Batumi Among ‘the Best European Cities to Invest in’ for 2020

Forbes’ senior contributor Amy Dobson has named Georgia’s charming seaside town of Batumi among the “Best European Cities to Invest in for 2020”. 

Dobson reached out to LeadingRE, a global consortium of 565 real estate brokerages across 70 countries, to see which cities were showing signs of real estate growth but hadn’t yet surpassed the threshold for turning a profit.

“With plenty of land available in Batumi and little restriction on development, new projects are popping up in the city to cater for the uplift in demand,” Dobson cites Chris Dietz, Executive Vice President of Global Operations for LeadingRE. 

Dietz also notes that “investors, also from neighboring Turkey, are attracted to the 2,000-year history and culture as well as the favorable prices compared to other more well-known European coastal hubs”.

Earlier this year, Batumi was named ‘Europe’s Leading Emerging Tourism Destination’ at the World Awards ceremony. While Western guests arrive in increasing numbers to visit the country’s capital city, Tbilisi, the rest of the country awaits undiscovered. But some have already stumbled onto the unique synthesis of the mountains and sea in Batumi, a lazy seaside town where the beaches are welcoming, the food and wine delectable, and the culture ancient and vibrant. It won’t be long before the Western world catches on to the quiet, luxurious escape of the Georgian coast.

By Elene Dzebisashvili