Kutaisi is one of the biggest cities in Georgia. It attracts a lot of attention, famous for its rich history, culture and picturesque landscapes. Located in the middle of the country, Kutaisi is an important administrative, economic and educational center. The real estate market here has a lot of variety: from the historic houses in the city center to the modern building developments and houses on the outskirts. There is something for every buyer and investor. Unlike in Tbilisi, real estate prices here are more affordable, which makes Kutaisi an attractive option for those looking for a new home or wants to invest in real estate.
Apart from its affordable real estate, Kutaisi has a lot of prospects for investment thanks to the continuous development of its infrastructure and influx in regional tourism. The city is rapidly evolving: new schools are being opened, along with hospitals, shopping malls and entertainment hubs. All of this contributes to the quality of life. For investors, this means greater opportunities to improve your return on investment: from rents growing and the properties appreciating in value overtime. Kutaisi attracts not only locals, but also international buyers, who value its unique combination of traditional Georgian culture and modern amenities.
Criterion | Mortgage | Instalment Plan |
Maturity | Extended time frame, which makes monthly installments smaller. | The time frame is smaller, which can lead to bigger monthly installments.
|
Interest Rates | Interest rates can lead to over-payment. | Does not include interest rates, making the overall purchase price lower. |
Borrower conditions | One of the conditions is good credit history and proof of income. | The conditions are more lenient. |
Flexibility | There is a possibility of refinancing to negotiate better terms. | The terms are more flexible when it comes to early repayment with no penalties. |
Risks | The risks linked to changes of terms imposed by the lender are lower. | There is a risk of terms being changed by the developer over the course of the construction process. |
The development choice requires careful analysis of the market and comparison of different developers’ offers. Firstly, you need to determine what your priorities and needs are: do you want an apartment for personal use or as an investment vehicle, what amenities and infrastructure do you require, what is the biggest time frame you are willing to agree to? Once you have looked into these criteria and begin to compare developers’ offerings, you should pay close attention to interest rates (or lack thereof), time frames, initial installment sum and additional payments and hidden commissions.
To make your search easy and to compare what different developers have on offer, you can use Korter.ge. The website has detailed project descriptions, purchase terms, prices and construction site photos. By using Korter.ge you will be able to effectively filter the options using parameters. Moreover, you will be able to see the available projects on an interactive city map and study 3D models of houses. All of this will simplify your selection process.
Installment plans can impact the total price of real estate. In spite of the fact that interest rates are not part of the terms or are rather small, this option is attractive compared to bank mortgages. The price of an apartment can include additional factors related to your installment plan, leading to a higher end price. So, all in all, buying real estate on an installment plan turns out to be more expensive than buying it outright.
On the other hand, developers can offer deals and personalized terms to attract buyers. For instance, you might benefit from a discount when your initial payment is bigger or when you complete your repayment within certain time limits. These deals can substantially lower the overall apartment price for the buyer. You should still study the terms of the contract when choosing your installment plan, so as to avoid surprise payments and ensure you are getting a good offer.
Zugdidi | from 2 659 ₾ / m2 |
Borjomi | from 2 402 ₾ / m2 |
Ureki | from 2 581 ₾ / m2 |
Poti | from 2 092 ₾ / m2 |
Shekvetili | from 3 993 ₾ / m2 |
Bakuriani | from 3 535 ₾ / m2 |
Kobuleti | from 3 540 ₾ / m2 |
Chakvi | from 3 647 ₾ / m2 |
Makhinjauri | from 3 108 ₾ / m2 |
Batumi | from 4 037 ₾ / m2 |
Gori | from 2 321 ₾ / m2 |
Gonio | from 7 137 ₾ / m2 |
Kvariati | from 5 190 ₾ / m2 |
Gudauri | from 4 333 ₾ / m2 |
Manglisi | from 2 251 ₾ / m2 |
Bazaleti | from 2 776 ₾ / m2 |
Saguramo | from 3 906 ₾ / m2 |
Tbilisi | from 3 783 ₾ / m2 |
Rustavi | from 2 274 ₾ / m2 |
Telavi | from 1 942 ₾ / m2 |
Zugdidi | from 95 221 ₾ |
Borjomi | from 72 996 ₾ |
Ureki | from 89 989 ₾ |
Poti | from 106 480 ₾ |
Shekvetili | from 127 659 ₾ |
Bakuriani | from 59 962 ₾ |
Kobuleti | from 66 801 ₾ |
Chakvi | from 71 782 ₾ |
Makhinjauri | from 72 340 ₾ |
Batumi | from 57 202 ₾ |
Gori | from 73 665 ₾ |
Gonio | from 57 202 ₾ |
Kvariati | from 152 075 ₾ |
Gudauri | from 97 847 ₾ |
Manglisi | from 93 778 ₾ |
Bazaleti | from 83 013 ₾ |
Saguramo | from 937 564 ₾ |
Tbilisi | from 66 759 ₾ |
Rustavi | from 72 549 ₾ |
Telavi | from 76 177 ₾ |