Buying highly profitable real estate in Georgia: cozy apartments on the seashore in Batumi

In this article we will introduce to your attention apartments, which can be not only a potential place for your vacation in Batumi, but also an asset that pays off its maintenance. In addition, renting them out to vacationers can bring stable and steady profits and repay its purchase within a considerably short time. It is not necessary to remind that real estate in Georgia, and especially in the resort of Batumi, because of the quick payback, is immensely popular among investors. The apartments that we present to you are attractive for holidays, as they are located almost by the sea in the new Mega Palace Residential Complex.

The main reasons for buying property in Georgia in Batumi

Batumi is rightfully proud of the status of the best resort in Georgia, which in the past few years has been a topic of active interest among European vacationers. With its developed infrastructure, active marketing policy of the Georgian authorities, Batumi has become popular throughout the world, furthermore – in 2019, Batumi received the well-known international World Travel Awards in the nomination “The best fast-growing tourist destination in Europe.” In addition, in early 2020, Forbes inclulded Batumi in the list of TOP-6 cities where it is best to invest in real estate.

Let’s look at the main reasons for buying property in Georgia in Batumi:

· an ever-growing tourist flow – in 2019 the number of foreigners visiting Adjara, including its capital, exceeded 2 million people. But one still does not need to forget about Georgians from other regions who are also actively traveling for holidays in Batumi – in 2018 their number exceeded 450,000;

· extensive tourism potential – the city has not yet reached its tourism peak, it still has room for expansion, and the local authorities are increasingly contributing to the restoration and increase of the tourist flow in Batumi with active marketing policy;

· the restoration of the tourist flow will be facilitated by the availability of developed infrastructure, -one of the best on the Black Sea coast. Furthermore, in the near future the local authorities of Adjara are planning to make Batumi a gambling center, and even more – one of the TOP-3 cities in the world by the number of casinos;

· urbanization – the population of Batumi over the past few years has increased slightly due to internal emigration. Georgians from other regions of the country are moving here to live, as Batumi has a higher standard of living.

Due to such factors, the demand for residential real estate in Batumi will grow, which means that buying it for rent is economically feasible.

We recommend that you take a look at the numerous offers of property in Georgia.

Overview of the apartment in the “Mega Palace” Residential Complex in Batumi

The apartment that we offer you to purchase is located in the Mega Palace Residential Complex. This is a state-of-the-art multifunctional complex, which is located in the New part of Batumi. The building is constructed following the modern architectural trends, with special attractive exterior glass finishing accomplished in highly spectacular green glass.

Information about the Mega Palace Hotel and Residential Complex in Batumi

“Mega Palace” Residential Complex belongs to the luxury segment. The Residential Complex has a particularly good infrastructure, is located almost on the seafront and is built in very high quality. The complex is comprised of 31 floors, its area is 15 900 sq.m.

The first 5 floors of the complex are occupied by commercial facilities: shops, boutiques, cafes, a disco club, as well as a casino. From 6 to 12 floors the international hotel chain Best Western Premier (4 stars) is located, at level 13 – there is a restaurant and starting from 14th floor apartments are located. Hence , a beautiful view from the window opening to picturesque mountains comes as an additional bonus with the purchase of residential real estate in this luxury complex.

The new building was commissioned recently – in the 4th quarter of 2016. The complex was built in compliance with European building codes and taking into account the seismic activity of the region. Improved hydro- and noise insulation inside the building is performed by partition walls built of silicate brick.

Location of the “Mega Palace” Residential Complex in Batumi

The complex was built in a literally perfect location and therefore, its location deserves our particular attention. The building is only 300 meters away from the sea, and you will be walking to the beach along Lake Ardagani, where dancing fountains are installed. They are absolutely to be seen at night, when the backlights are on.

Near the new building you will also find the House of Justice, the Alliance Palace hotel, the police department, the Batumi Mall, the DS Mall, two hospitals, a gas station, a large number of various cafes and restaurants, a square with interesting sculptures.

Batumi water park (1.4 km), the dolphinarium (1 km), the center of Batumi (2 km) are also relatively closely located to the Mega Palace Residential Complex. However, the prevailing majority of attractions are in the central part of the city: the sculpture of Nino and Ali, Piazza, Argo cable car, astronomical clock, Europe square and many other attractions of the city.

Transport infrastructure is fairly well-developed around the building neighborhood. There are important motorways in the vicinity that make it easy to get to any district of Batumi, as well as reach to the airport (5 km), the Botanical Garden (12 km) or the border with Turkey (18 km).

The perfect location of the “Mega Palace” Residential Complex is noted on the Booking.com portal, as the area with the highest rating in Batumi (9.2 points “Excellent”).  

Infrastructure of ” Mega Palace” RC in Batumi

“Mega Palace” Residential Complex is attributed to the Suite category, and not in vain. It is indeed characterized by excellent infrastructure, which additionally attracts a large number of vacationers. The complex includes:

· large indoor pool, mini-pool;

· SPA and saunas;

· solarium;

· beauty shop;

· fitness room;

· restaurant and bar;

· underground parking;

· 24-hour reception;

· casino and night club;

· a playground

Guests and residents of the complex are guaranteed a high level of security. Entrance to the Mega Palace Residential Complex is secured with the help of a chip card, the territory is closed and guarded, round-the-clock surveillance is carried out.

There is also a management company in the complex that will help apartment owners organize their rental.

Parameters and photos of apartments in the “Mega Palace” Residential Complex in Batumi

The apartments for sale are located on the 26th floor, which, as noted already, guarantees a beautiful view of the city and mountains. Apartments are performed in studio format, with a total area of 40.6 sq.m. , consisting of a living room (23.4 sq.m. ), a hall (4.9 sq.m. ), a kitchen (7.1 sq.m.) toilet (4,1 sq.m. ), and a balcony.

Among some of the advantages in the apartment are: panoramic glazing, 3 meters of ceiling height, high-quality interior finishing, completely decorated with furniture (double bed, sofa, kitchen, chairs, table) and turnkey household appliances (flat TV, washing machine, boiler) .

The size and level equipment of the apartments are ideal for a single family living.

The advantages of buying apartments in the “Mega Palace” Residential Complex in Batumi

The apartments that we presented to you have the following key advantages:

· apartments are located in Batumi, in one of the best multifunctional complexes of the city;

· The Residential Complex is located very close to the sea, in a district with a well-developed entertainment and social infrastructure;

· the complex has its own excellent infrastructure, as well as safeguarded with a state-of-the-art security system;

· the apartments are on the 26th floor, there is a balcony and panoramic windows, so you can always admire Batumi and the mountains;

· high income potential – apartments in the “Mega Palace” Residential Complex in Batumi with a slightly smaller area (34 sq.m. ) are offered for rent on the Booking.com portal at a price of 35 USD per day (end of May-beginning of June 2020).

If you are interested in real estate in Georgia, and in particular in Batumi, get in touch with us by mail: [email protected] or via online chat. We will do our best to help you make a bargain, which will definitely satisfy you.

Why should I buy apartments in the “Mega Palace” Residential Complex in Batumi?

Apartments in the “Mega Palace” Residential Complex are located in one of the best multifunctional complexes in Batumi, which has its own good infrastructure and is located next to the sea (300 m).

Will I have to pay tax when buying real estate in the “Mega Palace” Residential Complex in Batumi?

No, taxes are not withheld for the purchase of real estate in Georgia. Only the sale of real estate is taxable. But if its price is higher than the purchase and there are no documents confirming the costs of its maintenance.

What is the tax on renting apartments in the Mega Palace Residential Complex for rent?

Individuals leasing residential real estate in Georgia pay 5% of income tax.