Real Estate Investment In Batumi: The Ultimate guideline

Real estate development in Batumi is increasing at a rapid pace – in scope, in value, in fame. More and more people are finding that it’s is a great place to live and work. And after living and working comes a more long-term goal – investing.

45.6 მ² ბინა

46.8 m² Apartment

Area

40.7 m²

Balcony

6.1 m²

Sea View

Mountain

Living Room

23.6 m²

Bath

3.8 m²

Bedroom

11.8 m²

32 მ² ბინა

32 m² Apartment

Area

27 m²

Balcony

5 m²

Sea View

No

Living Room

22.1 m²

Bath

3.8 m²

45.6 მ² ბინა

45.6 m² Apartment

Area

39.6 m²

Balcony

6 m²

Sea View

No

Living Room

22.6 m²

Bath

3.8 m²

Bedroom

11.8 m²

80.7 მ² ბინა

80.1 m² Apartment

Area

63.2 m²

Balcony

16.9 m²

Sea View

Yes

Living Room

18.2 m²

Kitchen

10.4 m²

Bath

3.8 m²

Bedroom

12.8 m²

Bedroom 2

14.5 m²

86.9 მ² ბინა

86.9 m² Apartment

Area

71.8 m²

Balcony

15.1 m²

Sea View

Yes

Living Room

22.9 m²

Kitchen

14.5 m²

Bath

4.6 m²

Bedroom

13.9 m²

Bedroom 2

12.5 m²

70.4 მ² ბინა

70.4 m² Apartment

Area

59.5 m²

Balcony

10.9 m²

Sea View

Yes

Living Room

22.9 m²

Bath

8 m²

Bedroom

12 m²

Bedroom 2

12.6 m²

It’s one thing to simply visit the city, and even to put down roots for a while. It’s another to buy immovable property in the city, especially for long-term goals – that means committing a lot of money and a lot of time.

Still, one looks at the range of development projects – mid-market to luxury – pop up almost every day, sees apartments in Batumi appreciate in value, and has to admit: Batumi (and Georgia) has multiple indicators of being a prime place for investing in real estate.

Is Batumi Good for Real Estate Investment?

Giving an unequivocal answer is hard. It’s a complex question and includes a multitude of factors, from financial risks to investment options and opportunities that come one’s way. 

And yet, we’d say that yes, it is. There are risks, but most investments are risky. Buying a commercial or residential space in Batumi comes with a list of perks, the same as the rest of Georgia.

Why is Buying Property in Georgia a Good Investment?

– Tax incentives: Georgia has absurdly favorable property tax rates for both residential and commercial property owners. The maximum payable annual rate in Georgia is 1% of the property value, and in most cases, the rate is closer to 0%.  

– Favorable prices vs. prospective growth: Georgia’s real estate market is rapidly developing and the prices reflect it. The prices here are still among the most affordable in Europe (especially if you’re looking at properties outside Tbilisi), but rapidly growing from year to year. If in 2018 the average price for residential property was $727 per square meter, in 2023 it was $998 (Colliers Georgia). Bar some catastrophic event, you can expect that your assets will only appreciate in value as time passes.

– Gateway to legal residency: Buying real estate here is a comparatively easy way to obtain a residence permit in Georgia. Owning a property with a proven value of $100,000+ will get you a Short-Term Residence Permit. It needs to be renewed annually but will be as long as the property stays in your legal possession. Owning a property with a proven value of $300,000+ will get you an Investment Residence Permit which can lead to a Permanent Residence Permit if that property stays in your possession for over 5 years.

Why Choose Real Estate Investment in Batumi?

– Relatively low cost: While property prices here are steadily increasing, they’re doing so at a slower rate than Tbilisi. Additionally, several areas in the city are only now entering large-scale development. Projects in relatively underdeveloped areas are likely to cost lower and see larger ROI, once the development brings in more people and business.

– High construction rate: Land and property development here is speedy. More prestige condominiums are popping up every day, and more still are entering development.

– Geographic variety: Whether one is looking to invest in a busy city center, a quiet area surrounded by nature, or a residential villa away from tourist traffic, they’re likely to find something that fits. These days it’s relatively easy to find a residential complex in Batumi tailored to discerning taste. And if something hasn’t been built yet, it’s likely to be built soon, at the rate the construction is going. 

Where to Invest in Batumi?

So you decided that you’re in. You’ve checked out what the market has to offer, asked around for the best real estate investment companies in Batumi, and looked for trustworthy construction companies. Maybe that’s why you’re here: we are, quite proudly, considered one of the best construction companies in Georgia

But before you start exploring investment options in Batumi, you need to know a thing or two about where they’re located. The city may seem small but there’s quite a variety of areas, each with distinct upsides and downsides. Even if the project catches your eye, you need to know its location before considering buying.  

“1st Line” – Batumi Seaside

The most prestigious place in the entire city. As with most seaside places, the first line of construction by the sea is regarded as the most prime of prime residential (and commercial!) piece of property in Batumi.
It’s the closest residential location to Boulevard – a 7 km (4.35 miles) long seaside park that includes various gardens, squares, fountains, recreational facilities, etc. Batumi Boulevard is considered the heart of the city and the real estate projects near it are, accordingly, some of the most high-profile, prestigious, and coveted.

They’re also the most expensive. Owning property in the “1st Line” is considered a luxury and prices here often equal or top those of even Tbilisi center.

The Old Town

The Old Town is the part of the city surrounding Europe Square. It’s the historic center of the city and one of the biggest tourist attractions known for its beautiful architecture. 

Don’t expect to find many new construction projects (or other developments, for that matter) in this area, and certainly not the slick modern luxurious highrises Batumi has become known for. Most buildings here are old low-rises and the newer ones are more contained in scope.

It has, however, quite a high price variety. The age of most buildings brings the price down, but proximity to the tourist center raises it. It balances out differently in each case.

Do keep in mind though, that buyers prefer buying apartments in modern constructions. Older apartments tend to depreciate as a rule, even in the historic neighborhood.

Inner Center (“The New Town”)

The district close to the newer part of the Boulevard. It’s currently one of the hottest and most actively developed locations in Batumi. 

Used to be more of a residential location, but over the last decade has transformed into a tourist mainstay. A hotspot for new businesses, this is where you’ll find many of the newly opened top hotels, casinos, restaurants, etc.

The price variety is just as high, if not higher, as in the Old Town.

Suburbs

Suburbs are easily the most overlooked part of Batumi. It’s where the majority of locals live, usually in small private homes. Development is comparatively slow, and you aren’t likely to find a luxurious condominium here.

However, that doesn’t mean there are no plans to invest and develop the area. Some have already started, though construction plans veer toward private villas and small exclusive residences. 

Outskirts

These are comparatively sparsely populated areas on further ends of the cityi. Most of them used to be independent settlements, but have been included within the city limits. 

While comparatively underdeveloped as of right now, some of these places are heading into big-scale redevelopment. They’re known and prized for nigh-untouched greenery and beautiful views, and most development companies operating here aim to build top residential properties that will rival the “1st Line” in scope and prestige.

Green Cape (home to Batumi Botanical Garden) and Makhinjauri are currently two of the most high-profile and prestigious among these outskirt locations. You can look to buy seaside apartments in Batumi City here if you want “1st Line” scope in a quieter setting and at a comparatively affordable price.

Investing in Real Estate Near Batumi

You might decide that the bustle of Georgia’s second-largest city isn’t for you. But you also don’t want to give up real estate investment opportunities in Batumi.

In that case, you should look at nearby towns. Consider real estate investing opportunities in Chakvi, Tsikhisdziri, Gonio, and the like. There are plenty of seaside resorts on the rise in Adjara, and some of them are being primed as luxury eco-travel destinations right as you’re reading this. 

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