Lawyer Gia Poladishvili claims that the demand for legal services on purchasing real estate in Georgia has increased from the citizens of Israel. According to him, citizens of Israel are interested in buying real estate both for residential and investment purposes, the demand is especially increased on the real-estate in Batumi.
"Citizens of Israel were already active in terms of purchasing real estate in Georgia, but the fact is that the war actions increased their interest in Georgia further. In the direction of legal services and consulting, the number of clients has grown at least 10 times. Citizens of Israel are trying to get a short-term residence permit with the right to live in Georgia. According to our legislation, if the value of the purchasing premises exceeds USD 100,000, they can obtain a 1-year right of residence. Accordingly, I think this also leads to increased interest in purchasing real estate in Georgia," says lawyer Gia Poladishvili.
In 2022, 15,000 apartments, were sold to foreign citizens. According to statistics, the most, 6,062 apartments were purchased by Russian citizens, and in second place are citizens of Israel. Last year, they bought 1,892 apartments. According to the data of 1Q2023, out of 5,159 apartments were sold, citizens of Israel bought 671 apartments.
