Elite real estate and residence permit of Georgia: 1-bedroom apartment in downtown Batumi

Residential real estate in Georgia, especially in Batumi, is ranked the second by attractiveness of investment after Tbilisi. It is noteworthy that on the eve of the new year, Forbes published analytical ratings on the best destinations to invest in 2020, and Batumi was among the TOP-5 cities of the world, which is rather self-explanatory, given the rapid increase in demand for real estate, plus there is no “overheating” of the market. Therefore, investors who want to profitably invest their money are recommended to consider this 1-bedroom apartment in the “Porta Tower Batumi” elite complex. First of all, with excellent living conditions created, and secondly, with great location, these apartments in the residential complex are in constant demand among foreigners.

Attention!!! Are you interested in affordable real estate in Georgia for personal residence or for renting, or perhaps you are planning to open an account with a bank in Georgia or register a business in Georgia with favorable taxation and gain free access to international markets. If so, do not hesitate to contact us straightaway at [email protected] or by online chat. We will get back to you as soon as possible. 

Why it is worth buying property in Batumi, Georgia

Batumi is the most famous resort city in Georgia which is an inarguable fact, backed up by relevant statistics – more than 2 million visitors for 2019. Of course, the tourist boom, as the key determining factor for real estate market in Batumi, has had a significant impact on the real estate market.  Batumi attracts and will continue to attract tourists for many reasons, including:

• more than 280 sunny days a year;
• warm Black Sea;
• one of the best entertainment infrastructures in the Black Sea;
• affordable holiday offers;
• optimal price and quality of service ratio.

No wonder that Batumi has every chance to become the “Black Sea Las Vegas”, which is actively promoted by the government of Adjara. Their plans include opening more than 50 casinos and making the city ​​one of the largest gambling centers in the world. And by the way, the close proximity to Turkey, where gambling is prohibited, is another, highly determining factor.

In addition, we should keep in mind that the Georgian government continuously pursues the policy aimed at increasing the tourist flow from 9 million to 12 million foreigners per year. Of course these expectations will be adjusted given the influence of the coronovirus, but the epidemic will end soon, the borders will open and the tourist flow will gradually recover.

Thus, although at the moment the demand for rental housing has decreased, but after a while it will recover and even increase.  

In addition, investing in real estate, including in Georgia, is advisable, even because of the need to diversify risks. Georgia has very loyal laws, no restrictions apply to foreigners, and their property rights are guaranteed at a very high level.

Keeping money in foreign currency at European, Russian and other banks is not always rational. After all, deposit rates in USD rarely exceed 1% per annum, and now, even against the backdrop of the struggle with the consequences of the economic crisis, they will generally go downward and many businessmen will have to revisit their investment decisions taking a closer look at the real estate. And therefore, investing in residential real estate in Georgia, Batumi, can be a prudent investment decision.

Furthermore, residential housing in Georgia on the seashore can also become a place for personal living and recreation. The advantages are numerous: developed infrastructure, affordable prices for food, clothing and accommodation. Thanks to this, living here is even more comfortable than in many European, Russian or other cities.

Learn more about the new rules for applying for a residence permit in Georgia

Porta Tower Batumi еlite residential complex: infrastructure and benefits

Located in the very center of the city, Porta Tower Batumi, one of the most prestigious RCs in Batumi was commissioned in the 2nd quarter of 2016.  Almost all the famous Batumi sights – the Alphabet House, the moving sculpture of Nino and Ali, the Chachi Tower, the statue of Medea, Old Batumi Boulevard are all in the closest proximity to the complex. Near the house there is a park, and the sea is only 350 meters away. As an evidence of high concentration of social facilities and attractions around the Porta Tower Batumi it should be highlighted that within 500 meters from the building there are 72 restaurants, almost all of them among top ten highly favourable ratings on Tripadvisor portal , and 26 attractions that also are on top ranking positions among travelers.  

The location of the complex will also be attractive for gamblers. After all, within the reach of 1 km, in the nearest hotels a vast variety of different casinos can be found: Golden Palace Casino, Casino Iveria, Adjarabet Casino, Casino international, Intourist Libery Casino . And also investors have in the plans to open a casino right inside the  Porta Tower Batumi residential complex.  It will be located on the second floor and will occupy an area of ​​1 962 sq.m.

It should be noted that according to the Tripadvisor portal, this new building earned 97 points out of 100 for its location. Travelers on another world famous Booking.com portal , rated the location of the residential complex at 9.9.

In addition to the excellent location, Porta Tower Batumi RC also has a very high-quality infrastructure. It includes a hotel with 105 rooms with a total area of ​​9,766 sq.m., a restaurant (1,466 sq.m.), a SPA and a fitness center (667 sq.m.), a lobby and meeting rooms (552 sq.m.) , 2-level underground parking for 340 cars, a swimming pool, 6 elevators, 24-hour security and video surveillance.

Overview of the apartment in the Porta Tower Batumi residential complex

The apartment we would like to draw your attention to, is located on the 14th floor of the 43-storey building of the complex. Its area is 57 sq.m., which includes:

• a living room (15.5 sq.m.) and a kitchen (8.6 sq.m.), which is separated from the living room by a small partition;
• a bedroom (16.6 sq.m.) and a terrace with a sea view;
• bathroom (5.0 sq.m.);
• corridor (6.7 sq.m.).

The apartment is offered with first-class turnkey European-style repair, and fully equipped with furniture (tables, chairs, sofas, armchairs, a kitchen, a double bed), textiles (curtains, carpet), high-quality plumbing and household appliances (refrigerator, air conditioning, flat-screen TV, kitchen appliances ) and with all communications available: water, gas, electricity, internet.

The apartment can provide maximum convenience and comfort for a group of 3-4 people who are in Batumi for vacation.

Profitability potential of the apartment in Porta Tower Batumi residential complex

The location and the access to high-quality infrastructure makes the apartment in the complex ideal for rental. Similar housing in the same complex (area 55 sq.m., 1 sofa bed and 1 double bed) on the Booking.com portal is leased for 59 USD per day as for the end of April 2020. Given that the high season in Batumi lasts from 4 months and during this period the price rises to 70 USD, we can predict that apartment can generate income in the amount of about 20 000 USD per year. 

Approximate expenses: 1,200 USD for maintenance and 5% (1,000 USD) for tax.

Why you should buy an apartment in Batumi, Georgia

We believe you need to consider the following reasons to buy the presented property in Georgia, located in the Porta Tower Batumi residential complex:

• constant demand for apartments in this complex, due to its favorable location, developed transport and social infrastructure;
• only 30 minutes by private car to the border with Turkey;
• “turnkey” repair and full equipment of the apartment with everything necessary for comfortable living;
• very developed infrastructure inside the complex;
• the presence of a management company that will take care of all the issues associated with renting the apartment;
• high yield – many times higher than the earning potential of deposits in foreign currency, especially taking into account the introduction of negative interest rates on deposits;
• right to residence permit of Georgia.

Buying property in Georgia is also feasible due to the fact that excellent conditions for doing business are available in the country (7th position in the Doing Business 2020 rating):

• purchase of a property is not a taxable transaction;
• formalities associated with the transaction take only 1 day, and availability of a foreign passport is enough to process the deal;
• income tax on the rental of property is only 5%.

In view of the above, we can state that it is recommended to invest in real estate in Georgia. After all, the government of the country continues to pursue its plans to further popularize the country globally, as a preferred place for holiday as well as residence.

How to buy real estate in Georgia remotely

The development of blockchain technologies in Georgia makes it possible to buy real estate without leaving home, with a high level of reliability and confidentiality of the transaction. Conventionally, the remote purchase scheme can be divided into the following steps:

1. The client selects a property and contacts our consultants at Offshore Pro Group.
2. The client is provided with a unique registration number of the property so that he can verify it on the official website of the State Register. 
3. A preliminary contract is concluded between the seller and the buyer of real estate. The contract is sent to the client’s email for preliminary review and approval.
4. The sales contract signed by all parties is sent to the buyer’s address.
5. After receiving the contract, the buyer transfers the required amount for the specified details.
6. A power of attorney for the right to register real estate in the register is prepared and mailed to Georgia.
7. Registration of real estate in the House of Justice in Georgia.
8. An extract is sent to the buyer with a unique registration number so that he checks his status as an owner on the website of the State Register.

If you have made up your mind to purchase a 1-bedroom apartment in the most prestigious complex of Batumi or are interested in other real estate, contact us straightaway at [email protected] and we will contact you as soon as possible.