Park Home Vake offers investors a unique opportunity to ‘get in on the ground floor’ of what will be one of Vake’s most desirable residences. Despite being only a five minute walk from the heart of Chavchavadze Avenue, home to many of the city’s finest shops, cafes and restaurants, Park Home Vake occupies a large plot providing with a unique amount of green area – totaling 2000m2.
The project comes from Georgia’s most longest-established construction company that has been constructing projects since 1989. Over the last thirty years, the company has constructed a huge number of landmark projects across Georgia including the Galleria Mall, Hilton Hotel, new Batumi airport plus many, many more government buildings and infrastructure projects.
Scheduled for completion in December 2021, Park Home Vake consists of three buildings, each of ten floors. Currently, just one of the three buildings – Block B – is available for sale. The other two blocks will be launched at a later stage – but definitely at higher prices than for the first block.
For Vake, Park Home offers an unparalleled variety of facilities for owners and guests to enjoy. Most notable of these is the large, 26m long. indoor swimming pool together with a large, fully equipped fitness centre. The indoor facility area totals 600m2 in size and also includes an expansive lobby area with concierge service during working hours and security guards for the remainder of the time.
In the spacious lanscaped garden area, facilities here include a children’s playground and a sports court offering basketball and five-a-side football. The project also offers parking for 400 cars at an additional cost of $18,000 per place.
Maintenance fees for the upkeep of the facilities will be GEL 2 per m2 per month, but use of the swimming pool will be extra – although significantly cheaper than for commercial pools.
The project offers a variety of different sizes of apartments to choose from, starting with one-bedroom apartments of either around 49.3m2 or 64.6m2. Those looking for a two-bedroom apartments have a wider selection to choose from, all sized in a region of 90-105m2. Three-bedroom apartments are sized around 125m2 and for those looking for the ultimate apartments here, there are four different four-bedroom apartments available, each of just under 200m2.
Apartments at Park Home Vake are supplied on a ‘green frame plus’ basis, which means that the walls and floors are smooth, requiring less work than for a standard green frame apartment. Also included is ‘smart home technology’ so you can control settings for your apartment and see visitors on your smartphone. As a result, prices for finishing should start around $120 per m2 rather than the standard $150 per m2.
Prices at Park Home Vake start at $1500 per m2 for large apartments on the first floor, going up a little for each floor above this, topping out at $1750 per m2 for the penthouse apartments. However, ‘early bird’ investors are able to obtain good discounts from these launch prices as long as they buy before the official start of construction in February 2020. Up until this time, clients of either Bank of Georgia’s SOLO Club or TBC’s Status program are eligible for discounts in the region of 12-15%, depending upon the size of the apartment that they are looking to buy.
At this stage, early buyers need only pay a reservation fee of $3,000 for their apartment, with the contract payment of 20% only due once construction starts in February 2020. After making the 20% contract payment, buyers get a whole 30 months to pay for the remaining 80%, which means that they will be able to start living in their apartments with six months of payments still remaining.
For anyone looking for a good, long-term investment option, Park Home Vake is going to show some of the best capital appreciation possible in Tbilisi, plus excellent rental yields after completion.
- 24/7 Security
- Basketball Court
- Children's Playground
- Concierge Service
- Fitness Centre
- Football Pitch
- Mountain Views
- Swimming Pool