Are you looking to make a more significant real estate investment in Tbilisi, Georgia than buying a rental condo or two? If so, we can also be of assistance to you.
Tbilisi is a highly suitable location for the development of all types of commercial property including retail and prime office space. However, the most suitable commercial venture of all in Tbilisi is the development of hotels and aparthotels.
Tbilisi currently has one of the fastest-growing tourism markets in the world, with visitor numbers increasing by somewhere in the region of 30% year-on-year. With new routes to Tbilisi being announced on a regular basis – and additional flights on existing routes – this rapid growth in tourism numbers is set to continue for the foreseeable future.
There is currently a significant undersupply of hotel rooms in the city in all categories – from hostels right up to five-star luxury hotels. As a result, occupancy rates in the city are high – well over 80% in many cases – and rates are also high, particularly during the peak summer months. As a result, hotel operators are enjoying exceptionally high yields from the existing hotels.
Although there are several hotels under development in the city, the number of new rooms scheduled to be completed over the next few years are still nowhere near sufficient to cope with the constantly growing demand. This means that high occupancy rates and room rates are sure to continue well into the future.
As a result, the potential for any investor looking to develop hotels and other hospitality services in Tbilisi are high.
We have developed an excellent network of contacts among property developers in Tbilisi who are able to provide a full range of services for investors who wish to take advantage of the excellent opportunities which currently exist on the market.
For more information regarding commercial opportunities in Georgia, please contact us with details as to your requirements and interest in the field and we will be delighted to provide you with options that will enable you to meet your objectives.
