Georgia – The Jewel Between Asia and Europe
Apart from being known for its Hospitality, Georgia is also known for its perfect geopolitical location. Nestled between Asia and Europe, it attracts both investors and tourists from all over the world, thereby making it an attractive location for investors. You may have read countless articles that have been published naming Georgia as one of the top destinations in the year 2021. The team of Yourmove.ge, a real estate agency in Tbilisi, has compiled a list of reasons as to why investing in Georgian real estate is such a lucrative idea.
Strategic Location
Location! Location! Location! This is the mantra that defines a good real estate investment. Georgia’s unique location makes it a cost-effective yet efficient hub of easy access market. A 4-hour flight radius from Europe, MENA, and Central Asia mark the Georgian market to an economy of more than 1.5 billion people with a combined market worth of over 20 Trillion USD. International brands that have chosen Georgia as one of their hubs include Wissol, BP, Toyota, and Gulf, which have resulted in employment increases too.
House Prices
According to research done by yourmove.ge, property prices may have dropped during the first quarter of the year but should pick up the pace again by the third quarter. For real estate investors looking at buying properties, this means that the first six months of 2021 could be most favorable. Although there might be further dips in the economical state in Georgia, the new stimulus plans introduced for travel, investment, and loans will cushion the shocks.
Despite the Pandemic bringing a halt to almost all business sectors in Georgia, the real estate market has already started to make a comeback in the year 2021. In just the first month of 2021, over 1900 transactions of property purchase were registered in Tbilisi. Though it a relatively small number, it sure is an indication of an uprising market.
Easy Buying Process
Georgia has been named by the World Bank as the 7th out of 190 countries for the ‘Ease of Doing Business’ factor. This brings the Georgian Business market in the same range alongside markets like UK, Singapore, and Denmark. Buying property is a very quick and transparent process in Georgia available to citizens of more than 140 countries. Also, Georgia’s residency program through property investment is gaining popularity.
Small and medium-size property purchase has made Georgia real estate investment a continuously improving market. For buying any property, consult Yourmove.ge to help you choose the right property for the right budget in Georgia.
Still, Wondering if You Should You Buy A House During A Pandemic?
Rock-bottom rates make homebuying an attractive option, but there are still many unknowns and challenges when it comes to assessing how the pandemic will affect the market and consumers’ financial lives.
The good news for prospective homebuyers with stable income and plenty of cash on hand is that if massive layoffs continue, we may see a lot of properties coming up in the next few months at discounted prices, making it a buyer’s market. Purchasing a tangible item such as real estate is the best route to take, as long as you are smart about your finances and do not overextend yourself. Log on to Yourmove.ge to take a look at the many options that can help you find a forever home.