their services include:
- Finding tenants
- Property cleaning and ventilation
- Repairs
- Paying for utilities and more
Some property management companies make it more convenient for property owners to manage bookings, track expenses and rental income, and transfer profits to their bank accounts using an online service. This is a perfect option for those living in another country and property owners who don’t feel like tackling the renting routine in person.
How can foreigners buy real estate in Georgia?
You can always buy Batumi apartments for sale remotely. The BatumiExpert team is at your service for doing just that.
We can help you choose and buy real estate in Batumi and surrounding areas. Batumiexpert.com is regularly updated with new deals for apartments, houses, land, hotels, and office spaces. You can expect accurate and complete information about each property, coupled with our expert advice on preparing a real estate purchase agreement.
Choose locations using our interactive map, select by views, and check out real-life photos of each property. Before they are listed, we inspect all properties for sale, make sure their size and other details are accurate, and create comprehensive photo and video reviews. The entire purchasing process is greatly simplified, allowing you to become a Batumi property owner without leaving your place of residence.
Are you overwhelmed by all those real estate purchase procedures in a foreign country? We can handle them for you as our experts take care of the transaction process according to Georgian laws.
How much does one square meter cost in Batumi?
It depends on the location, floor, views, and construction stage at the time of purchase.- Black Frame seaside properties cost $550/m² and up at the initial construction stages.
- Ready-to-move-in properties with furniture and appliances cost $1,200/m² and up.
What does Black Frame mean?
When buying a property, there are several real estate types to choose from:- Black Frame properties don’t require any concrete and cement work and are sold with utilities connected to the front door.
- White Frame properties are connected to the electricity and sewage systems, as well as other utilities. They come with partition walls, thermal and sound insulation, plastering, ceiling finishes, windows, and front doors. *What exactly White Frame properties come with may vary from one real estate developer to another.
- Green Frame properties are fully finished but sold without furniture and appliances.
- Turnkey properties come with essential furniture and appliances and are 100% ready to be rented out.
How much is the rent in Batumi?
The most popular option during Batumi’s high season – from late May to early October – is to rent out seaside apartments as daily rentals. These can make you from $30 per night. The rent is also determined by the size of the property, appliances, and views. Utilities are paid by the property owner using the collected rent.
During Batumi’s low season, the rent starts from $300 per month. Utilities are paid by the tenant, irrespective of the rent.
The monthly rent for 3-bedroom and 4-bedroom houses is usually set to $1,000-$2,500. It’s determined by what the interior looks like, appliances, and location.
Benefits of investing in real estate in Georgia
- Real estate prices are affordable throughout Georgia, including resort cities like Batumi.
- By renting out a seaside apartment, you’re creating a source of permanent passive income.
- By spending at least $100,000 on a property, you can get a permanent residence permit in Georgia.
- Georgia is a comfort-inspired place to live and do business in. Its favorable business environment is always backed up by government regulations.
- Low utility costs.
- You can purchase and manage a property remotely.
- Great installment payment options.