Bukhaidze 8 is a premium, low-rise, boutique project which is suitable for investors looking for high short-term rental income or as a perfect pied-a-terre in the heart of the city. Located in the up-and-coming, trendy Plekhanov area, which is popular with the younger crowd, the project is close to many of the most popular amenities in the city. The River Mtkvari is just 250m from here, while the pedestrian area of Aghmashenebeli Avenue and start of the Dry Bridge are both just 500m from here. The popular Fabrika hostel and entertainment centre is 15-20 minutes’ walk away.
Containing just 18 apartments in a low-rise building standing just five storeys high, the project is ideal for anyone not wanting to buy in a high-rise project containing hundreds of apartments. What really makes Bukhaidze 8 special, however, are the amazing views from all but the lowest floor. With perfect views of Mtatsaminda Hill and Tbilisi’s city centre below, these views are some of the best that the city has to offer.
With the project containing so few apartments, it is perhaps not surprising that there are already very few apartments remaining on the project. At the time of writing, there are just four one-bedroom apartments remaining, ranging from 53.2m2 and going up to 63.0m2. Each of the three main floors of the building also contain a two-bedroom apartment of 124m2. These two-bedroom apartments can be configured with either one or two-bathrooms. Looking for something really special? If so, the entire top floor of 400m2 is available for the sum of $470,000. For the regular floors, prices start at $1,100 per m2 for the second floor, $1,200 for the third and $1,250 for the fourth floor.
All apartments at Bukhaidze 8 are supplied on a ‘white frame’ basis, which means that they come with bare concrete walls, floors, ceilings, no bathrooms, etc. Buyers here should budget an additional $150 per m2 in order to make the finishing for the apartments.
Having started construction in mid-2019, this small construction project is due for completion by May 2020. The payment plan here is 30% upon contract with the remaining 70% paid in installments through until July 2020, meaning that buyers can be starting their finishing before having full paid for their apartment.
Due to Bukhaidze 8’s excellent location and beautiful views, the one-bedroom apartments here are especially suitable for investors looking for good returns from renting to tourists on a daily/weekly basis. Our forecast yields for the project are in the region of 11% per annum. In addition, with the on-going ‘gentrification’ of the entire Plekhanov area, higher than average capital appreciation can also be expected from apartments in this project.
With just four one-bedroom apartments remaining on the project, interested buyers need to act quickly in order to secure one of them.
- Mountain Views