Buying real estate in Georgia for a Russian citizen is as easy as for local residents

July 17 2020

Recently, there has been a noticeable increase in the acquisition of real estate in Georgia among Russians. This is facilitated by the fact that due to the increase in the growth of tourism, it has become profitable to purchase real estate in the tourist cities of the country, such as Tbilisi, Batumi, Bakuriani, etc. Georgian legislation allows all citizens to purchase real estate in the country without exception.

Wherever you choose to purchase real estate in GeorgiaThe same rules apply throughout the country. We will help you to familiarize yourself with these rules now. The process of buying and registration of ownership of real estate is extremely simple and transparent. Any buyer will need only his passport and 1 day of time. All purchase and sale transactions take place in the brothel of Justice. The process is simple and takes only 15-30 minutes. The process of buying primary real estate (from the developer) and secondary (from the owner) do not differ. If you buy an apartment in a house under construction, two contracts are being prepared - preliminary and main.

A preliminary sale and purchase agreement implies registration of an apartment for the buyer, as for the future owner, until the parties fully fulfill the conditions. On the part of the buyer - until full payment, on the part of the seller - until the completion of the construction process and putting the house into operation. The contract does not need to be certified by a notary, the authenticity of each document is confirmed by an international barcode, which is not subject to any fraud.

How does buying and selling take place?

  • Making a deposit for the property you like.
  • Conclusion of a sales contract in 3 copies, the contract is drawn up in the Georgian language and in the language of a citizen of another country.
  • Cash settlement. The buyer can pay in cash, or deposit money into the seller's account.
  • Registration of the owner's rights, which is carried out on the basis of a sales contract and a document confirming the receipt of money by the seller.

The cost of the services of the Registry depends on the terms of registration of property rights.

There is no real estate tax in Georgia. Real estate insurance is also at the discretion of the client.

A foreign citizen can also buy real estate in Georgia remotely. Your trustee buys on your behalf (by proxy) and registers the rights in the registry. Either you do everything remotely, sign an agreement and pay through the bank, but later you, or an authorized representative, arrive to register the rights in the registry. We have already told you about the details of buying real estate online.