Citizens of Israel, Ukraine, Russia and Kazakhstan buy the most residential real estate in Georgia. As Nata Modebadze, a member of the Board of Directors of the Georgian National Real Estate Association declares, that foreign citizens traditionally buy apartments in Tbilisi and Batumi.
"We recently conducted a survey among members of the association and found that buyers from Israel were particularly active. There is also interest from Russia, Ukraine and Kazakhstan. As for Iran, demand from this country is down compared to the previous years. European countries are less active, the demand is more from the Baltic countries.
Due to the pandemic, the decline affected the citizens of all countries compared to 2020, while the market has become more active this year.
Residential real estate is mostly bought in Tbilisi and Batumi. There is a demand for economy and medium class apartments in Batumi for rent, which price ranges from USD 50,000 to USD 100,000. As for Tbilisi and its surroundings have become active. Kaklebi, Tskneti, Lisi are the places, where the property price has increased and the demand is higher”, Modebadze said.
