The 3 Mistakes I See Foreign Buyers Make Most Often in Batumi

I live in Batumi and talk every week with foreigners who want to invest here. Some come to me before buying. Others — unfortunately — after. These are the three mistakes I see most often in the second group.

Mistake 1: buying off-plan without vetting the developer

Pre-sale in Georgia can be an excellent price lever: you enter below delivery value and ride the construction-phase appreciation. But Georgia has no EU-style buyer-protection system. If the developer stalls, your capital stalls with him.

The difference between a deal and a problem comes down to four checks: the developer's delivery track record, the solidity of the entity signing the contract, delay penalties written in black and white, and payment milestones tied to construction progress — not to the calendar.

The rule: developer due diligence before the deposit. Always. If the person selling you the apartment gets irritated when you ask for the SPV's accounts, you've just received the most valuable information of the entire negotiation.

Mistake 2: running the numbers on brochure yields

"Up to 15–20% guaranteed returns." When you read that line, the only thing guaranteed is that whoever wrote it isn't giving you a P&L.

The verified market figure is an average gross yield of 7.4–8.6% (Galt & Taggart, 2025). Which is excellent — above Lisbon, Budva and Nice. But it's gross. From gross you subtract: the management fee (typically 20–30% of rent), vacancy periods, maintenance, taxes (5% on rent in Georgia) and banking costs.

The rule: before any offer, demand a complete P&L in three occupancy scenarios — pessimistic, realistic, optimistic. If the seller won't prepare it, have it prepared by someone who isn't selling.

Mistake 3: moving capital without a banking strategy

This is the most underrated mistake and the one that produces the worst weeks. Georgian banks — Bank of Georgia, TBC — apply strict KYC on significant transfers. I've seen preliminary contracts expire because the wire sat in compliance while the buyer drip-fed documents from abroad.

Arriving at closing without an open account and without a ready source-of-funds dossier means blocks, follow-up requests and — in the worst case — a lost deposit.

The rule: banking planning precedes the purchase. Account opened, complete source-of-funds dossier (origin, taxation, traceability), transfer channel defined. For large amounts, dedicated instruments exist — including letters of credit.

The common root

All three mistakes share one origin: buying before analysing. My method exists to reverse that order — and it works even when the analysis concludes "don't buy". If you want to bring me your case, the first consultation is free and takes 45 minutes.