In the real estate investment world, there are differences between cities and suburbs, so how about if it is between countries! It is certain that each country has its own advantages and differences from other countries. With regard to real estate investment, there are great differences that may be between countries. Each country has special laws, studied conditions, permitted and prohibited things; what may be permitted in Georgia may be prohibited in Turkey, and vice versa. In the past ten years to these days, Turkey has proven to be a difficult figure at all levels, especially at the economic and investment levels, as it is a country with great economic weight.
What distinguishes it more is Istanbul, its strong economic capital and the thriving wheel that does not stop. In this article, we will explain some of the differences and comparisons between Georgia and Turkey and real estate investment in them.
• Real estate investment in Turkey
Buying a property in Turkey has many positives and advantages, the most important of which is that you will be residing on the land of one of the important countries that are among the countries that have obtained advanced ranks in terms of economic and cultural strength. And if you buy a property and live in it, you will in return get the comfort of living, facilitating the ways of life and reducing its difficulties. However, if you don't want to live in it and only buy it for trade and investment, in this case you are also a winner because you will make money at the end of the month through rent. If you buy the apartment and live in it, you will raise your children in a conservative environment in which the customs of the East and the development of the West, and this in itself is a great gain, in addition to that you will obtain Turkish residency thanks to this property.
An obvious advantage of buying real estate in Turkey is the favorable visa system and easy procedures for obtaining a residence permit. Citizens of many countries can visit Turkey for tourism purposes without wasting time and money on visa application. Indeed, after 5 years, real estate owners can apply for Turkish citizenship and become equal citizens of this wonderful country.
First of all, investing in Turkish real estate is beneficial due to its high cash. Apartments in residential complexes, which offer a wide range of services and are located in areas with developed infrastructure, are in great demand for year-round rentals. It's attractive for resale, too. The catch is that some real estate agencies offer already guaranteed rental purchase options. For example, you can get a guaranteed rent of between 5000 and 6000 euros per year if you buy a relatively small apartment in this way. The process of searching for tenants and handling all related issues will be the responsibility of the agency.
• Real estate investment in Georgia
It is possible to consider real estate investment in Georgia as unprofitable due to the small area of Georgia. But the truth of things is completely different, as this country is developing rapidly, as Tbilisi is one of the cities that attract many tourists from different parts of the world. This city has attracted the attention of many foreign investors, which made the real estate investment market in Georgia Tbilisi more competitive.
Georgia is witnessing today a major renaissance in the field of construction and contracting in general. The state is making every effort to develop infrastructure, public services, utilities and everything related to the real estate investment market, as that development and progress changed Georgia's destination from a collapsed state from the former Soviet Union to a developed and modern state. The construction and real estate projects in Georgia now make investing in that field very profitable, gaining high returns, making it a destination for many Arab investors.
Among the advantages of real estate investment in Georgia is that real estate prices are very suitable, as well as buying villas in Georgia is available to any investor and at the same time the investment profit from it is very high, as you can buy any hotel apartment in one of the prestigious neighborhoods in Georgia at a price that suits you, starting from $ 60,000.
• Conditions for real estate investment in Georgia
Before you make a real estate investment in Georgia, you have to know some conditions regarding this and we will show it to you as follows:
- Ownership cannot be negotiated in Georgia
The process of buying real estate in Georgia does not involve a lot of bargaining unlike many other markets. In fact, many Georgian citizens will not give up a few thousand dollars for the required price in the process of selling their properties, they view it as an opportunity that will not be repeated every day and therefore a unique opportunity to get the largest possible price from the buyer.
- All transactions in real estate investment in Georgia is in cash
An interesting thing about the real estate markets in Georgia is that all transactions are done in cash, and here you will need to take the money with you, because the Georgian seller keeps his money in the form of US dollars, and also asks you to pay the registration requirements that are paid in the local currency. In spite of that, this is not the appropriate way to do business, and on the other hand, it is the way in which the real estate markets in Georgia are dealt with.
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