The main rule of real estate "Location, location and location again" works with a vengeance in Tbilisi. The city has a complex terrain, elongated structure and very heterogeneous buildings. An elite house may be adjacent to dilapidated buildings, and the view of the mountains may be blocked by a new high-rise building in a year. It is extremely important for an investor, especially a foreign one, to understand not only the current popularity of the area, but also its prospects for 5-10 years ahead. A mistake in choosing a location can lead to the fact that even the most profitable installment plan will turn into frozen assets.
Saburtalo: The golden mean for life and business
Saburtalo is a huge, vibrant, urban area. Universities, business centers, subways and shopping malls are concentrated here.
- Audience: Students, expats, young families, medical tourists.
- Investment potential: The highest liquidity. It is easy to rent an apartment here on a long-term basis in 1-2 days. This is a stable, predictable income. Prices here are rising moderately, but steadily, following the inflation of the dollar.
Vacancy: Prestige and status
Vaca is called the area of bohemians, politicians and old money. There is no subway here (which is a disadvantage for many), but there is a Vake Park, expensive restaurants and boutiques.
- Audience: Diplomats, highly paid professionals, wealthy locals.
- Investment potential: High entry threshold. People buy here for Capital Preservation, not for speculative earnings. This is the "blue chip" of the Georgian real estate market.
Didi Digomi and Gldani: Points of growth
These are residential areas that are currently experiencing a development boom.
- Audience: Locals, young professionals, budget tourists.
- Investment potential: This is the lowest entry threshold. It is in these areas that the "sweetest" payment conditions are most often found. As mentioned in the article on the financial mechanics of installments, the low base price in such areas makes the monthly payment as comfortable as possible (from $400-500). The growth potential of the price per square meter here is higher in percentage terms than in the center, due to the development of infrastructure (new interchanges, parks).
Old Tbilisi (Sololaki, Mtatsminda): A tourist mecca
The historical center is always a risk and a high return.
- Audience: Tourists (daily Airbnb rentals).
- Investment potential: Maximum profitability in the season, but high depreciation costs for housing (tourists "kill" repairs faster). There are few new buildings here, they are expensive but exclusive.
How do I combine location and budget?
The choice of area should depend on your strategy.
