Demand for real estate has increased in Georgia

Date: 19.11.2015

In Georgia, the demand for real estate has increased sharply since 2014. According to statistics, by the end of 2014, the total amount of transactions increased by 6% and reached a record high of 882 million dollars. Such demand for real estate is due to the fact that in 2014, Georgia joined the "golden visa" program. Now, under the terms of this program, any foreigner who owns real estate in Georgia worth at least 35,000 dollars can obtain a residence permit.

It should also be noted that since 2014 Georgia has been an associate member of the European Union. In this regard, it is expected that a visa-free regime with the EU will be introduced for Georgian citizens, and persons with a residence permit in Georgia will be guaranteed a hassle-free visa to the EU.

With such obvious advantages, Georgia attracted a huge number of foreign investors in 2015, including not only buyers but also developers. The greatest demand is for real estate in Tbilisi, Batumi and Kobuleti.

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Yuriy Grushetskiy Founder of Deniz Estate