Useful information about Batumi and Georgia
Rules for buying a property in Batumi and advantages
Currently, Georgia is famous for its minimal regulatory economic model. This is evident in the sale of movable property, which is actually carried out without the participation of the government.
Operations with real estate (land and / or residential or commercial buildings) are also quite simple to carry out, although other rules apply in the country. To begin with, any change of ownership must be registered with the National Agency for the State Register (NAPR) in order to take effect.
Registration of the first five rights mentioned above is mandatory in each case, while the remaining rights are mandatory if one of the parties is a legal entity and a transaction agreement is concluded for a period of more than one year.
The good news is that NAPR is easy to understand, and paperwork is simple.
With all its advantages, investing in real estate in a financially beneficial manner depends on your presence in Georgia.
You should be wary of buying and repairing old real estate. This does not mean that this cannot work, but in old buildings (including the tourist center of Old Tbilisi), plumbing and electrical work often do not work well, and Internet connections are not always at the highest level.
After all, Georgia is an emerging market with a business-friendly government that wants foreigners to move there, buy real estate and start a business. The real estate market is likely to continue to grow.