However, it is precisely high investment activity that creates increased legal risks. In practice, a significant number of problems arise due to the lack of a full legal check of the property and the developer before signing the contract and transferring funds. Why real estate lawyer in Georgia must participate in the transaction to the signed contract, and not after problems arise.

This material is based on a real legal case, Lawyer Tamta Zarnadze successfully protected the interests of clients and achieved return $250,000, paid for the property, which did not exist legally.

Why does the Batumi real estate market require special legal control?

Most transactions in Batumi are related to:

• new buildings and objects under construction;
• investment agreements;
• staged payment;
• promises of profitability or guaranteed rent;
• purchasing “future real estate”.

Without participation real estate lawyer in Batumi such transactions are often concluded without understanding the real legal status of the object.

Real case: $250,000 for a property in Batumi without legal rights

The buyers planned to purchase commercial premises with an area of ​​approximately 260 sq.m in a building under construction in Batumi. The contract was signed at the developer's office, the signatures were certified, and payment was provided in stages.

At the first stage, an advance payment was made in the amount of 50% of the cost - $250,000. From a formal point of view, the transaction looked standard and did not arouse suspicion.

However, after some time:

• construction work was stopped;
• deadlines for fulfilling obligations were not met;
• communication with the developer has become difficult;
• buyers did not receive confirmation of the legal status of the property.

Legal audit of real estate in Bautmi: what was revealed

As part of the legal analysis, it turned out that:

• the seller was not the owner of the land plot;
• the seller did not have registered rights to the building;
• the object could not be legally sold to third parties;
• the agreement was not registered in the Public Register of Georgia.

From the point of view of Georgian legislation, this meant that buyers have not acquired any property rights, despite the amount deposited.

Why registration of a real estate purchase and sale agreement in Batumi is key

In Georgia, ownership of real estate arises exclusively from the moment of state registration in the Public Register.

Even a signed and notarized agreement does not guarantee:

• does not create ownership rights without registration;
• does not protect the buyer in case of a dispute;
• has no legal effect against third parties;
• does not guarantee a refund.

Why did you manage to get your money back for real estate in Batumi?

Legal work was built comprehensively and included:

• qualifying the situation as containing signs of fraud;
• legal pressure using criminal and civil mechanisms;
• negotiations based on evidence of lack of title;
• assessing the risks of a lengthy lawsuit for the seller.

As a result, a strategy was chosen that was aimed not at a formal trial, but at real and fast return of funds.

Result: $250,000 refund without years of trial

Thanks to the established legal position:

• the entire amount of $250 000 was returned to customers;
• the case was settled without protracted litigation;
• the process took about 6 months.

Foreigner victim of real estate fraud in Batumi

Foreign client from Hong Kong I was planning to buy an apartment in Batumi. During the legal review process, it turned out that the property was under a mortgage encumbrance, which the buyer was not informed about in advance. Thanks to the professional assistance of real estate lawyer in Georgia Tamta Zarnadze, all possible risks were promptly identified and explained, which allowed us to avoid the loss of invested funds and protect the client’s investments.

Main risks when buying real estate in Batumi

• lack of ownership rights by the seller;
• unregistered contracts;
• non-transparent terms of investment agreements;
• promises of profitability without legal guarantees;
• payment before legal verification.

Why a real estate lawyer in Batumi is necessary for foreign buyers

Foreign citizens are often unfamiliar with the specifics of Georgian registration and land law, which makes them especially vulnerable.

A real estate lawyer in Batumi performs a key function - prevents loss of funds even before a dispute arises.

Do you need a legal review of real estate in Batumi?

If you are planning to purchase an apartment, apartment or commercial property, legal support before signing the contract is a mandatory element of a safe investment. Call lawyer Tamta Zarnadze and you will have a real estate transaction without financial risks.

Phone / WhatsApp / Viber: +995 593 163 602
Email: tamta.zarnadze@gmail.com
Website: legaltbilisi.com

FAQ on real estate in Batumi:

Do you need a lawyer when buying real estate in Batumi?

Yes. Most transactions in Batumi are related to new buildings and investment projects, which require mandatory legal verification before payment and signing of the contract.

Does a notary guarantee the security of a transaction?

No. The notary certifies signatures, but does not verify ownership, legal status of the object and risks for the buyer.

Is it possible to get money back in case of a problem transaction?

Yes. With the right legal strategy, it is possible to recover funds, including large sums, even without years of litigation.

Do you work with foreign buyers?

Yes. Legal support is provided to foreign clients taking into account the specifics of Georgian legislation.

Сообщение Real estate lawyer in Batumi - how to avoid becoming a victim of scammers появились сначала на GeoInform.

Prices for apartments in new buildings in Batumi increased by 5%

The average price for an apartment in new buildings in Batumi increased by 5%, reaching $945 per square meter, while prices on the secondary market decreased by 6%, the average price being $685 per square meter. This indicates an overheating of the real estate market in Batumi. An investor, buying an apartment in a new building and immediately selling it, loses 27.5% of his investment.

Real estate market activity in Batumi in 2024

The volume of transactions in the primary market decreased by 23%, and in the secondary – by 32%. Which indicates the continuing stagnation of the real estate market in Batumi.

Read also: Stagnation of the Batumi real estate market in autumn 2023

An analysis of the Batumi real estate market in 2023 showed that the average price per square meter of housing in Batumi increased by 20.1% over the year, reaching 1.3 thousand dollars. The majority of sold apartments (42%) are located on the territory of New Boulevard.

This is explained by the fact that 60.1% of transactions are carried out on the primary market, where projects are actively being implemented in this area. According to G&T, the majority of sales come from apartments ranging from 26 to 80 square meters. However, in 2023 the number of transactions decreased by 31% compared to September last year.

The number of apartments sold in Batumi in 2023 was less than in 2022

This follows from a study conducted by the consulting company Galt & Taggart. The decline in sales is due to record high results in 2022 and a decrease in the number of migrants. However, the 2023 figures were almost a third higher than in 2021.

In total, almost 16 thousand transactions were made. Of these, 8.9 thousand were purchased apartments in new buildings, and 6.8 thousand were purchased on the secondary market. The most successful sales were apartments on New Boulevard. However, at the moment, 78% of apartments in buildings whose delivery is planned between 2024 and 2028 have already been sold.

Real estate problems in Batumi

Apartment complexes in the city are often built without parking or with insufficient parking spaces, which exacerbates traffic flow problems. The expansion of multi-storey housing construction leads to an increase in population density in Batumi itself. Some developers have already started construction in neighboring areas such as Makhinjauri and Gonio.

Read also: Rental prices in Georgia fell by almost 30% 2024

There are also problems with population density in Batumi. At the moment, the official population density in Batumi is about 3,000 people per square kilometer. However, this figure is approximate and is likely underestimated due to insufficient statistical control over foreign citizens actually living in the city on a permanent basis.

Problem with commissioning new buildings in Batumi in 2024

The problem with commissioning new buildings in Batumi in 2024. Most new buildings in Batumi do not meet the standards and have not yet been put into operation. The Municipal Inspectorate of the city of Batumi informs that since 2020, 377 applications have been received from developers to put buildings into operation. However, only 90 of them were satisfied. In other cases, various violations were found.

Since the beginning of 2024, the municipal inspection of the city of Batumi has received 10 applications, but to date, 6 of them have been rejected, and 2 applications are still being considered.

Сообщение Demand for real estate in Batumi fell at the beginning of 2024 появились сначала на GeoInform.

Accountant for business in Batumi

The peculiarities of business require a special approach to financial management and an accountant in Batumi. This beautiful city on the Black Sea coast attracts entrepreneurs with its favorable investment climate and diverse development opportunities. However, to get the most out of your business in Batumi, it is necessary to ensure clear and efficient financial management.

Professional accountant in Batumi

An accountant is not just a person who enters numbers into tables. It is the captain of your financial ship who steers the direction of travel and prevents improper accounting and taxation from hitting the rocks. In the context of business in Batumi, where tourism, real estate and other areas are actively developing, a professional accountant becomes an indispensable assistant for successful financial management.

Royal Company – your reliable partner in accounting

When it comes to choosing an accounting company in Batumi, Royalt Company stands out from the competition. Their expert team not only provides accounting and auditing at the highest level, but also provides a range of services aimed at optimizing taxes and financial processes.

The best accountant in Batumi at Royalt Company

By having a quality accountant on board your business in Batumi, you can be confident that your finances are under reliable control. A reliable accounting partner is not only an investment in your business's ongoing operations, but also a strategic step toward long-term success and growth. By working with Royalt Company, you gain a partner who will grow and develop along with your business, ensuring its financial well-being and prosperity.

Read also: Best system administrator in Batumi

When it comes to auditing, the best company in Batumi is Royalt Company. Not only do they have extensive experience in the field of accounting services, but they are also state licensed to conduct tax, financial and other audits, which confirms their qualifications and reliability. The best accountant in Batumi – 593 383 801.

Benefits of working with Royalt Company

By choosing Royalt Company as your accounting partner, you get a number of advantages:

• Professionalism and experience: Royalt Company's team of specialists has deep knowledge in the field of accounting and auditing, which allows them to effectively solve the most complex financial problems.
• Licensed services: Thanks to a license to conduct tax, financial and other audits, you can be sure that your business is under the protection of qualified specialists.
• Individual approach: Royalt Company is always ready to listen to your needs and develop an individual strategy for your business, taking into account all the features and requirements.

Conclusion

The importance of an accountant in Batumi is undeniable. Choosing the right accounting company like Royalt Company can make managing your finances much easier and keeping your business safe. The role of a qualified accountant should not be underestimated, as it is a key success factor in modern business. The best accountant in Batumi – 593 383 801.

Сообщение The best accountant in Batumi появились сначала на GeoInform.

Read also: China's stock market is heading downhill

In commercial banks in Georgia the price for the dollar is 2.69 lari, and for the euro – 2.91 lari. As for currency kiosks, dollars can be bought for 2.66 lari, and euros for 2.86 lari. These data reflect the current situation in the foreign exchange market of Georgia and are a guideline for financial transactions and currency exchange.

Сообщение The lari strengthened against the dollar появились сначала на GeoInform.

Staff at China's top securities regulator have been working around the clock for weeks to try to support China's falling stock market, which lost more than $5 trillion. The official Xinhua News Agency on Wednesday evening announced the removal of Yi Huiman from office, the Communist Party's biggest casualty yet amid financial losses that have undermined confidence in China's economy among international investors.

Read also: China deploys long-range missiles near South Korea

The decision sent shockwaves through the China Securities Regulatory Commission, according to people familiar with the matter. Yi's departure came as a surprise even to senior officials at China's securities regulatory commission, underscoring the alarm within Xi Jinping's government about the crisis, which is now in its fourth year. Instead of Yi, Qing, a close ally of Prime Minister Li Qiang, takes over as the head of the regulator.

The China Securities Commission did not comment on the situation regarding the stock market

China experts note that these actions could be the beginning of new measures to stem the fall of the world's second largest economy. – China stock market. Restrictive measures taken last week failed to restore investor confidence.

“This step has been necessary for a long time. If one manager is not up to the task, it may be time to give another a chance. The new leader can take more decisive action rather than just words” – noted Managing Director of Zhuhai Greenbamboo Private Fund Management Jiang Liangqing.

Expectations for stronger action to stabilize China's stock market grew following Bloomberg's reports of Xi's upcoming market briefing. It is unclear what role Yi played in this.

Read also: Stagnation of the Batumi real estate market in autumn 2023

China's latest measures, including restrictions on short selling and stock purchases by state-owned enterprises, had some impact on the market, helping it rise for three days in a row. However “National team” China bought about 70 billion yuan worth of shares over the past month, which is not enough to fully restore confidence in China's stock market, according to Goldman Sachs Group Inc.

Government intervention could help interrupt the downward trend in the Chinese stock market

“Government intervention could help break the downtrend in China's stock market, but more systemic reforms and policy measures are needed to revalue China's stocks”, – analysts write Goldman Sachs. In the past, regulatory changes at the China Securities Regulatory Commission have caused China's stock market to rise, which may correct the market in this situation as well. But will this change the general trend? – very doubtful.

China's real estate crisis shows no signs of ending

However, major market interventions in China have rarely gone smoothly, and the country's economy faces greater challenges than during previous market downturns: China's real estate crisis shows no sign of ending, geopolitical tensions with the US continue to escalate, and foreign investors are wary of a government that suppresses private enterprise.

However, analysts note that the China Securities Regulatory Commission (CSRC) has limited ability to influence the market. She can't command “national team” or create stabilization funds and is largely dependent on other forces to stimulate economic growth.

China's stock market reflects weak growth and lack of confidence

The change of chairman of the China Securities Regulatory Commission, although a significant event, does not fundamentally change anything, economists say. As a result, China's stock market reflects weak growth and lack of confidence. Unless Beijing addresses these fundamental issues, the stock market is likely to continue to struggle.

Read also: Transfers from Russia to Georgia decreased by 5 times

Now the 58-year-old new chairman of the China Securities Regulatory Commission, Wu, faces a difficult task. He was appointed after serving as an adviser to the deputy party secretary in Shanghai and worked closely with Premier Li. Wu has extensive experience in financial regulation and is known as a man who strives for law and order.

The benchmark CSI 300 index has risen more than 40% in nearly two years since Liu Shiyu succeeded Xiao Gang in 2016. The rate jumped more than 80% in the two years after Liu was removed from office by Yi in 2019.

How to stabilize China's stock market?

While Wu's appointment may calm investors' nerves in the short term, addressing fundamental issues will require greater political effort to stabilize China's stock market. But it is unclear how the Chinese Communist Party will behave towards investors. This is precisely the basis of this crisis on the Chinese stock exchange.

Read also: BMW and VW are scaling back their ambitions in the electric vehicle market

Сообщение China's stock market is heading downhill появились сначала на GeoInform.

According to the explanatory note to the bill, one of the main problems in regulating domestic passenger transport is the unfavorable situation at bus stations and illegal transport carried out by unregistered persons, the so-called “predators”, who often offer their services in minivan-type transport, bypassing official bus stations.

Read also: A hot air balloon crashed in Asureti and there were dead

Currently, in 34 of the 63 municipalities the average number of taxis is 40 units, in 18 municipalities - 100 units, in 4 municipalities - 200 units and in 7 municipalities - more than 400 units.

In accordance with the bill, the organization and control of the transportation of passengers by taxi in municipalities will be entrusted to the mayor, a structural unit under the mayor's office or a legal entity separately created by the municipality. The authority to issue taxi licenses in Georgia will be granted to the mayor or an authorized structural unit of the mayor's office.

A license for a taxi in Georgia will be issued for a period of at least one year

In accordance with the Law of Georgia “On Road Transport”, a license for a taxi in Georgia will be issued for a period of at least one year. The City Council will have the power to set license expiration dates.

Violation of taxi license conditions - fine of 100 GEL

Illegal provision of taxi services will entail a fine of 200 GEL, and violation of license conditions will result in a fine of 100 GEL. The Ministry of Internal Affairs will monitor compliance with licensing requirements.

Read also: How prices have changed in Georgia in 2023

If the bill is passed local municipalities of Georgia (except for Tbilisi), a period of until June 1, 2025 will be given to enter information about license holders into a unified taxi database in Georgia, the rules for the creation, updating and processing of which will be approved by the Government of Georgia before January 1, 2025.

A taxi license in Georgia will cost 100 lari

The fee for obtaining a license for one year is likely to be 100 GEL. These funds will be credited to the municipal budget. According to the authors of the bill, the total income from licenses in the first year of introduction will be 488 thousand lari, and in the period from 2025 to 2033 - approximately 4,392,000 lari. Administrative costs associated with the implementation of the system by 2025 are estimated at GEL 1,378,598.

Read also: Rental prices in Georgia fell by almost 30% 2024

Сообщение Mandatory licenses for taxis in Georgia появились сначала на GeoInform.

Даже такие автопроизводители, как Audi и VW, сокращают свои амбиции на рынке электромобилей. На новогоднем приеме ассоциации автомобильной промышленности в Берлине министр транспорта Германии Фолькер Виссинг подчеркнул важность “technological openness” для сокращения выбросов от автопрома. Однако прогноз падения спроса на электромобили ведет к тревоге среди политиков и руководителей отрасли.

Read also: How prices have changed in Georgia in 2023

BMW CEO Oliver Zipse, who has long supported a flexible strategy to produce cars with different engine types, now sees his cautious strategy in a less favorable light. With EV adoption slowing and demand for plug-in hybrids reviving, his approach appears smarter, despite criticism for not doing enough to challenge the EV leaderTesla Inc.

Demand for electric vehicles in Germany in 2024 has become a concern

Demand for electric vehicles in Germany in 2024 has become a concern. The upper end of the electric vehicle market is saturated, while the lower end suffers from a lack of offers in the price category up to 25,000 euros, says Jan Burgard, head of the automotive consultancy Berills Strategy Advisors.

Read also: Tourists in Japan bring Instagrammers and trash

After several years of rapid growth in electric vehicle sales, it has become increasingly difficult to market electric vehicles. A lack of proper government incentives for EV manufacturers in Europe and reduced support in the US mean demand for EVs is declining. Despite the emergence of new models and leasing options, charging infrastructure and high prices remain barriers to widespread adoption of electric vehicles.

In Germany, demand for electric vehicles is expected to decline by 14%

Sales of electric vehicles are expected to fall by 14% in Germany due to the removal of government subsidies, the first decline since 2016, according to lobby group VDA. At the same time, the world is seeing a general decline in forecasts as electric vehicles remain less affordable compared to similar models with internal combustion engines, despite the price war started by Tesla.

Transport Minister Volker Wissing in his remarks drew attention to the importance of developing charging infrastructure to support the electric vehicle market in Germany, emphasizing the importance of this aspect for the future development of the industry.

Read also: Prices for utilities in Georgia in 2024

Berlin is lagging behind amid ambitious plans to develop charging infrastructure for electric vehicles. Although Transport Minister Volker Wissing has announced plans to invest €6.3 billion in nationwide infrastructure by 2030, implementation of the plan has been slower than expected. By September last year there were only about 105,000 operational public charging stations in Germany, far from the stated target.

Germany will have to significantly increase the pace of installation of charging stations

Germany will have to significantly increase the pace of installation of charging stations if it wants to reach its EV target by 2030, according to the VDA. However, the question remains as to who will pay for this infrastructure.

At the VDA event, politicians and auto industry representatives acknowledged that charging charges are key to stimulating interest in electric vehicles, but the question of who should bear the financial cost of expanding infrastructure remained unresolved. According to analysts Deutsche Bank, rising electricity prices have further reduced demand for electric vehicles.

Germany expects first drop in electric vehicle sales in eight years

Forecasts show Germany is set to see its first fall in electric vehicle sales in eight years, with deliveries of all-electric vehicles slumping by 14% in 2024. This threatens the government's ambitious goal of putting 15 million electric vehicles on the road by 2030.

Read also: Stagnation of the Batumi real estate market in autumn 2023

As of November, only 2% of all cars on German roads were fully electric. Automakers including Volkswagen Audi are responding to the slowdown in electric vehicle growth by cutting EV lineups and backtracking on some plans.

A long-term decline in electric vehicle sales could undermine investment in the industry.

Difficulties in EV adoption could lead to a long-term decline in EV sales, undermining investment in the industry and creating challenges to complying with emissions regulations. At the same time, delaying the transition to electric vehicles encourages drivers to use their old cars longer, which does not improve the environmental situation.

BMW chief Oliver Zipse has raised concerns about the availability of charging infrastructure in a few years' time, highlighting the challenges facing the electric vehicle industry.

Сообщение BMW and VW are scaling back their ambitions in the electric vehicle market появились сначала на GeoInform.

In Georgia prices have increased in 2023:

• In 2023, prices for hotels, cafes and restaurants in Georgia increased by 5.9%.
• Education prices increased by 3.5%.
• In Georgia, prices for tobacco and alcohol increased by 3.5%.
• Prices for public transport in Georgia increased by 4.3%.

Read also: Georgia increases imports of Brazilian meat

In 2023 prices fell in Georgia:

• in Georgia, prices for furniture and household items fell by 4.3%,
• in Georgia, healthcare prices fell by 3.3%,
• In 2023, prices for recreation and entertainment fell by 2.4% in Georgia,
• In 2023, food and beverage prices fell by 2.4%,
• In Georgia, Communication prices fell by 2.2%,
• in Georgia, prices for utilities fell by 1.8%,

Dynamics of food prices in Georgia in 2023

Read also: Prices for utilities in Georgia in 2024

In Georgia, food prices will increase in 2023:

• In Georgia, fruit prices increased by 19.7%,
• In 2023, Meat prices in Georgia increased by 6.1%,
• Water and soft drinks have also increased in price – 2,9%,
• Sugar and sweets prices increased by 2.7% in Georgia,
• In Georgia, Fish prices increased by 1.9%,
• In 2023, coffee and tea prices in Georgia increased by 1.3%,

Read also: Analysis of the Batumi real estate market 2023

Food prices in Georgia have fallen in 2023:

• Oil prices fell by 15.9% in Georgia,
• Prices for Vegetables and melons fell by 11.3%,
• In Georgia, prices for Butter and Bread fell by 9%,
• In Georgia, prices for Milk, cheese, eggs fell by 4.1%,

These data reflect price dynamics in Georgia and can be useful for analyzing the current economic state of the country.

Сообщение How prices have changed in Georgia in 2023 появились сначала на GeoInform.

Top 3 countries – tourists to Georgia:

1. Russia (23.2% of total visitors)
2. Turkey (21,4%)
3. Armenia (13,5%)

Read also: Rental prices in Georgia fell by almost 30% 2024

More than half of all tourist visits (52.3%) were related to recreation and entertainment, with Tbilisi and Adjara becoming the most popular destinations, attracting with their beautiful landscapes and rich cultural heritage.

Top 5 tourist destinations in Georgia:

• Tbilisi
• Adjara
• Svaneti
• Kakheti
• Racha

In total, visiting tourists spent 12.9 billion lari in Georgia, which is 20.5% more than the previous year. However, the average expenditure of tourists in Georgia for their stay in the country decreased by 8% and amounted to 2097.4 lari.

In addition, Georgia continues to attract tourists with its variety of attractions and unique cultural opportunities. In addition to Tbilisi and Adjara, popular tourist destinations such as Mtskheta, with its historical monuments and ancient temples, and Svaneti, with its picturesque mountain landscapes and medieval towers, remain high among visitors.

Kakheti region attracts foreign tourists in Georgia

The Kakheti region attracts wine lovers, offering the opportunity to taste local wines and visit cozy wineries. The resorts of Gudauri and Bakuriani are becoming increasingly popular among outdoor enthusiasts, offering opportunities for winter sports, as well as hiking and cycling in the summer.

Read also: Transfers from Russia to Georgia decreased by 5 times

It should be noted that the growing interest in Georgia as a tourist destination indicates the attractiveness of its cultural heritage, natural wealth and hospitality of the local people. At the same time, increasing tourist flow requires further development of infrastructure and support for the tourism industry to ensure a comfortable and safe stay for visitors.

This indicator indicates more economical preferences of tourists in Georgia, possibly related to changes in their consumer behavior or an increase in the supply of more affordable accommodation and services in Georgia.

Сообщение 7 million tourists visited Georgia in 2023 появились сначала на GeoInform.

For comparison, in 2022, meat worth $57.5 million was imported from Brazil to Georgia, in 2021 – $36.7 million, and in 2020 – $33.8 million. This significant increase shows the growing demand of the Georgian market for Brazilian meat.

Read also: Rental prices in Georgia fell by almost 30% 2024

It is noted that the total volume of imports of meat and meat by-products to Georgia in 2023 amounted to $193.2 million, which is also a record figure in recent years.

Top 5 countries exporting meat and offal to Georgia in 2023:

1. Brazil: $81.6 million (42%)
2. China: $18.4 million (9.5%)
3. Turkey: $17.8 million (9.2%)
4. Ukraine: $12.7 million (6.5%)
5. The Netherlands: $11.8 million (6.1%)

These figures indicate a growing diversity of sources of meat imports into Georgia and a focus on Brazilian supplies as the most significant supplier.

Read also: Prices for utilities in Georgia 2024

Сообщение Georgia increases imports of Brazilian meat появились сначала на GeoInform.