Useful information about Batumi and Georgia
Batumi - payback periods for real estate
Real estate in Batumi is bought, not only by Georgians, but also by foreign citizens, while receiving a residence permit. Investing in the property of this resort is profitable, because apartments are growing in price every year, and they quickly pay off. The average payback period is 5 6 years. How to calculate the payback period? It is worth considering the main factors to calculate the payback.
Price of an apartment in Batumi
There is always a demand for real estate in Batumi, because tourists come year-round. The rental price of an apartment or apartments depends on the distance from the sea, the view from the windows, and comfort. Even the most inexpensive small apartment costs about $ 20 a day or 600 a month. Demand for real estate economy class is always high, it is rarely idle. If we talk about luxury apartments, the rental price varies from 100 to 3000 dollars, but for such housing and demand is slightly lower. Even when renting an economy-class apartment, the investor receives almost $ 7,000 a year, however, you need to consider the costs of utility bills, management and more. The price of the cheapest modern apartments by the sea about 18 thousand dollars.
Utility price
The size of utilities depends on the season. In the summer it is about 30 $ 40 a month, and in the winter 70 80. Due to the fact that the climate here is subtropical, you do not need to spend a lot on heating.
Credit and installment plan
It is possible to purchase real estate by installments or on credit.
Property management
The property can be managed by a management company (check-in, check-out, cleaning, payment, customer search), for this they take about 10 - 30% of the profit. You can do this yourself. Even for the purchase of real estate it is not necessary to come to Georgia, everything can be done on the Internet.
Taxes
There is no real estate tax, and registration will cost about $ 100. The registration procedure can last from 20 minutes to 2 hours.
Based on all of the above, we can conclude Batumi real estate really pays off in about 5 years, and sometimes faster.