Business Political Insights BPI.GE
TBILISI(BPI)- The world’s influential business magazine Forbes named the best European cities to invest in for 2020. The publication sought to identify which of Europe’s fastest growing cities, with an enabling environment for investment.
The publication named 7 cities and it’s worth mentioning that Georgian Batumi is among them .
“This port town is the third largest city in Georgia and home to the popular Black Sea Resort. At the moment there are no height restrictions on new buildings so developers and buyers alike are maximizing on the opportunity. According to data from Batumi Expert, new construction homes cost approximately $37 per square foot and the majority of buyers in this city are from overseas. An estimated 22,752 homes (including single-family and condos) were built over 2018 to 2019 as a response to the increased demand.
“With plenty of land available in Batumi and little restriction on development, new projects are popping up in the city to cater for the uplift in demand,” said Dietz. “Investors, also from neighboring Turkey, are attracted to the 2,000-year history and culture as well as the favorable prices compared to other more well-known European coastal hubs,’’- the edition writes.
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