Do you think about investment into Real Estate in Georgia but not sure what and where to buy? What is going to be the best decision in terms of Return on investments?
The first rule of real estate – LOCATION, LOCATION and LOCATION. But what makes the location truly great? We considered the best neighborhoods in Tbilisi based on the following factors: Safety, Easy access to public transport, Walkability, Character, Outdoor activities abound and, of course, high possibility to rent it out.
Property in these Tbilisi neighborhoods is the most demandable in terms of rent that makes them a relatively risk-free area in terms of investment into Real estate in Georgia. But you need to remember and pay attention to additional points:
- Tbilisi is not a flat city having up and downhills. And some streets even in the central neighborhoods can be hardly accessible.
- Choosing the neighborhood, you should identify a clear purpose: short-term rent-out to tourists, long-term rent out, or for yourself to live. Why is it important? How many people choose to live in a tourist zone with noisy streets and higher prices? Think about potential tenants’ needs and choose the location replying their needs
- There are not many new buildings in Old Tbilisi neighborhoods, and you need to be ready to buy the property in old buildings. The pros that most of these buildings and properties have their bright character and it will be great deal for daily rent-out to tourists
Now, let’s review Tbilisi neighborhoods in detail:
Vera
is in the central location of the city at the north of the Old Town, just past Rustaveli metro station. This is a green neighborhood in a central location of the city with numerous gardens and green hidden yards. Most of it is nestled into a hillside; therefore, you’ll be walking lots of hills if you live or stay here. So, you need to note this choosing the street to purchase the flat.
Vake
used to be a district where the Georgian elite, politicians, and scientists lived. Today it is a a fancy neighborhood, with posh cafés and bars, shops, and high-priced accommodation options. Besides residential buildings, there are several universities, schools, business center and a lot of expats choose this neighborhood to live. In terms of connectivity to the rest of the city, it’s quite close to Rustaveli Avenue and has a lot of buses/minibuses you can take to any destination. The district doesn’t have a metro.
Saburtalo
is the largest and one of the city’s most easily accessible neighborhoods. The district even has a special metro line – Saburtalo. It’s a typical residential area with lots of grocery stores, universities, and a somewhat decent number of restaurants and shops. Perfect for: Families, young entrepreneurs, students, outdoor lovers (Hippodrome Park is within the walking distance). There are several small and big parks in the area; the favorite spot for locals is Lisi Lake, where you can get away from the bustle of the district.
Abanotubani
this is the very center of the city, featuring all the iconic and historical sights of Tbilisi. Boasting modern and ancient architecture, the area is quite gorgeous and charming, especially with the dome-shaped rooftops of the sulfur baths. From here, all the central parts of the city are within walking distance, especially Freedom Square with its metro station and Rustaveli Avenue. So, in terms of connectivity this neighborhood is perfect. Depending on who you ask, this neighborhood is either the heart of Tbilisi City or a stress-inducing tourist trap.
Sololaki
This friendly neighborhood is composed of narrow streets, historical buildings, ethnic pubs and sidewalk authentic cafes inviting you to indulge in a glass of wine. Easily walkable and cozily quaint, Sololaki faces no competition when it comes to cool hotspots. Perfect for: Young urban professionals, entrepreneurs, artists, nightlife lovers, backpackers.
Mtatsminda
is one of the biggest districts of Tbilisi. Its streets were the place that the modern Georgian capital was created back in the day. Named after the mountain Mtatsminda, one of the key sights of the city, the neighborhood offers a glimpse of the old Georgian residential districts. When you get to Rustaveli Avenue, start your walk uphill and wander through its steep climbs all the way to the Funicular. Even though the area is not touristy, the prices for the accommodation can be a bit high because of its proximity to the city center.
Avlabari
is one of the oldest parts of the capital, famous for the Metekhi Church, Holy Trinity Cathedral, and Armenian Theater. Historically, the area was inhabited by Armenians, making this part of the city quite unique. The district is more residential and less touristy, yet very close to the city center. There’s a good connection via public transportation by metro, minibus, and bus.
Marjanishvili
The Marjanishvili area is getting more and more popular among tourists visiting the city. The newly renovated Aghmashenebeli street offers a glimpse of gorgeous architectural examples of the city, while the beginning of the avenue has been turned into a pedestrian street full of bars, cafés, wine bars, and souvenir shops. The railway station, farmers market, and open-air bazaar are also located in the neighborhood. It also has metro and minibuses connecting the neighborhood with the rest part of the city.
Regardless of which neighborhood you see yourself in, the city is dense-just over 726 km² so you or your tenants will always be able to explore other parts of the city easily.
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