Anyone looking to grab a bargain in Tbilisi as a result of the Covid-19 virus is likely to be disappointed that the majority of developers have not dropped their prices or changed their payment terms. However, Royal Vake is a major exception to this rule as – for a limited time only – buyers here can enjoy some excellent discounts of up to 22% plus one of the best payment plans available – with just 10% payable on contract.
Royal Vake – as the name suggests – is a truly luxurious project in the most upmarket area of the city – Vake. Vake is the first choice for wealthy Georgians and foreigners alike due to the fact that the majority of the city’s embassies in this area, together with the best shops, bars, cafes and restaurants. Vake is also the location of the largest green area in the city in the form of Vake Park, plus the newly renovated Mziuri Park, which is less than 250m from the project.
Royal Vake is a 20-storey building which is located just 200m from Chavchavadze Avenue, which is the main retail street running the length of Vake, Construction of the project started in the summer of 2019, with completion scheduled for November 2021. The project is built upon a large plot of 2,000m2 which enables the project to offer a wide range of high-class facilities, which are rarely found on projects of this price-point. Residents and guests at Royal Vake will enjoy a large open-air swimming pool and a fully-equipped fitness centre. Inside the large landscaped garden will also be a children’s playground area, tennis courts and a jogging track and a bike path.
Inside the project, owners will enter through a beautifully decorated lobby area with a reception/concierge service plus 24-hour security. The project also offers four floors of parking, with spaces available for an additional cost of $15,000 each.
At Royal Vake, there is a wide choice of unit sizes available. One-bedroom apartments range in size from 54.0m2 up to 61.1m2. Two-bedroom apartments start at a compact and affordable 88.8m2, going up to a 133.2m2 two-bedroom/two-bathroom option. Those looking for larger three-bedroom options have a variety of sizes and layouts to choose from, starting at 145.8m2, going up to a large 217.4m2 option with a massive terrace.
As mentioned earlier, buyer at Royal Vake are able to secure large discounts if they act quickly. When the project was originally launched at the end of 2019, prices here ranged from $1300 to $1600 depending upon the floor. However, the developers are currently running a promotion where buyers can purchase any remaining apartment on any floor for just $1250 per m2. This makes Royal Vake one of the most affordable projects in Vake currently – and significantly less expensive than any other property with a similar range of facilities available for the use of owners.
The original price of $1300 to $1600 per m2 was the pre-launch price. Upon completion, prices will range from $1600 to $1900 per m2. This means that anyone buying on the highest floor will see capital gains of 52% in less than 18 months.
Apartments at Royal Vake are delivered in ‘green frame’ standard, which means that they come with bare concrete walls, floors, ceilings, no bathrooms, etc. Buyers should budget an additional $150 per m2 (not including the balcony) for making the finishing.
As well as the tremendous discounts that are currently available, Royal Vake also has one of the most attractive payment plans available in Tbilisi today. Buyers here need only pay 10% on contract (meaning that they can purchase with a payment of under $7,000). This is followed by 30% spread over the remainder of the build in monthly installments, with the final 60% only payable once the building is complete in November 2021.
Such is the attractiveness of the discounts and extended payment plan that this offer is unlikely to last for long, so buyers need to act quickly to secure one of the best units available here.
- 24/7 Reception
- 24/7 Security
- Children's Playground
- Concierge Service
- Fitness Centre
- Mountain Views
- Swimming Pool
- Tennis Courts