Mountain View Apartment in Batumi, Georgia only 120 meters from the Black Seat Coast.
The Apartment will be delivered on the Turn-key condition.
The project completion on March 2022
Why to invest in hotel apartment in Batumi
1- Low Competition
According to a study conducted in 2019 by TBC, one of Georgia’s two largest banks, residential construction accounts for 80% of new building in Batumi, with hotels accounting for 15%. Over 35,000 flats were added to Batumi’s market supply between 2014 and 2019, with an additional 1,235,000 square meters in 130 residential developments planned to be produced in 2019-2021.
Despite the popularity of Airbnb, research reveals that foreign tourists are more likely to book a hotel (48%) than an apartment (34 percent ). And the proportion of overnight stays spent in hotels is increasing.
Now, while Batumi was one of Airbnb’s hot destinations in 2019, AirDNA reveals an annual average occupancy of just 27% (with a peak of 48 percent in August and a low of 7% in October), and this is among 4,878 listings that received any reservations at all.
2- High Rental Yields
According to TBC Capital research, the increasing availability of rental units has resulted in a modest but consistent drop in rental returns over the last three years. According to PMCG’s 2019 hospitality industry analysis, Batumi flats or aparthotels rent for between 50 and 100 Georgian Lari per night, whilst a hotel room in Batumi costs between 137 and 384 GEL per night.
The same proof may be seen in our own data. We’ve observed a sharp and continuous drop from an average nightly cost of $76.90 in August 2018, to an average of $55.90 in August 2019, and $45 in August 2020. Despite our high occupancy and above-average rates, our rental flats have a profit margin that is substantially lower than what we expect for our hotels. This is partly due to the fact that hotels require far fewer operating expenditures to function efficiently in terms of management.
Type: Apartment For Sale
Bed Rooms: 1
Area: 32.2 SQM
Guest Room: 0
Year Built: 2021
Terms: 48 months installments
Shop: 300 Meters
Tourist Area: 200 Meters
Beach: 120 Meters
Airport: 1 KM