Real estate in Georgia that is valued at millions
30 October, 2014
Real estate in Georgia that is valued at millions
Finding real estate to suit your needs is no longer a problem in today’s Georgia. There exist multitudes of webpages and agencies that offer apartments and private homes as well as office or commercial space. We have recently become interested in the most expensive living spaces available and addressed several real estate agencies to find out. After getting introduced to the field, we arrived at the conclusion that although real estate is the most expensive in Tbilisi, although other cities
aren’t far behind the capital – Kutaisi, Batumi and Black Sea coast in general are all quite pricy.

When living or office space is in good condition and well-equipped, one square meter of it can cost up to $2000-2500. Founder of one of the agencies, who asked to stay anonymous, said the following: “Currently we have several houses for sale that are priced at 3 million dollars; one of them is located in Krtsanisi. Its owner has been selling it for a long time, but the buyers are not exactly in a rush, because buying such expensive property is not an easy process. As my observations show, usually this kind of property is purchased either by foreigners or Georgians living abroad. In Georgia, you can count the number of people able to pay several million dollars for a house on your fingers”.
We also contacted Avtandil Gugeshashvili, founder and director of “Beruka LLC”, who openly talked on recent developments in the real estate business.
Avtandil Gugeshashvili: “Before the war in 2008, our real estate market was quite profitable and demand for more expensive homes was also high. But after the war, it all got worse. At this stage, our country is stagnating when it comes to selling real estate. Many people want to sell their stuff, but not many want to buy it, which makes matters quite complicated. Prices have grown in comparison to the previous year. Although it is hard to say what caused this, I suspect that it has something to do with both construction companies and homeowners raising their rates. As for expensive homes, they are divided in two categories – apartments that are part of apartment blocks and private homes, with their own yards and even farmsteads. As a rule, private homes cost far more. Then there are also buildings that aren’t homes, yet are quite expensive, such as hotels, factory buildings, plots of land – all these cost a fortune to obtain. And the price increases with size – the larger the area, the more expensive real estate is. Currently, real estate agencies have found some serious competition in webpages. Why would a buyer bother with an agency when he can do all his business on the internet? Homeowners place an ad on the webpage and potential buyers read everything they need there”
Kakha Mikaia, manager of “Relto LLC”, noted in a conversation with that plots of land or commercial space often end up costing far more than a home: “For example, currently there is a plot of land for sale in Poti, near the port, that costs $1 300 000. It includes a building and some installations. Another place where we have expensive real estate is Kakheti, where a large area costs up to $ 700 000. As for expensive homes, we have one for sale in Tbilisi’s Mtatsminda district. It is worth 2 million dollars. The same price tag is carried by an apartment in Vake district, which occupies an entire floor. Selling such expensive property is very hard; it takes a lot of effort to find a man who would seriously invest such an enormous sum of money into real estate.”
The situation is no less interesting when it comes to renting property. According to Tatia Zamtaradze, representative of “Tbilisi Rent LLC”, sometimes it is more expensive to rent an apartment rather than buy it. “Sometimes the rent ranges from $3000 to $5000, but that’s only for the best, most comfortable apartments that are usually found in Vake, Saburtalo, Sololaki, at Vera and Tbilisi’s central districts. These expensive apartments are usually rented by foreigners; sometimes businesses employing them cover the costs. Although it should be noted that demand for such expensive apartments is lower this year” – says Tatia.

Author: Khatuna Chigogidze
Other Stories
Batumi awarded Europe's Leading Emerging Tourism Destination 2019
World Travel Awards Europe Gala Ceremony 2019 took place on the 8th of June in Madeira, Portugal.
Coca Cola to open new factory in Georgia, will hire female drivers
Coca Cola is opening new factory in Georgia in December.
World's best party supply company now on the Georgian market
The largest party supply store in Georgia - MyDay is launching as the official distributor of AMSCAN from 2019.
Live as a marketing tool and an unprecedented live stream launched by Livetag
Sharing information has become smoother and more versatile in today’s technological world. Recently, live streaming, an online streaming media has become especially popular.
Theme and program of Caspian Energy Forum Tbilisi – 2019 changed
“The 8th International Caspian Energy Forum Tbilisi – 2019, scheduled for June 21, will focus on the development of the Azerbaijan-Georgia relations in the field of economy and energy”,
Misunderstanding over Poti deep sea ports
There was misunderstanding around deep sea ports in Georgia – in Poti.
High demand for dollars or the investment decline – Why Georgian Lari depreciates
$1 equals GEL 2,7470 in the official rate set by the National Bank of Georgia (NBG).
PSP Group confirms negotiations regarding purchasing of GEO Hospitals
PSP Group confirms negotiations regarding purchasing of GEO Hospitals.
New life to be given to Dashbashi Canyon
Georgia’s Agency of Protected Areas is planning to give new life to Dashbashi Canyon in Tsalka (southeastern Georgia).
Who is constructing “Khadori 3” Hydropower Plant in Pankisi Gorge?
Clashes broke out in Pankisi Gorge, Georgia’s northeastern region between special forces and residents
Business Positive – Successful radio program from Radio Positive
Starting point of radio program Business Positive is to meet interesting people, communicate with them and deliver information that is interesting for the audience.
A factory of electric vehicles to be built in Kutaisi
Prime Minister Mamuka Bakhtadze stated that a factory of electric vehicles will be built in Kutaisi at the presentation of the Aigroup business group.
Qvevri-shaped hotel complex to be built in Telavi
A Qvevri-shaped hotel complex is scheduled to be built in the village of Shalauri in Telavi, Kakheti (east part of Georgia).
Georgian designers presented at Fashion World Tokyo 2019
The products of 11 Georgian designers are showcased at Fashion World Tokyo 2019,
Silknet raises $200 million in Eurobond issue
27 March 2019 - JSC Silknet (“Silknet”), one of Georgia’s leading telecommunications operators, has successfully priced a debut $200 million 5-year 11% senior unsecured bonds issue (the “Notes”).
Pistachio trees will be planted in Georgia
Dozens of hectares of Pistachio are planned to be planted in Georgia this year.
Toyota Safety Sense and Hybrid Technology
Toyota Caucasus, has presented two new models the 5th generation RAV4 and the 12th generation Corolla at Rustavi International Motorpark, several days ago.
Bidzina Ivanishvili “became number one oppressor of businesses in Georgia” - ICC Georgia chairman Fady Asly
Mr. Ivanishvili promised the business community to protect them from harassment and pressure, unfortunately his words died with the sunset of that day
The best brands of Belarus will be exhibited on a large-scale exposition in Tbilisi
"The Belarusians like to come to Georgia to relax near the sea in Batumi as well as to stay in sunny Kakhetia."
Don’t treat business like a hooker! - Georgian businessman Vasil Soprpmadze addresses politicians
Businessman Vasil Sopromadze, founder of the company "Fresco", addresses politicians
RAV4 No Compromise and Corolla Set to Impress – Two New Cars Presented by Toyota
Toyota Caucasus, the company constantly aspiring to greatness, has presented two new models the 5th generation RAV4 and the 12th generation Corolla.
Mamuka Khazaradze quits TBC bank, does not sell the TBC Bank share
I made a decision to leave TBC bank where I spent 27 years of my life
10 Reasons to buy an apartment in the suburbs
There is a tendency for Tbilisi dwellers to move from central parts of the capital to the suburbs.
Georgian citizens are granted the right to work in France
The French Embassy in Georgia made remarks on granting Georgian citizens the right to work in France
The New York Times: Bitcoin declines but Georgia still bet on it
The New York Times has recently published an article about reasons, challenges and causes of generating Bitcoin in the former Soviet country Georgia.
GEL Exchange Rate
Other Stories
Recently Toyota rolled out Global Campaign under this slogan that reflects the Olympic and Paralympic Spirit of Encouragement,
A couple from Switzerland combines Swiss tradition and technology with Georgian products. Their cheese is made in the Georgian mountains and sold in local stores and hotels.
It has been more than five years since the residents of Lilo village, near Tbilisi, cannot open their windows.
63 000 GEL was received by the Georgian Agro Export Group which is just a small part of the European Neighbourhood Programme for Agricultural and Rural development.
Georgian entrepreneur Guka Tavberidze, who runs his own business in the UK and does it quite well, has been invited by BBC
The grand opening of 7-star The Biltmore Hotel Tbilisi took place in Georgia’s capital on July 31.
DUSHETI, Georgia – The Georgian government and the World Bank will allocate USD 5.6 million (12 million GEL) to fund
A new Georgian clothing brand named Person has emerged in Georgian market.
Georgia is in the midst of an economic maelstrom, Euronews reports.
Situation at Georgia’s mineral water market is interesting: over the last year, the volume of export has grown by 56 percent. According to “GeoStat”, over $114 million worth of mineral water was sold
GEL Exchange
June 2019
Mon Tue Wed Thu Fri Sat Sun
1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30