Georgian citizens buying more and more property abroad

Georgia Materials 20 May 2019 13:04 (UTC +04:00)

Baku, Azerbaijan, May 20


The demand for property abroad by Georgian citizens has grown, and the number of transactions has also increased - this indicator is growing by 6-8 percent every year, according to Realtor Agency “Property Abroad”, Trend reports via Business Georgia.

Citizens of Georgia show the greatest interest in buying apartments in the European Union, the reason for this mostly is visa-free travel between the country and the EU.

“There are also some other factors that increase the attractiveness of individual countries from this point of view. For example, Poland is very popular, and this is probably due to the fact that the country favorably relates to labor migration. Turkey is in the top three, where property prices have declined due to the economic crisis, which boosts demand,” said Tatia Kobrashvili, Manager of “Property Abroad” company.

According to her, in general, demand is high for all parts of Europe - both Western - England, France, Italy, Spain, and Eastern - Poland, Czech Republic, Croatia, Montenegro. The demand for properties in tourist countries, such as Turkey, Greece, Thailand, and the Emirates, is also stable.

At the same time, interest in the United States remains stable and unchanged.

“From time to time there is a growing interest in Ukraine, where real estate is getting cheaper. Stable demand in the United States, where the acquisition of property gives the right to obtain a residence permit. The possibility of obtaining the right to legal residence also supports a stable interest in such areas as Malta and Cyprus,” Kobrashvili said.