Georgia vs Turkey: two non-EU markets compared for buyers

Georgia and Turkey are the two non-EU markets in our region that foreign buyers most often compare: both sell well to buyers from outside Europe, both have a coast and a major city, and both are far cheaper per square metre than the EU's southern markets. They differ sharply in size, tax design and the kind of risk you carry. The figures below are a snapshot as of autumn 2026, drawn from our country guides and fresh checks; confirm each one before you commit.

Prices and rental yields

• Georgia: in Tbilisi, districts run roughly $900–1,500/m² (Saburtalo) and $1,200–2,000 (Vake), with the Old Town at $3,500+; new-build coastal product in Batumi runs roughly $1,400–1,800/m². Long-term rental yields in Tbilisi averaged about 7–8% gross in Q1 2026.
• Turkey: Istanbul districts run roughly $1,500–3,500+/m² by location, with a citywide average of about $1,500 in one dataset and around $3,100 for the centre in our best-areas guide; Antalya runs about $900–2,200/m². Reported gross yields are about 8.2% in Istanbul and 6.5% in Antalya.

These yields look high, but Turkish figures are in a currency with high inflation and volatility, so compare them in dollars or euros after currency movements, not in lira. Georgia's market is smaller and thinner, so exit takes longer; Istanbul is deep and liquid. Datasets differ in method, so use these as orientation, not as a quote.

Who can buy, and where

• Georgia: foreigners can buy property on the same footing as citizens, except agricultural land. Some investors reportedly buy such land through a Georgian company, which is a legal question to settle with a lawyer.
• Turkey: foreigners can buy, but within limits: reportedly up to 10% of the privately owned area of a district, and up to 30 hectares in total, and not in military or security zones. The reciprocity requirement was lifted in 2013. A military clearance step applies to foreign buyers, as our Turkey risk guide explains.

Residency and citizenship

• Georgia: citizens of about 95 countries can stay visa-free for up to 365 days. A temporary residence permit by property investment exists; reports say the minimum rose from $100,000 to $150,000 on 1 March 2026, renewable annually, and several properties can be combined. There is no citizenship route for buying property. In 2026 Georgia also introduced a work-permit regime for foreigners; how it applies to remote work for a foreign employer from inside Georgia remains unclear, so check before you rely on the visa-free year.
• Turkey: a residence permit is available for property from $200,000, typically for two years and renewable. Citizenship is available for property of at least $400,000 under a licensed appraisal, with a three-year no-sale annotation on the title. The digital nomad visa needs about $3,000 a month, an age of 21–55 and a university degree. A Turkish passport does not give visa-free access to Schengen, the US or the UK.

Taxes and costs

• Georgia: tax residents pay no income tax on foreign-sourced income. Rental income is reported at 5% for owners on the list of landlords and 20% otherwise; check the current regime. Residential property held for more than two years is exempt from capital gains tax, and 5% applies on a sale within two years. Annual property tax is reported at up to 1% of assessed value, depending on your circumstances. Registration fees are reportedly small.
• Turkey: the title deed tax is usually 4%, commonly split between buyer and seller and negotiable; DASK earthquake insurance is compulsory at transfer; new builds carry VAT of 10% or 20% by size. A gain is taxed only if you sell within five years of registration, with the purchase cost indexed to inflation above a threshold and progressive rates of 15–40% after an annual exemption.

Renting it out

• Georgia: we found no national licensing regime for Airbnb-style lets, but confirm local rules with the municipality. Rental income tax applies as above.
• Turkey: Law 7464 requires a Ministry of Culture and Tourism permit for rentals of 100 days or less, and in multi-unit buildings the consent of all owners; unpermitted listings can be removed. See our Turkey short-term rental guide before counting on holiday income.

Where each is harder

• Georgia: small, thin market and developer risk, especially off-plan; unclear rules on working from Georgia as a foreigner; lighter buyer protection, as our Batumi guides explain.
• Turkey: currency volatility and inflation, earthquake and structural due diligence, military-zone checks, and stricter holiday-let permits. In the 2026 InterNations Expat Insider survey Turkey ranked 29th of 31, mostly on economic conditions.

Which suits which goal

• Highest headline yield in a deep market: Istanbul, if you accept currency risk.
• Passport route through property: Turkey, from $400,000. Georgia has none.
• Simple tax design for foreign income and a low-friction first year: Georgia.
• Beach lifestyle and established foreign-buyer demand: Antalya or Bodrum in Turkey, Batumi in Georgia, with Batumi more seasonal and developer-dependent.
• Capital preservation: neither is a safe haven; the choice is which risk you prefer, lira or thin liquidity.

FAQ

Which is cheaper? Georgia's Tbilisi and Batumi are often cheaper per m² at entry than central Istanbul, but Antalya and Fethiye compete. Which gives citizenship for a purchase? Only Turkey. Which has simpler taxes on foreign income? Georgia, for tax residents. Which is safer to hold long term? Neither is risk-free: Turkey carries currency and structural risk, Georgia thin liquidity and developer risk, so match the choice to your tolerance.

How we help

We shortlist across both markets to your goal, model net costs in your own currency and coordinate local lawyers and tax advisers. Informational only — not investment, legal or tax advice; rules and figures change, and sources differ.