Foreigners can purchase property in Georgia with the same rights as local citizens. The process is straightforward, and you don't need to be a resident. However, there are some restrictions on buying agricultural land.
There is no property purchase tax in Georgia. However, if you sell the property within two years, capital gains tax may apply. Property owners are also subject to a small annual property tax.
Yes, some Georgian banks offer mortgages to foreign buyers, but the terms may vary. Generally, a down payment of 30-50% is required, and the interest rates are higher for non-residents.
Many property management companies in Georgia offer services like tenant management, rent collection, maintenance, and more. These companies can handle all aspects of property management on your behalf.
You can find a wide range of properties, including apartments, houses, commercial spaces, and land. Popular areas include Tbilisi, Batumi, and Kutaisi.
Consider the location, property condition, legal status, and market trends. It’s also advisable to work with a local real estate agent and a lawyer to navigate the process smoothly.
