Buying property in Georgia: a great option for investors
The results of 2018 showed really astonishing results. Thus, it was a surprise for many that Georgia experienced a real explosion of tourist attention last year. A total of about 9 million tourists have visited this country in the past 12 months, which is a 10% increase compared to the same period of 2017. By the way, the main part of this result are Russian tourists. More than one and a half million Russians preferred Georgian species to Turkish beaches.
According to the latest report of Colliers International, such interest of tourists has led to a 44% increase in the hotel industry of the capital city and 109% increase in Batumi.
Alliance Group analysts, in turn, emphasize that thanks to the tourism boom, the number of hotel-type real estate offers has also increased. According to the specialists, the most popular cities among tourists are Batumi and Tbilisi. It should also be emphasized that the Alliance Group is the main constructor in these regions. As of today, its Georgian portfolio includes more than 20 residential complexes and apart-hotels with a total area of about 1.3 million square meters. Current projects of the developer include Alliance Highline, Alliance Privilege and Alliance Palace. All these projects are focused on investment demand and are intended for rent.
Buying real estate in Georgia by Alliance Group
Alliance Group has already started construction of two new sites in Batumi. According to the market, this region is one of the most popular tourist destinations. The average price per square meter of apartments is 700 dollars, but for more comfortable conditions a tourist will have to pay from a thousand dollars per square meter.
Thus, by 2021, Batumi will have an LCD Alliance Privilege. This building will be a 54-storey building, the first 5 floors of which will belong to the hotel. All other building will belong to wealthy owners of apartments of the residential complex. The 41-storey building of Alliance Palace will appear with the same purpose. As is already known, both buildings will be placed on Batumi Boulevard. The last building will be available for use a little earlier than the Alliance Privilege residential complex in 2019.
However, it should be noted that Tbilisi is still the main magnet for tourists, because this is where their trip to Georgia starts. This is where the main airport of the country is located as well as the historical center of the state. This is why the Alliance Group decided not to miss such a place and has already published several development projects in the city. Thus, the residents of the capital will soon be able to see the highest tower of the city – Alliance Highline Tbilisi, which will consist of 40 floors.
This is great news, experts say. Taking into account the fact that Georgia can host guests almost all year round, it would be foolish to miss such a chance of developing the economy of the country.