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Why You Should Invest in Batumi ?
Batumi one of the most stunning cities in the nation, boasts great urban architecture, excellent infrastructure, rocky and sandy beaches, mountains everywhere, a warm subtropical temperature, lush natural surroundings, and the Black Sea’s natural beauty. On the other hand, the city’s economy’s main driver continues to be the expectedly significant hospitality sector. The region’s seaside area, and Batumi in particular, have grown to be popular travel destinations for renowned hotel developers like Radisson, Marriott, Le Meridien, Sheraton, etc. The Batumi real estate market is expanding, with new structures, numerous housing complexes, and resorts springing up around the city and its environs. The influx of tourists and business owners who are prepared to buy a business in Georgia is the cause of the rising numbers in relation. The main industries contributing to the region’s economic growth are tourism and real estate.
Benefits to Invest In Batumi Property Market
The city of Batumi is expanding quickly. Expats from all over the world are drawn to it because of its location on the Black Sea coast, which was once part of the Silk Road.
Residential real estate in Batumi costs, on average, $771/m2, while in Tbilisi, it costs, on average, slightly over $1,050/m2.
Owning real estate in Georgia with an assessed market value of more than $100,000 USD or making investments totalling more than $300,000 USD in other kinds of business investments and real estate qualifies foreigners for a legal residency visa.
According to Georgia’s Tax Code, the highest annual property tax rate that can be paid on a residential property is 1% of its value. The local administration of each municipality, however, sets the exact tax rate. 2017 saw the establishment of a 0.2% personal property tax by Batumi’s representative body.
Reasons To Invest Your Property In Batumi With CFSI
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Capital FinServ International is a trusted Offshore Investment Advisory & Property Consultant providing premium investment solutions to ultra high net worth individuals, private bankers, qualified financial advisors, Insurance & Investment brokers globally. We are truly a global organization, bringing our diverse expertise and deep knowledge to the sophisticated financial needs of our clients and trusted partner, with unique product offerings from around the world.
We provide specialized property investment solutions globally in both residential and commercial properties. Our team of extremely knowledgeable and seasoned real estate professionals who are poised to provide best solution to our clients based on their requirements which include local & International property Investment.
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FREQUENTLY ASKED QUESTIONS
Real estate in Batumi can be divided into different categories based on location, proximity to the sea and developers. Therefore, this market has a wide price range: from about $30,000 to $300,000 per object
The most frequently visited travel website in Europe, European Best Destinations, which provides travel information to tourists, names Batumi as a safe tourist destination.
YES! Foreigners can buy property in Georgia. Foreigners have exactly the same rights when it comes to buying residential real estate as Georgian citizens have. There are no extra requirements for foreigners and there are no extra taxes either.
The average cost of living in Batumi is $901, which is in the top 36% of the least expensive cities in the world, ranked 5903rd out of 9294 in our global list and 2nd out of 10 in Georgia.
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