Ezo is the latest project from the developer of the highly-popular Old City Panorama project, which has been one of our top-selling projects since it was launched at the start of 2021. Having been launched only in April 2022, Ezo is currently available at highly-affordable pre-sale prices.
Ezo is located just 600m from Old City Panorama in the Chughureti district of the city. Like Old City Panorama, it is located on a hilltop plot which offers stunning views over Tbilisi Old City and Mtatsaminda Hill from many of the apartments as well as the famous Trinity Cathedral. This location is just over 500m from the River Mtkvari and is also just 750m from the popular Fabrika hotel and entertainment complex.
The project is an upmarket boutique development which has been designed very much for investors looking to benefit from the short-term rental market. In total, the project consists of just 35 apartments spread over five floors at the highest level on a plot of 2000m2. Scheduled for completion in spring 2024, Ezo offers an unparalleled selection of facilities for a project of its size and affordable starting prices. The project offers a large green, garden area at the project’s centre which includes a children’s playground area and small basketball court. Most notable among the facilities, however, is a communal roof terrace which features an infinity pool offering the most spectacular views of Old Tbilisi. Projects with swimming pools are still quite rare in Tbilisi – especially for projects with such a central location. Parking spaces are available to buy here for an extra price of $15,000 per space.
As Ezo is designed very much with investors in mind, the majority of apartments here are one-bedroom apartments that have proven to be the most popular sizes for investors. Apartments here start from just 31.2m2 for an apartment with no balcony and go up to a maximum of 63.1m2. For clients looking for two or three-bedroom apartments, there are options to combine two adjacent apartments to create larger sizes. For anyone looking for a spectacular residence for themselves, there are two penthouses available – one of 260.9m2 with a huge terrace containing a private pool, and another at 134.7m2, which also has a large terrace.
Prices at Ezo depend upon the view and the floor, starting at just $1,400 per m2, rising to a maximum of $1,750 per m2 for apartments on the highest floors with the best views.
The payment plan at Ezo is the most common in Tbilisi – namely 30% on contract, with the remaining 70% spread over the remainder of the build in equal monthly installments. The project is completely funded by Bank of Georgia, which guarantees completion of the project. Because of this fact, it is possible to take the 70% installments on a mortgage of up to ten years.
As is the case with the majority of new projects in Georgia, apartments at Ezo are supplied on a ‘green frame’ basis, which means that they come with bare concrete walls, floors, ceilings, no bathrooms, etc. Buyers here should budget from $170 per m2 (of the interior area only – not including the balcony) for finishing works.
With its great location, beautiful views and pool, plus smaller apartment sizes and low starting prices, Ezo is the perfect purchase for the smaller investor in the Tbilisi property market, requiring a minimum investment of just $70,000 including finishing and furniture. At these affordable prices, investors can expect yields well over 10% on the short-term rental market.
- 24/7 Security
- Basketball Court
- Children's Playground
- Mountain Views
- Roof Terrace
- Swimming Pool