How to choose an investment apartment – this is a topical issue for people who wish to make an advantageous investment and obtain guaranteed monthly passive income. Here are 5 criteria that you should take into account:

Most importantly – who is carrying out the construction? Who is the developer?

Choose the apartment in a project that is implemented by a trustworthy and experienced development company. Research the following:

• Company projects that have already been completed
• The financial guarantees with which the project is being implemented
• Since investment apartments are often part of multifunctional complexes, find out if the project includes an international or local hotel brand. This would increase trustworthiness, albeit also increasing the price. Your decision would then depend on the volume of your investment.

Liquidity and Return on Investment

Once you are certain that you are investing in a trustworthy project, it is important that you know the following:

• The annual return on your investment
• Apartment rental terms – will you personally rent it out, or will the company do it for you, and how will the revenues be shared between the parties in the latter case?

Even if you are buying the apartment for yourself, make sure you know the apartment value forecast for the next five years. When buying real estate, always assume that you may wish to sell it at some point in the future – this will help you make the right choice.

Also make sure that you know the monthly costs (security, cleaning, elevator service, etc.) in advance. Add the utility payments and think – are these costs acceptable for you? An important advice for saving on utility bills would be to ensure that the project uses high-quality energy-efficient building materials, which will reduce costs and create a healthy environment. 

Price
Against the background of the pandemic, many construction firms are offering discounts and various other offers. Indeed, all businesses are facing challenges this year, and the real estate sector is no exception.  

Location

Make sure that the project is located in an active tourist area.

Floor, Panoramic Views, Planning
Consider buying an apartment on the third floor or higher. Make sure that at the very least, it overlooks a quiet, green location. Only consider apartments on the second floor if the price is 20-35% lower than on the higher floors. As for the apartment plan, remember that the kitchen must have a window. Ideally, the apartment will have an equal number of bedrooms and bathrooms.

Last but not Least, it is recommended that you examine documents together with a lawyer, to avoid becoming a victim of fraud. It is not worth rushing the purchase of the apartment. Have a look at several similar apartments from different development projects in your desired location. Compare their advantages and faults, and the make the step towards successful investment.

Based on recent studies, visitor numbers in Georgia will reach pre-pandemic levels by 2023. This will directly impact the health and development of investment apartments as one of Georgia’s most successful business propositions.