Can one $150,000 purchase be both an investment and a residence permit?
Yes, if it is planned for both from the start. To support a residence permit, the property must be valued by an accredited valuer at more than $150,000, and agricultural land does not count, so the purchase has to clear that line with room to spare. At the same time it should earn a fair rent and remain easy to sell. At July 2026 averages, $150,000 buys about 105 m² of new-build space at the Tbilisi average, about 87 m² in Saburtalo, about 47 m² in Vake, or about 83 m² of a finished flat in Batumi's New Boulevard area. The investment choice is between a large flat in an established district, a smaller flat in a prestige district, or a seaside flat, and each earns a different gross yield, from about 5% to about 8%.
The rules for the permit itself are explained in our guides to the $150,000 threshold and to accredited valuation. This page looks at the purchase as an investment.
Two goals, one purchase
| Question | For the residence permit | For the investment |
|---|---|---|
| What matters about the value? | A valuation above $150,000 | A price that the rent and a future buyer justify |
| Whose name? | Registered to you personally | Any structure that suits tax and exit |
| How many properties? | One property clearly above the line is the safe route | One or several |
| What type? | Any immovable property except agricultural land | Whatever earns and resells best |
| When to sell? | Selling can end the basis for the permit | When the market and your plans suit |
Most of the time the two goals point the same way: a well-located, well-documented flat in a good building is easier to value, let and sell. They can pull apart at the edges. A cheap price per m² in a distant district buys a large flat that clears the line on paper but has fewer buyers later; an expensive small flat in a prestige district values well but earns a lower yield. Having more than one property is not a substitute for clearing the threshold with one, because adding values together has not been confirmed in practice; see our page on two or more properties.
What $150,000 to $200,000 buys
| Location | Average price, $ per m² | $150,000 | $200,000 |
|---|---|---|---|
| Tbilisi average | 1,426 | about 105 m² | about 140 m² |
| Krtsanisi | 1,671 | about 90 m² | about 120 m² |
| Saburtalo | 1,732 | about 87 m² | about 115 m² |
| Mtatsminda | 2,945 | about 51 m² | about 68 m² |
| Vake | 3,180 | about 47 m² | about 63 m² |
| Batumi, New Boulevard area | 1,800 | about 83 m² | about 111 m² |
| Old Batumi | 3,239 | about 46 m² | about 62 m² |
At the Tbilisi average, $150,000 already buys a large family flat; in Vake or Old Batumi it buys a one-bedroom flat. Remember that Tbilisi averages are for unfinished white-frame flats, so finishing comes on top, and that a valuer values the specific unit in its specific building, not the district average.
Why to leave a margin
A price of exactly $150,000 is not enough: the valuation must be higher than $150,000, and a valuation can come in below the price you paid. The valuer looks at comparable sales, the building, the floor, the condition and the documents, and the figure is converted between dollars and lari. In our view, a purchase planned for the permit should aim for a valuation comfortably above the line, for example by buying a property whose comparable sales are clearly higher than $150,000 rather than one priced just above it. Finishing a white-frame flat before the valuation can also raise its value, and the finishing costs money you need to budget for. Our page on what happens if the value falls or you sell explains the risks after the permit is granted.
To be added by the team: the partner lawyer and an accredited valuer to confirm how far above $150,000 a valuation typically needs to be to give a safe margin, and how the dollar threshold is applied to a valuation in lari.
Three ways to invest $150,000 with a permit in mind
| Strategy | Size for $150,000 | Monthly rent | Gross yield |
|---|---|---|---|
| Large flat, Saburtalo | 87 m² | $992 | 7.9% |
| Large flat, Krtsanisi | 90 m² | $972 | 7.8% |
| Prestige flat, Vake | 47 m² | $710 | 5.7% |
| Prestige flat, Mtatsminda | 51 m² | $663 | 5.3% |
| Seaside flat, Batumi New Boulevard area | 83 m² | $1,021 | 8.2% |
- A large flat in an established district. Saburtalo and Krtsanisi offer family-size flats near schools, universities and the metro, let to local tenants all year. District rent averages are measured on flats of 50-60 m², and large flats usually rent for less per m², so treat the yield as an upper estimate.
- A smaller flat in a prestige district. Vake and Mtatsminda have the highest rents per m² and the fewest new permits, which supports values, but the yield is lower. They suit an owner who will live in the flat part of the year or let it to expatriate tenants.
- A seaside flat in Batumi. A finished flat in the New Boulevard area combines summer use, short stays and long lets in the off season. Batumi's buyers are more international, which helps resale in good years and narrows it in bad ones.
A worked example: $190,000 in all
Consider a buyer with $190,000 to spend in total who wants a permit and a let flat. Two routes show how the same money divides.
| Item | Saburtalo, 95 m² white frame | Batumi New Boulevard area, 90 m² turnkey |
|---|---|---|
| Price | $164,540 | $162,000 |
| Finishing | About $23,750 | None |
| Left for furniture, fees, valuation and reserve | About $1,710 | About $28,000 |
| Rent at the district average | About $1,083 a month | About $1,107 a month |
The Saburtalo route spends almost everything on the flat and its finishing, which leaves too little for furniture, fees and a reserve; in practice the buyer would choose a slightly smaller flat. The Batumi route is finished on purchase and leaves money for furniture and costs, but its tenants and buyers are more seasonal and international. In both cases the price is well above $150,000, which gives the valuation room, and in both cases the rent per m² for a flat of this size is likely to be below the district average used here, which is measured on flats of 50-60 m².
Questions to settle before buying
- Will you live in the flat, let it, or both? The answer decides the district and the size.
- How long do you need the permit? A long plan favours a flat you will want to keep.
- Who will buy it from you? Local families, investors or foreign buyers, and how many of them.
- Is the building finished and registered? A valuation needs a property that can be valued and registered to you.
- What happens if the valuation is lower than expected? Know before signing whether you could still proceed.
The full budget
Plan for more than the price. On top of the purchase come the valuation for the permit, the state fee and documents for the application, registration and legal fees for the purchase, finishing if the flat is unfinished, furniture if you will let it, and a reserve. Our residence permit fees page lists the official charges, and the buying cost calculator adds up the purchase costs. A sensible total budget for a permit-ready purchase is therefore noticeably above $150,000.
How many people use this route
The property route is a small part of Georgia's residence permits. In February 2026 the Prime Minister told Parliament that 107,307 foreigners held residence permits; according to a news report of the same session, 4,827 of them held short-term permits based on property, almost all granted under the earlier $100,000 rule. Applications are refused when the documents or the value do not meet the requirements: figures republished by an agency for Russian citizens between March 2022 and March 2023 showed 49% of property-based applications rejected. These are old figures for one nationality under the previous threshold, but they show that a permit is not automatic. Our page on refused applications covers the common reasons.
Planning the exit
A property bought for a permit is still an investment you will one day sell or pass on. Before buying, think about who will buy it from you: a local family in Saburtalo, an investor in Batumi, or an expatriate tenant's employer in Vake. Selling the property can remove the basis for your permit, so plan the timing of a sale around your residence plans, and keep the valuation, purchase and registration documents together for the next owner.
How to plan a $150,000 purchase with a permit in mind
Set the budget above the line
Allow for a valuation clearly above $150,000 plus all costs and a reserve.
Choose the strategy
A large family flat, a prestige flat or a seaside flat, depending on how you will use and let it.
Check comparable sales
Recent registered sales of similar flats in the same building or street, before agreeing a price.
Buy a registered, documented property
The permit relies on a property registered to you, so the paperwork must be clean.
Order the valuation
From an accredited valuer, and read it before filing the application.
Let it and keep the file
Rent, receipts, valuation and permit documents in one place for renewals and resale.
Risks and exceptions
- Valuation below the line. The price paid does not decide the permit; the valuation does.
- Combining not confirmed. Two cheaper properties may not count together.
- Lower yields in prestige districts. About 5% to 6% gross in Vake and Mtatsminda.
- Selling affects the permit. Plan sales around your residence plans.
- Refusals. Incomplete documents or a weak valuation lead to rejection.
Frequently asked questions
Is $150,000 enough for a residence permit?
Only if the accredited valuation is above $150,000; exactly $150,000 is not enough.
What does $150,000 buy in Tbilisi?
About 105 m² at the city average, 87 m² in Saburtalo or 47 m² in Vake.
Which strategy earns most?
On our figures, a Batumi seaside flat or a large flat in Saburtalo, at about 8% gross.
Can I buy two cheaper flats instead?
Combining values is not confirmed; one property clearly above the line is safer.
Can I let the flat while holding the permit?
Check your letting plans against the permit conditions with a lawyer before you sign a lease.
How much margin should I leave?
Enough that comparable sales are clearly above $150,000; a valuer can advise.
How many people hold property-based permits?
4,827 in February 2026, according to a report of the Prime Minister's statement.
What happens if I sell?
The property may no longer support the permit; see our page on selling.
Sources
- Law of Georgia on the Legal Status of Aliens and Stateless Persons (Article 15), Legislative Herald of Georgia (accessed 19 October 2026)
- Tbilisi Residential Real Estate, July 2026, Galt & Taggart (accessed 19 October 2026)
- Batumi Residential Real Estate, 2Q26 Overview, Galt & Taggart (accessed 19 October 2026)
- Interpellation of the Prime Minister in Parliament, Parliament of Georgia, 18 February 2026 (accessed 19 October 2026)
- Prime Minister on residence permits by type, FrontNews, 18 February 2026 (accessed 19 October 2026)
- Residence permits for Russian citizens, 2022-2023 (agency republication of official data), PB Services (accessed 19 October 2026)
Change log
- - Guide published from the Aliens Law, Galt & Taggart prices and rents, and permit figures reported from Parliament in February 2026.