Did you know that Georgia is listed as one of the TOP 10 easiest countries in the world for buying real estate?
Any foreign national can buy real estate in Georgia within 2 working days even without visiting the country. And the only document required is a passport copy. Seems easy? In this blog I would like to talk about a few details in the process itself:
One of the best things about investing in real estate, especially with already renovated apartments, is that you can do it from pretty much anywhere. The first step involves selecting the property you need. Your return on investment depends on the type of property you purchase (be it a residential apartment or a commercial space) and the size, quality, and location of the property. We have the most updated database of properties available for sale and we work with only trusted developers. Most importantly, we do not charge extra fees or commission on property when you work with us: the sale price of any property is the same as the one listed on developers web-page. We can confirm there will be no difference in the price whether you go directly to the developer or take the independent route via our services.
When it comes to the real estate listed by the individual owners, the service fee depends on our pricing policy.
“One of the best things about investing in real estate, especially with already renovated apartments, is that you can do it from pretty much anywhere”
More good news is that you can buy a property online without visiting the country. In this case, we provide you with an inclusive overview of each option to help you to make the right decision. The offer includes the real estate portfolios for preliminary evaluation in accordance with your requirements and the calculation of return on investment for each option.
If you prefer to view the properties in person, we are happy to show you around. Since Tbilisi is a small city, 4-5 pre-chosen options can be viewed in a single day.
You can decide immediately or take your time. In both cases the paperwork can be done online without a need for the buyer to be present in Georgia. As soon as you have selected the best option, our lawyer will work with the developer to conclude a sales contract, with the lawyer filling out the questionnaires and application forms if necessary.
As soon as the sales contract is ready, the developer gives you approximately 2 weeks to submit your payment. It is important to keep in mind that a personal bank account eases the property management process. The property’s rental income is deposited to the owner’s account automatically. You can open a personal bank account in a day, and this can also be done online. Georgian banks are reputable players on the market. I would say that nothing else is as developed in Georgia as banking services.
Once you have fully paid for the property, on the same day the developer’s lawyer will assign the property rights to you at the Ministry of Justice and you will receive an online certificate of property ownership in 1 to 4 days. The entire registration procedure is open and transparent, and you can always check the status on the Ministry web-page.
