Useful information about Batumi and Georgia
Why have your friends already bought a house in Batumi
Georgia has a large and growing hospitality industry, in which about 5.5 million foreign visitors entered the country in 2014. Occupancy with hotel brands, most of which are located in Tbilisi and the resort city of Batumi, is 75 percent.
These factors make hotels attractive investment property in Georgia. However, residential real estate is also a sector worth paying attention to.
Although real estate value growth will ultimately slow down, a gradual increase in rents means that property (both residential and commercial) will continue to be a smart asset.
Investing in commercial real estate is another sector worth paying attention to. Retail spending in Batumi has grown rapidly over the past few years. This growth has occurred, although the country still has a relatively backward retail sector.
Now in Batumi there are two large complexes of shopping centers and several streets (Rustaveli, Chavchavadze and Pekini), which are upscale stores such as Massimo Dutti and Banana Republic.
However, most residents continue to shop in open bazaars and small markets. In fact, brands currently occupy only about a third of the retail space in Batumi. The main opportunities for growth will appear on the commercial real estate market, as retail trade will become more branded and consolidated.