Batumi, situated along the Black Sea coast and widely regarded as an appealing city, has consistently captured the interest of investors. This can be attributed to a variety of factors.
Investment Appeal:
Batumi has garnered numerous accolades for its investment appeal, repeatedly earning the title of the best investment city and securing a top position on Forbes’ prestigious ranking list. In 2022, the World Travel Awards recognized Batumi as the rapidly advancing tourist destination in Europe.
Growing Investments:
The surge in investments in Batumi can be attributed to the affordable rates of property market and a favourable tax system. Notably, apart-hotels have emerged as a key catalyst for investment growth. In 2018, Batumi witnessed the sale of more than 10,000 apartments, a figure that surpassed 16,000 in 2022, according to the data from NAPR.
Tendencies of the Tourism and Hospitality Industry:
Interestingly, the demand for real estate persists, Post-pandemic, Batumi’s hotel industry has witnessed a substantial upswing, with a noteworthy 67% of hotels maintaining consistent occupancy rates. Additionally, average room rates have surged to their highest level in six years, according to data from STR Global.
Batumi’s 240 hotels could only provide 5 beds per 1,000 visitors, figure significantly lower than the global market average of 15 beds. Analysing this data alongside the 2022 tourist visit statistics from the Georgian National Tourism Agency (GNTA) reveals intriguing trends in tourist behaviour and that there is still space for investment and growth.
New Possibilities of Investments:
Batumi’s booming construction market is often referred to as that of Dubai’s and the Elite Estate is at the heart of it all. The company currently lists a greater degree of brand new luxurious developments starting from black frame apartments helping it’s customers with the designing process to fulfil their vision and needs to a turnkey condition apartments enabling investors to start earning money almost immediately.
Regardless of the decision of our clients. Elite Estate stands by them from day one, from the designing stage to managing the properties.
