Buying Real Estate in Georgia: Below, our lawyers in Georgia explain the steps for buying a property in this country. You can rely on us for purchasing any type of property in Georgia.
Foreigners seeking to buy real estate in Georgia
Georgia has become an open country when it comes to foreign investments, however, the government still imposes certain restrictions on ownership of land, which is also common in other small European countries.
Most of the types of properties that can be purchased in Georgia are usually in the residential or commercial areas of cities like Tbilisi, Batumi, or Kutaisi, and are intended for these purposes. There are no restrictions when buying properties are natural persons who have moved to Georgia and looking for a place to live.
Companies can also buy various types of commercial properties intended for commercial or industrial use.
The only restriction applicable to foreign investors is related to the purchase of agricultural land, however, these can concession such land and still develop farming activities, for example.
If you are a foreign investor or citizen and want to move to Georgia, you can buy a property here without having to worry about lengthy procedures or hassle.
Steps in buying real estate in Georgia
Buying a property is an important decision when deciding to move to another country and Georgia makes no exception. There are a few steps to complete once the decision was made and, among these, we mention the following:
choose the most suitable region/city in accordance with the needs or requirements;
get in touch with a real estate agency or the seller, if the buyer is sure about the decision;
complete a real estate due to diligence check-up in order to make sure there are no problems with the selected property;
start the buying procedure by signing a pre-sale agreement before perfecting the transaction;
register the property with the Land Register once the purchase is completed.
Even if the real estate due diligence is not a mandatory step in buying a property, our law firm in Georgia recommends it as a measure of precaution.