Israeli, Iranian citizens interested in buying real estate in Georgia

Business Materials 21 January 2020 19:18 (UTC +04:00)
Israeli, Iranian citizens interested in buying real estate in Georgia

BAKU, Azerbaijan, Jan.21

By Tamilla Mammadova – Trend:

Citizens of Israel and Iran have been mostly showing interest in buying real estate in Georgia in recent times, said head of the Georgian Real Estate Association Vazha Mgebrishvili, Trend reports citing Georgian media.

As for the Russians, he noted that after deterioration of relations between Russia and Georgia, which resulted in the suspension of flights from this country to Georgia, demand for real estate has relatively decreased among Russians, although this figure still remains quite high.

Mgebrishvili went on to add that in general, preference is given to apartments in the center of Tbilisi, especially in the old city.The most popular are traditionally apartments in Tbilisi and Batumi.

“Demand for real estate in Georgia from foreigners is quite high. There is interest from European countries, but mostly from Israel, Iran, Qatar, and other Middle Eastern countries. The demand from the Russians is still significant, especially in the center of Tbilisi,” Mgebrishvili said.

He noted that in the first half of 2019, 8 percent of real estate sales accounted for foreigners in Georgia, which is less compared to 2018, when citizens of other countries bought 13 percent of Georgian real estate.


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