Mr. Mamuka Makharadze Interview
In this interview with Mr. Makharadze, he highlights why Batumi has become one of Europe’s most compelling real estate markets for foreign investors. Nearly 80% of buyers in 2024 were international, with property values more than doubling since 2018 and rental yields reaching 8–14% outperforming many global hubs.
Batumi is no longer just a summer resort; it has evolved into a year-round investment destination driven by tourism, conferences, cultural events, and digital nomads. Its investor-friendly environment stands out globally: 0% property tax, no capital gains tax, and just 1% tax on registered rental income. Major infrastructure projects including Emaar’s $5.5B marina, airport expansion, and upgraded logistics are strengthening its position as a luxury and business hub.
Through ELT Group, investors gain not just property, but turnkey, future-proof assets backed by trusted delivery, global hospitality partnerships, and consistent returns.
Europe’s Rising Real Estate Hotspot
We started the interview by asking, “Mr. Makharadze, how attractive is Batumi as a real estate investment destination for foreigners right now?”
Mamuka Makharadze replied, “Batumi is today one of the most compelling real estate markets in Europe and the numbers prove it.
Since 2018, property values have nearly doubled (+111%).
In 2024, 79% of buyers were foreign nationals, demonstrating the city’s powerful international appeal.
Average prices per square meter rose 11.4% year-on-year, reaching between $1,800 and $2,400 for turn-key apartments.
Rental yields remain among the highest in the region: 8–10% on average, with premium projects consistently delivering 12–14%.
But the story is bigger than numbers. Batumi has matured beyond being a simple seaside resort today, it is a year-round investment hub. Tourism is no longer confined to the summer months; conferences, cultural events, and digital nomad inflows keep occupancy and rental demand strong all year.
The investment environment is also highly favorable. Foreigners can own property outright with no restrictions, while enjoying 0% property tax and no capital gains tax a rare combination globally. Rental income can be legally registered at just 1% tax, making it one of the most investor-friendly regimes in the world.
Recognition matters, too. Batumi has been repeatedly honored at the World Travel Awards winning titles such as Europe’s Leading Emerging Tourism Destination and Europe’s Leading Beach Destination. These international accolades validate its global reputation and translate directly into strong, sustained visitor inflows. For investors, that means higher occupancy rates, reliable cash flow, and property values that continue to climb.”
Batumi’s Unique Edge over Regional Rivals
The UK Times: Why should investors choose Batumi over other emerging regional markets?
Mamuka Makharadze replied, “Batumi occupies a rare “sweet spot” offering affordability, growth, and long-term stability in one package.
Affordability: Property prices are still 15–20% lower than in Tbilisi, giving foreign buyers attractive entry points.
Residency benefits: With investments starting from $100,000, foreigners can qualify for Georgian residency. This is an additional layer of security and lifestyle flexibility.
Tax incentives: The flat 1% tax on rental income for registered individuals is unmatched regionally.
Lifestyle: Few places offer the same mix of the Black Sea coastline, a vibrant old town, modern marinas, casinos, and scenic mountains all in one city.
At the same time, Batumi is going through an infrastructure transformation:
Emaar’s $5.5 billion marina development is set to make Batumi a luxury hub.
Batumi International Airport is being expanded to handle millions of additional passengers.
New highways and upgraded port facilities strengthen its role as a regional logistics and tourism center.
Tourism is the engine that drives all of this. In 2024, Batumi welcomed over 9 million visitors. Unlike some destinations, Batumi’s tourism is diversified: families, retirees, cultural travelers, digital nomads, and high-spending casino visitors all contribute to demand. Events such as the Batumi International Jazz Festival and international sports tournaments keep the city lively beyond the summer months.
Political and economic stability is another factor. Georgia is pro-European, ranked among the easiest countries in the world for doing business, and enjoys consistent GDP growth — making Batumi both profitable and secure for long-term investors.
“Batumi is affordable, stable, and growing — a rare ‘sweet spot’ for global investors.”
Why ELT Stands Apart in Batumi’s Booming Market
The UK Times: With so many developers in Batumi, why should investors trust ELT Group’s projects specifically?
Mamuka Makharadze replied, “In booming markets, the biggest risk is not demand — it’s the developer. This is where ELT stands apart.
Proven track record: ELT has successfully delivered multiple residential and hotel-type projects in Batumi. Investors can visit these developments today and see the build quality and resident satisfaction for themselves.
Superior build quality: We emphasize modern architecture, durable materials, and thoughtful layouts. This ensures both higher tenant satisfaction and long-term property value appreciation.
Prime locations: ELT carefully selects sites in high-demand zones such as Batumi’s New Boulevard, beachfront areas, and near key urban amenities. Notably, around 60% of residents in New Boulevard are non-locals, creating a dynamic international atmosphere and stronger rental demand.
Global partnerships: Through collaborations with Wyndham Hotels and Barceló Hotels, we integrate global hospitality standards into our projects. This means investors receive hotel-style property management, professional after-sales services, and reliable passive income streams.
In short, ELT doesn’t just sell apartments — we deliver turnkey investment solutions backed by brand trust, international standards, and consistent delivery.”
Where Cash Flow Meets Capital Growth
The UK Times: Financially speaking, what kind of performance can a foreign investor expect from an ELT property?
Mamuka Makharadze replied, “Let’s consider realistic figures for a typical ELT property:
Purchase price: Studios and one-bedroom units usually range from $85,000–$150,000.
Rental income: Annual earnings typically fall between $8,000 and $14,000, depending on location and seasonality.
Yields: This translates into 9–10% gross yields, with 7–8% net yields after management fees — considerably higher than markets like London, Paris, or even Dubai.
Capital appreciation: Over the last decade, Batumi’s prime properties have shown 5–8% annual growth, delivering both income and value appreciation.
For example, an investor who bought a $100,000 apartment in 2019 would now see their property valued at around $145,000 (+45%), while also having earned approximately $10,000 annually in rental income. That’s a combined total return significantly above many established global markets.”
Building Wealth with ELT
Finally we asked, “What is the broader investment thesis for buying into ELT’s projects in Batumi?”
“The broader thesis can be summed up simply: with ELT, you acquire high-yield, low-hassle assets in a market with long-term growth potential.
With us, investors gain: Cash-flow in hard currency (USD): Net yields of 7–8% annually.
Capital growth: Exposure to Georgia’s premier seaside destination, increasingly aligned with EU standards and integration.
Portfolio diversification: A stable, emerging European market outside traditional Western investment zones.
Turn-key management: Professional property management that makes it truly passive for international owners.
Lifestyle benefits: Beyond financial returns, an ELT property doubles as a vacation home in one of the region’s most vibrant and hospitable cities.
“With ELT, you aren’t just buying property — you are securing a future-proof investment.”
Key Metrics at a Glance
Metric Value
Foreign Buyer Share (2024) 79%
Price Growth (2024) +11.4%
Avg. Price per m² (turn-key) $1,800–$2,400
Rental Yields 8–14%
Visitors (2024) 9 million+
Premium Property Growth ~30% YoY
Property Tax 0%
Capital Gains Tax None
Closing Note
Georgia’s macroeconomic fundamentals are among the strongest in the region — with the highest economic growth rates in the South Caucasus, a transparent tax system, and an Association Agreement with the EU that strengthens investor confidence.
Batumi is at the heart of this story. Its unique blend of lifestyle, recognition as an international destination, and consistent profitability make it a rare gem in global real estate. With ELT as a partner, investors are not only buying property — they are investing in a future of stability, growth, and global appeal.” Mamuka Makharadze concluded
Connect with Mamuka Makharadze on LinkedIn
For more information visit ELT Group
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