Hill Home Residence is one of the most exciting project for investors that we have seen so far over recent years and has been one of our best sellers.
There are many reasons why Hill Home Residence is an ideal project for investors. Firstly we have the location in the popular area of Avlabari, just on the opposite side of the river from the Old Town. The project has been designed so that the vast majority of apartments here have beautiful views over the Old Town with Mtatsaminda Hill beyond. The location is less than 150m from 300 Aragveli metro station, which is just two stops away from Liberty Square — a journey time of less than ten minutes.
More important than these factors, however, is that the Residence is part of a larger project which includes a 170 room ‘Hampton by Hilton’ hotel, which is immediately adjacent to the residential building. It’s always great for investors to buy in a location right next to a branded hotel. By renting out apartments here at just a little over half the price that the hotel is sure to be charging, high yields can be expected.
Hill Home Residence began construction in mid-2019 and interior works on the project started in May 2022. The exteriors of the building and common areas will be completed during the course of autumn 2022. Standing 22 floors high, each of the lower floors contain just six apartments. From these, all but one apartment per floor have beautiful views towards the Old Town.
The project will be finished to a high standard, as can be expected as it shares a plot with the ‘Hampton by Hilton’ hotel, There will be an impressive lobby with a concierge service with the potential of ordering room service from the hotel, plus 24-hour security. There will also be a small garden area. The maintenance fees for the project will be just 1 Lari ($0.35) per m2 per month, to a maximum of $27 for the larger apartments. Parking here is an additional $10,000 per space.
Hill Home Residence has proven to be so popular with investors that there are very few apartments remaining here now. There is now just a single one-bedroom apartment remaining on the project, which is sized at 59.8m2 and located on the first floor. Those looking for two-bedroom apartments can choose from either compact and highly affordable 69.9m2 apartments or larger apartments around 82.5m2.
All apartments at Hill Home Residence are supplied on a ‘green frame’ basis, which means that they come with bare concrete walls, floors, ceilings, no bathroom, etc. It will cost an additional $250 per m2 to make the interior finishing (not counting the balcony which does not need finishing). To make a one-bedroom apartment ready for renting or living it, buyers should also budget $1,500 for a fitted kitchen and $6,000 for all other furniture.
Now that the interiors of each apartment are complete, there is no payment plan on the project. Buyers will need to pay 100% on contract. This means that interior works can start immediately and so the apartment can be on the rental market in just three month’s time.
The last remaining apartments on this project are unlikely to stay on the market much longer, so buyers need to act quickly in order to buy on this highly prestigious project.
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