How off-plan works in Georgia

In Georgia, off plan is not a niche: it is how most new flats in Tbilisi and Batumi are sold. Developers offer long interest-free plans and deposits as low as zero. What Georgia does not offer is a safety net: there is no escrow law and no developer register. That puts the agent in a key position. The buyer’s protection is the contract, the registry and your checks, so this guide is about doing them well.

The short version

1. Off plan is mainstream. Developer surveys showed Tbilisi primary sales up 27.3% in 2025 (Galt & Taggart, January 2026).
2. A buyer can be registered at the Public Registry (NAPR) as a future owner under a pre-purchase agreement. Full ownership follows completion and the fitness-for-use document (Legal.ge, October 2026).
3. Developer instalment plans usually run 2 to 3 years, mostly in foreign currency, and are exempt from the National Bank’s payment-to-income caps (SOVA, October 2026).
4. Down payments are now as low as 0%, and the usual 10% deposit is generally non-refundable (SOVA; GeorgiaExpats).
5. There is no escrow law and no developer register (Legal.ge; SOVA).
6. Batumi had about 12,400 unsold apartments in surveyed projects at the end of 2025 (Investor.ge, April 2026).
7. On new builds, the developer usually pays the agency, and the buyer pays no fee (TbilisiExperts).

How the buyer’s right is recorded

Legal.ge (October 2026) explains the structure:

• The buyer signs the developer’s pre-purchase agreement.
• The buyer can be registered at NAPR as a future owner of the unit.
• When the building is complete and has its fitness-for-use document, the buyer is registered as full owner.

Make sure the contract provides for future-owner registration, and that it is actually done. A buyer recorded in the registry is in a far stronger position than one holding only a private contract. Registration of a property right costs 150 GEL in 4 working days, 270 GEL in one day or 350 GEL the same day (napr.gov.ge).

How the money moves

SOVA (October 2026) and GeorgiaExpats (2026) describe the usual terms:

Term	What sources report
Plan length	Usually 2 to 3 years
Currency	Mostly foreign currency
Interest	Often interest-free
Deposit	Often 10%, usually non-refundable
Down payment	Now as low as 0%
Discount	About 20% to 30% below finished units
At handover	The balance is often refinanced by a bank mortgage

Why this matters. Instalment plans are exempt from the National Bank’s payment-to-income caps and may not appear at the credit bureau, and an economist quoted by SOVA said there is no regulation there. A buyer can sign for more than they can carry. Ask how they will pay the balance, and whether they will qualify for a mortgage at handover.

The mortgage rules are moving. In February 2025 the National Bank raised the loan-to-value cap on GEL mortgages to 90%. On 30 September 2026 it announced that the income threshold for the stricter 25% payment-to-income cap will rise from 1,500 to 2,000 GEL on 1 February 2027 and to 2,500 GEL on 1 September 2027 (SOVA). Check the rules that will apply at the buyer’s handover date, not today.

No escrow law, no developer register

Neither Legal.ge nor SOVA found a 2024 to 2026 law requiring escrow or creating a developer register. GeorgiaExpats (2026) notes that some developers hold deposits in escrow, but many do not. So:

• Never call a deposit “protected” unless the contract names the account and the conditions.
• Never call a completion date “guaranteed” unless the contract gives the buyer a real remedy.
• Read the refund and delay clauses with the buyer, line by line, before any money moves.

Building safety

In 2021, a building collapsed on 26 May Street in Batumi, killing nine people. OC Media linked it to illegal alterations and noted that architects and construction companies are not licensed in Georgia. For off-plan buyers, that means the developer’s permits and track record are the main signals of quality. Ask for both.

A worked example in Batumi

A foreign buyer reserves a 45 m² flat at 1,400 USD per m², near the August 2026 new-build average of 1,386 USD per m² (Business Media Georgia), so 63,000 USD. The terms below are an illustration. The contract decides.

Stage	Amount	Note
Deposit, 10%	6,300 USD	Check whether it is refundable
24 monthly instalments	2,362.50 USD each	Interest-free in this example
Registration as future owner	NAPR fee	Ask for proof
Completion and fitness-for-use document		Then registration as full owner
Agent fee for the buyer	0	The developer pays the agency

The flat is below the 150,000 USD threshold for property-based residence (Erickson Immigration Group), so do not mention residence to this buyer.

Batumi’s unsold stock

Batumi sold 17,478 apartments in 2025, up 15%, with foreigners buying 52% (Investor.ge, April 2026). But surveyed developers had about 12,400 unsold apartments at the end of the year, up about 14%, and gross yield fell from 8.8% to 7.4%. In June 2026, the new-build average jumped 22.6% to 1,455 USD per m², partly skewed by high-end projects (Eva Estate, citing Colliers).

For the buyer, oversupply means room to negotiate: on price, deposit, payment plan and delay penalties. For you, it means a duty to compare projects and avoid pushing a developer just because it pays well.

What to check on the developer and the project

1. Land and permits. Who owns the land in the registry, and does the project hold its building permit?
2. Track record. Which buildings has the developer completed, and were buyers registered as owners on time?
3. Future-owner registration. Does the contract provide for it, and when?
4. Deposit and refunds. Is the deposit refundable, and in which cases?
5. Escrow. Is there an escrow account, named in the contract? If not, say so to the buyer.
6. Delay. What happens if completion is late?
7. Currency. The plan is often in USD, but adverts must show GEL (ISET Policy Institute).
8. Your commission. When does the developer pay the agency, and does the buyer know you are paid by the developer?

Red flags

• A developer that will not show the land record or the permit.
• No future-owner registration in the contract.
• “Guaranteed” rental yields with nobody named to pay them.
• Pressure to pay a non-refundable deposit the same day.
• A residence promise on a unit below 150,000 USD.
• Payments to a personal account instead of the developer’s company.

Off-plan sales in Georgia rest on the developer’s contract and the Public Registry, with no escrow law or developer register. This guide was checked on the date shown above. It is general information, not legal, tax or investment advice. CloserPass is not affiliated with any developer, bank or government body in Georgia.

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