Located between Vake and Rustaveli, Vera is a quiet, upmarket area which is popular with both long-term residents of the city and also short-term rental tourists. The area is the centre of the city’s booming fashion industry and has a relaxed, Bohemian feel to it. The area has a lot of character due to the number of typical Georgian brick buildings in the area.
Petriashvili 46 is an exciting new project which is located on one of the best remaining plots still available in the area. Located high up the hillside gives the project outstanding beautiful views of either Mtatsaminda Hill or a panoramic view over the entire city – or a combination of both – depending upon which direction the apartment faces. Despite this quiet location, Rustaveli Metro is less than 15 minutes’ walk from here.
Given such a premium location, it should come as no surprise that Petriashvili 46 is a premium development. In total, the building consists of 12-floors, with the top levels stepped back in order to offer large terraces to residents. The building contains two floors of underground parking (with spaces available at $12,000 each), together with two floors of commercial.
Due for completion at the end of December 2019, construction at Petriashvili 46 is already well underway. The completion date is guaranteed by the insurance company, Ardi. Owners will be able to get access to their apartments in September 2019 so that they can make finishing to the units in order for them to be ready at the same time that the exterior of the building is completed.
Naturally, such a luxurious project as Petriashvili 46 offers some excellent facilities to owners and guests. In addition to the communal gardens and children’s playground, this is one of the very few projects in Tbilisi which offers a concierge service and also a cleaning service. This is an excellent facility for anyone looking to rent out their apartments to tourists who may need assistance during their stay in the city. Maintenance fees at the project are expected to be in the region of $20 per apartment per month.
There is a good selection of unit sizes available at Petriashvili 46. One-bedroom apartments start at 51.9m2 and range up to 69.8m2. Two-bedroom options start at a highly compact and affordable 59m2 going up to luxurious 120.9m2 units. Those requiring a three-bedroom apartment also have a good selection to choose from, starting at 113.7m2.
Having only launched in October 2018, prices at Petriashvili 46 are still affordable. Prices for floors four through seven are all priced at $1150 per m2 for apartments in ‘green frame’ condition. Floors eight and nine are $1250 per m2, eleven at $1300 per m2, twelve at $1350, with the penthouse level – floor 12 – at $1500 per m2. Most apartments on the top three floors come with beautiful, large terraces, which are sold at reduced prices per m2.
Buyers should budget an additional $150 per m2 for finishing – giving a total starting price for a finished apartment here at a highly reasonable $1300/m2.
The payment plan at Petriashvili is 30% upon contract, with the remaining 70% paid in equal monthly installments throughout the course of the build. For those looking to buy in order to obtain Residence in Georgia, Cadastrial Codes for each apartment in the building should be available by the end of 2018.
For buyers looking for investment properties to rent on the short-term market, the one-bedroom apartments will offer excellent returns due to the location of the project, within easy walking distance of Rustaveli together with the beautiful views. For investors, we are predicting net annual yields of up to 14.64%.
So, whether you are looking for a high-yielding investment property or a beautiful home for yourself, Petriashvili 46 is an ideal choice.
Floor Plans & Pricing
- 24/7 Security
- Children's Playground
- Cleaning Service
- Close to Metro
- Concierge Service
- Mountain Views