Investing in Georgia real estate

[backpacker]

My future will depend on crypto issues. GE works for me now, but I am yet to decide the future.

Maybe this -> Egypt issues $700 multiple-entry visa - Egypt Independent is an alternative.
Crypto is popular, albeit officially inexistent.
As a bonus, Georgia and Egypt have a very favourable DTT with each other.

 

[wellington]

I paid with a bank transfer, but people were generally enthusiastic for cash deals. I guess it would not be a problem. As far as I get banks would be fine if you show up with a suitcase of cash and some source of funds documents.

I found myhome.ge and ss.ge to be the most useful.

What about Crypto?

Thinking of a homestead in-case all hell breaks out in Western Society that we can bolt to

1. Best site(s) for searching
2. Lawyers for processing
3. Location location(s).

 

[Meta]

What about Crypto?

Thinking of a homestead in-case all hell breaks out in Western Society that we can bolt to

1. Best site(s) for searching
2. Lawyers for processing
3. Location location(s).

2. I used ExpatHub. I like them. They are Western-y, you don't have to deal with local quirks like "Why come to office, let's meet in a restaurant and drink some wine" and not delivering what was promised.
3. I was looking at Tbilisi. I've heard that Batumi is overpriced. A friend bought a house at some skiing place a few years ago, then some big sport events were announced and it is booming now, he is happy. Don't know details.
Info regarding crypto and sites is a few messages above in this topic, take a look. Cheers.

 

[backpacker]

What about Crypto?

Thinking of a homestead in-case all hell breaks out in Western Society that we can bolt to

1. Best site(s) for searching
2. Lawyers for processing
3. Location location(s).

Western society(?): Georgia is much more European Union than many EU member states.
If you want to have a homestead outside of this sphere of (Western) influence there are many options. However, Georgia is not one of them.

 

[MiddleEuroAsia]

Maybe this -> Egypt issues $700 multiple-entry visa - Egypt Independent is an alternative.
Crypto is popular, albeit officially inexistent.
As a bonus, Georgia and Egypt have a very favourable DTT with each other.

I tried it out for a friend the other day, and it works like a charm. You get it when you arrive, and it lets you stay for 90 days (not that enforced according to customs officers). After that, you could head over to Dubai for a day and then come back for another 90 days. The cool thing is, it's good for up to 5 years, and it only costs $700.

If you add in some visits to places like Hurgada, Gouna, or Sharm El Sheikh, it's a pretty awesome, Thailand like, setup. the difference is The banking is very laid back and it's a good place for crypto, even if it's not officially recognized. It's not perfect, but in my opinion, it's a pretty good deal.

 

[backpacker]

I tried it out for a friend the other day, and it works like a charm. You get it when you arrive, and it lets you stay for 90 days (not that enforced according to customs officers). After that, you could head over to Dubai for a day and then come back for another 90 days. The cool thing is, it's good for up to 5 years, and it only costs $700.

If you add in some visits to places like Hurgada, Gouna, or Sharm El Sheikh, it's a pretty awesome, Thailand like, setup. the difference is The banking is very laid back and it's a good place for crypto, even if it's not officially recognized. It's not perfect, but in my opinion, it's a pretty good deal.

Indeed, it is not a residence visa. I am a bit disappointed that the Egyptians did not go further and make it a real residence visa.
The 90-day rule conflicts with the current 180-day rule for tourist visa extension. It takes some charm out of the new visa.

 

[bigdaddyleon]

I have recently seen an increasing number of advertisements for real estate in Georgia (Batumi)
Among them is an advertisement with 21% yield (I think everyone knows that this will never be achieved in life) I have attached the brochure

But does anyone really have experience with real estate in Georgia?
I've been there twice myself, personally it's not necessarily for me.
I also don't know anyone in my environment who had ever considered traveling to Georgia for vacation and the people I met during my time in Georgia were either locals or Russians.

..
"Orbi Continental"

 

[Don]

I have recently seen an increasing number of advertisements for real estate in Georgia (Batumi)
Among them is an advertisement with 21% yield (I think everyone knows that this will never be achieved in life) I have attached the brochure

But does anyone really have experience with real estate in Georgia?
I've been there twice myself, personally it's not necessarily for me.
I also don't know anyone in my environment who had ever considered traveling to Georgia for vacation and the people I met during my time in Georgia were either locals or Russians.

..
"Orbi Continental"

I have met like 6 development companies in Georgia, and I know a number of people who have made great returns from their investments, but the situation in Georgia is indeed a bit uncertain.
What they've done in Batumi is quite amazing in my view. In about 10 years they have transformed the city with all these new buildings.

Its worth noting that most people I've spoken with about the topic we're not exactly fascinated by Orbi, but in the end of the day its by large about the price you are getting.
Indeed it's not a popular tourism destination amongst visitors from western countries.
https://en.m.wikipedia.org/wiki/Tourism_in_Georgia_(country)

 

[Meta]

I have real estate in Georgia. Commercial. Would not go for residential. 7% after all expenses and taxes, pretty much hassle-free. Locals are slow, but no bureaucracy, so easy to buy. Pretty satisfied.

 

[Don]

I have real estate in Georgia. Commercial. Would not go for residential. 7% after all expenses and taxes, pretty much hassle-free. Locals are slow, but no bureaucracy, so easy to buy. Pretty satisfied.

Did you obtain loan from Georgian bank or its unleveraged?

 

[bigdaddyleon]

I have real estate in Georgia. Commercial. Would not go for residential. 7% after all expenses and taxes, pretty much hassle-free. Locals are slow, but no bureaucracy, so easy to buy. Pretty satisfied.

Thats pretty good!

Did you obtain loan from Georgian bank or its unleveraged?

thats also a good question, how easy it is to get a loan in Georgia?
i heard its pretty easy.

 

[Meta]

It was without loan. Not sure if it's easy, but it's 9.8% per annum for USD, 13.4% for Georgian lari. Not good mortgage rates... თიბისი ბანკი - TBC Bank

Yep. Not that bad returns, not a bubble, no big problems with regulations... If one looks to diversify between a few countries, Georgia is worth a look I believe.

 

[Don]

It was without loan. Not sure if it's easy, but it's 9.8% per annum for USD, 13.4% for Georgian lari. Not good mortgage rates... თიბისი ბანკი - TBC Bank

Yep. Not that bad returns, not a bubble, no big problems with regulations... If one looks to diversify between a few countries, Georgia is worth a look I believe.

But such amazing gains might be thing of the past.
I heard the rents doubled within one year in Tbilisi after the Ukraine conflict started.

 

[cryptofriendly]

It was without loan. Not sure if it's easy, but it's 9.8% per annum for USD, 13.4% for Georgian lari. Not good mortgage rates... თიბისი ბანკი - TBC Bank

Yep. Not that bad returns, not a bubble, no big problems with regulations... If one looks to diversify between a few countries, Georgia is worth a look I believe.

I see the rents dropping for the past year though, as the Russians slowly move on from Georgia.
Not just the rents are dropping, but GEL is dropping vs. USD too. With CRS, Georgia seems less interesting than it was before.

 

[uplana]

what would be the win's on investing in Georgia, isn't it a country pretty much dead?