New-build vs resale in Georgia: frame states, developer risk and real cost

In Georgia the new-build versus resale question is less about age and more about three things: what condition the flat is handed over in, who stands behind completion, and what you inherit with the building. The market is open to foreign buyers on a freehold basis for residential property, so the decision comes down to risk and total cost rather than eligibility.

What counts as new-build

Two different products hide under the same label. A completed new apartment bought from a developer behaves much like a resale with a clean history. An off-plan unit is a different transaction: since a purchase agreement cannot be signed for a flat that does not exist yet, buyers sign a pre-purchase agreement that sets the construction stages, the payment schedule and the conditions for the final agreement. Title passes only once the building is complete and the final agreement is signed, and ownership is created only on registration with the National Agency of Public Registry (NAPR).

Handover condition: black frame, white frame, turnkey

Georgian developers sell new flats in different states of finish, and the label decides your real budget:

• black frame: the structural shell, so you plan and build the interior from scratch
• white frame: the heavy, dirty work is already done by the developer, such as floor screed, wiring, wall alignment and prepared heating pipes, leaving finishing and furniture to you
• turnkey: fully renovated and equipped, ready to move into

Some developers also use the term green frame for an intermediate finishing stage, but usage is not uniform across projects. Do not rely on the label alone: ask for the list of works included in writing and price the missing work yourself before comparing with a finished resale flat.

Developer risk is the real difference

Legal commentary from a Tbilisi law firm states that real estate development projects in Georgia are not regulated in the way buyers from other countries may expect, and that if a developer breaches its obligations there is often little a buyer can do. Delays are common and bankruptcy or abandonment is possible. The same commentary suggests choosing a developer whose project finishing does not depend on selling the units, ideally one that secures its financing from a reputable bank, and not financing a developer personally.

Practical consequences:

• check the developer and the project history before the building, using the public registry, the business register and buyer groups
• insist on a written completion date with a real penalty for delay
• pay the company account, never an individual
• confirm whether the project has a bank behind it and ask what happens to your payments if sales stall

Resale: older Tbilisi stock, Soviet-era blocks and recent flats

A resale flat has no completion risk, but it has a history. Older buildings typically bring questions about the condition of structure, roof, staircase and lifts, the state of shared utilities, unrecorded alterations and merged rooms, and how the building is managed. A seller can show you the actual flat, the actual neighbours and the actual service charges, which an off-plan buyer cannot. The step-by-step vetting of title, encumbrances, tenants and debts is covered in our Georgia resale checklist.

Price and market context

According to a 2025 market guide, new apartments in Batumi start from roughly 1,100 to 1,300 dollars per square metre, while new builds in central Tbilisi districts such as Vake, Vera and Saburtalo range from roughly 1,200 to 2,500 dollars, and Tbilisi accounts for about 72% of transactions against around 20% for Batumi. Treat these as indicative, not as quotes. The same guide notes that Batumi is strongly seasonal and that the growing number of completed complexes competes for tenants, so vacancy risk is higher there. A new flat that looks cheaper per square metre may need furnishing and finishing that a turnkey resale already has.

Costs and rules to know

• registration with NAPR is reported to cost roughly 150 to 350 GEL and to take from the same day to about four business days; confirm the current fee for your service type on the NAPR site
• foreign buyers can own residential property freehold, but agricultural land is not open to foreigners
• on a later sale, one legal guide reports that holding a residential property for at least two years means no income tax on the gain, with a reduced 5% rate before that; this comes from a single source, so confirm it with a Georgian tax adviser before relying on it
• ask the developer whether the quoted price includes VAT and what other charges apply at handover; we have not verified a single rule for this

How to decide

• choose a completed new-build from an established developer if you want a clean, modern building and minimal renovation
• consider off-plan only if you accept developer risk, can verify the financing, and have a contract with a real delay penalty
• choose resale if you want to see the real flat, building and neighbours, and are ready for a title check and possible renovation
• compare black frame, white frame and turnkey on the total cost after finishing, not on the headline price per square metre
• for rental income, check demand in the specific building and district, especially in Batumi

FAQ

Can foreigners buy new-build flats in Georgia? Yes, residential property is available on a freehold basis, though agricultural land is not. Is off-plan safe? It carries real developer risk, because projects are not regulated in the way many buyers expect, so check financing, track record and contract terms first. What is the difference between white frame and turnkey? White frame leaves finishing and furniture to you, turnkey is fully finished and equipped. Is a resale flat cheaper to own? Not automatically, since older buildings can bring renovation and building maintenance costs. Can I buy remotely? Yes, many steps can be handled online or by power of attorney, but title checks should be done before any payment.

How we help

We check the developer, the title and the building before you pay, compare the real finished cost of new and resale options, and tell you what we found, including the inconvenient parts. This article is general information, not legal, tax or investment advice, and rules change, so confirm figures with the relevant authority or a Georgian lawyer.