Buying an income apartment in Tbilisi from abroad
- 8.5%
- gross, G&T Jul 2026
- 4.9%
- net, worked example
After fit-out, one empty month, letting fee, 5% tax, 8% management (example rate) and 3% repairs.
Foreigners can own apartments in Georgia outright; the purchase is notarised and registered at the Public Registry within days. Bude finds, checks and buys on the investor's side, and manages the apartment afterwards.
Seven steps
From the first message to the first statement, typically six to ten weeks for a finished apartment.
Brief
Budget, target net yield, hold period, whether the residence permit matters, and whether you buy in your own name or through a company (see below). One call or one long WhatsApp message.
Shortlist with the numbers already done
Three to five apartments, each with price per m², the rent it earns or would earn, the gross-to-net waterfall and the state of the title.
Inspection, on video or with you
Mariam walks the apartment, the stairwell, the roof and the building’s paperwork. A structural engineer joins for pre-1960 buildings.
Title check at the Public Registry
A fresh NAPR extract: owner, encumbrances, mortgages, disputes. Off-plan: the developer’s permit, land title and completion history.
Price and terms
We negotiate on your side because you pay us.
Signing and payment
The sale contract is signed at a notary or in front of the Public Registry registrar, in person or by power of attorney. Payment goes from your bank abroad to the seller’s against the contract; you do not need a Georgian bank account, but the bank receiving the money asks for source-of-funds papers. Registration at the Public Registry takes four working days, or one day expedited, for a fee of GEL 50 to 200.
Keys, tenant, statement
Fit-out if needed, tenant sourced from the pipeline below, lease signed, first monthly statement.
Who will rent it
Bude started by placing students and still does, every August and January, from a Facebook group of 19,800 and its Instagram audience; professionals and families come by referral. Your apartment is let from the same pipeline, under the same lease. How letting and management work.
Whose side we are on
On our own sole-mandate listings we represent the seller under a signed mandate, and the seller pays. If you want us on your side across the whole market, you engage us under a buyer mandate, you pay our buyer-side fee, and nobody else does. We do not take fees from both sides of one transaction.
In your own name, or through a company
The tax rules on this site are for an individual owner. An individual pays 5% on gross residential rent, nothing on resale after two years, and usually no annual property tax while Georgian-source family income stays under GEL 40,000. A Georgian company pays 15% profit tax when it distributes, plus 5% on dividends, and must register for 18% VAT once its rent passes GEL 100,000 in twelve months. For one to three apartments, buying in your own name is almost always simpler; for a portfolio, the structure is a decision for a Georgian tax adviser, and we will introduce one.
Title, VAT and off-plan
Title: before any money moves we pull a fresh Public Registry extract and read it with you: owner, mortgages, encumbrances, disputes.
VAT: a developer's new-build price includes 18% VAT; a resale between individuals carries none. Compare prices per square metre on that basis.
Off-plan: Georgia has no escrow law and no statutory buyer protection for unfinished buildings. If you buy off-plan, the preliminary agreement is registered at the Public Registry so your claim has priority, the developer's permit and land title are checked, and the payment schedule is tied to construction stages.
Currency: prices are quoted in US dollars and paid in lari or dollars as the contract says; at the National Bank rate of 2.6218 on 25 September 2026, $100,000 is ₾ 262,180. Rents are quoted in dollars; taxes, utilities and building fees are in lari.
Prices and rents by district
Primary prices, asking rents and the yield they imply, by district.
| District | Price $/m² | Rent $/m² | Gross yield |
|---|---|---|---|
| Vake | 3,180 | 15.1 | 5.7% |
| Mtatsmindaincl. Sololaki, Vera | 2,945 | 13.0 | 5.3% |
| Chugureti | 2,323 | 9.9 | 5.1% |
| Saburtalo | 1,732 | 11.4 | 7.9% |
| Krtsanisi | 1,671 | 10.8 | 7.8% |
| Didube | 1,425 | 9.8 | 8.3% |
| Isani | 1,407 | 10.2 | 8.7% |
| Nadzaladevi | 1,294 | 9.5 | 8.8% |
Data: Galt & Taggart, Tbilisi Residential Real Estate – July 2026 (Monthly Market Watch dated 31 July 2026, published 31 August 2026), p.3 district map and Figs 11, 13, 17, 21, 22, July 2026. Prices are primary white-frame. Implied gross yield = rent × 12 ÷ price; it overstates for white-frame apartments because fit-out is not included. Updated September 2026.
Resale tax and the residence permit
Verified September 2026. Not advice.
Two-year resale
A residential apartment sold after two years of ownership is free of income tax on the gain (Ministry of Finance Decision 143, 14 May 2026). Inside two years the gain is taxed at 5%. For off-plan purchases the clock starts at registration of the finished apartment.
Sources on the Tbilisi data pageResidence permit
Since March 2026, property gives a temporary residence permit: one year, renewable while the property is held, for registered holdings valued at USD 150,000 or more by an accredited appraiser. Several properties can be combined; the contract price does not count. Owners registered before 1 March 2026 renew under the old USD 100,000 threshold. It is not, on its own, a route to permanent residence.
Sources on the Tbilisi data pageSend your budget, your target and how long you would hold.