Average prices for buying and renting apartments in Batumi in 2022
Real estate market experts have analyzed the average prices for buying and renting apartments in Batumi in the fall of 2022. Batumi is one of the main seaside resorts in Georgia. The experts also determined the average annual yield from renting apartments for long-term rent. Profitability indicators turned out to be quite good in all areas of Batumi, but there are certain nuances.
Average prices for renting and buying apartments in Batumi as of autumn 2022
|Districts of Batumi||Average price of an apartment in US dollars for autumn 2022||Average apartment rental price||Annual income from renting an apartment|
|Old Batumi||€36 400||€490||16.22%|
Studios remain the most profitable rental property. One-room and two-room apartments bring less profitability. There are a huge number of studios in Batumi. If you want to make money by reselling the studio, you will probably face a lot of competition, due to which you will have to reduce prices.
Profitability from renting out an apartment does not take into account additional costs for the purchase and maintenance of real estate. Therefore, the net yield will be a few percent lower.
Yield rates are indicated for long-term rentals, which are in high demand in Batumi today. In the future, the situation may change, as immigrants can leave at any time. During the holiday season, the apartment can be rented out to tourists.