Georgia — Property: Buying Process

Why this matters

Understanding the buying process in Georgia is crucial for relocating individuals and investors, as it affects the feasibility and risks associated with purchasing a property.

Key facts

• Registration of a change, origin or termination of the right to immovable property costs 150 GEL in 4 working days, 270 GEL in 1 working day or 350 GEL on the day of filing.
• Registering a mortgage or other obligation tied to an ownership right has the same fees and timings.
• Confirmation of signatures on a transaction submitted for registration costs 7 GEL and is done immediately.
• Mortgage certificates, changes and registered legal notes cost 75 GEL within 3 working days.
• The Smart Contract service lets buyer and seller complete a purchase (with or without a mortgage) in a remote video session of about 15 minutes, with AI-based identity checks; both must attend in person and power-of-attorney representatives are not allowed.
• The Smart Contract service is for Georgian citizens with a valid Georgian ID card or passport, so a foreign buyer cannot use it according to that FAQ.
• Smart Contract payment runs through escrow at Bank of Georgia in lari only (35 GEL); funds are released to the seller once the buyer's ownership is registered, or returned to the buyer if registration fails.
• These pages do not describe the earlier steps of a purchase (offer, due diligence) or taxes on purchase.

Steps

1. Step 1: Research and Choose a Property — Identify a property that meets individual needs, research local market trends, and verify ownership and any outstanding debts or liens on the property.
2. Step 2: Engage a Real Estate Agent or Attorney — Secure the services of a licensed real estate agent or attorney familiar with the Georgian property market and buying process to guide the transaction.
3. Step 3: Due Diligence and Inspection — Conduct thorough research on the property, including reviewing documents, inspecting the property, and verifying its value and condition.
4. Step 4: Make an Offer and Negotiate — Submit an offer on the property, negotiate the terms of the sale, and finalize the agreement with the seller.
5. Step 5: Register Property Ownership — Work with the real estate agent or attorney to register the property ownership with the Georgian public registry.

Costs

• Registration, 4 working days: 150 GEL
• Registration, 1 working day: 270 GEL
• Registration, same day: 350 GEL
• Smart Contract escrow: 35 GEL

Timelines

• Registration of right: 4 working days / 1 working day / same day
• Smart Contract session: About 15 minutes