Property Valuation for Residence Permits in Georgia – $150,000 and $300,000 Requirements Explained

Oct 6

6 min read

Foreign citizens who own real estate in Georgia may qualify for a residence permit based on the market value of their property. Depending on the value of the real estate and the type of residence permit, two important

property-based routes are available: a Short-Term Residence Permit and an Investment Residence Permit.

As of 2026, the key real estate value thresholds are:

Over USD 150,000 in market value – for a Short-Term Residence Permit;
Over USD 300,000 in market value – for an Investment Residence Permit based on real estate ownership.

In both cases, professional property valuation is an essential part of the process. The market value of the real estate used as the basis for the application must be supported by a valuation report prepared by an appropriately certified appraiser in accordance with the applicable requirements.

An important point for foreign property buyers is that the purchase price and market value are not necessarily the same.

Short-Term Residence Permit – Property Value Over USD 150,000

A foreign citizen who owns qualifying immovable property in Georgia, excluding agricultural land, may qualify for a Short-Term Residence Permit when the market value of the property exceeds USD 150,000 equivalent in GEL.

For residence permit purposes, the market value must be established by a certified appraiser meeting the applicable Georgian accreditation requirements and supported by an appropriate valuation report.

Under the current regulations, the Short-Term Residence Permit may also be issued to the property owner's spouse and child or children, provided that the applicable legal requirements are satisfied.

Investment Residence Permit – Property Value Over USD 300,000

A foreign citizen may qualify for an Investment Residence Permit based on ownership of qualifying immovable property in Georgia, excluding agricultural land, when its market value exceeds USD 300,000 equivalent in GEL.

The market value of the real estate must also be confirmed by a valuation report prepared by an appropriately certified appraiser.

The Investment Residence Permit may also be issued to qualifying family members. Under Georgian legislation, this category includes the investor's spouse, minor child and certain fully dependent persons as d

efined by the applicable regulations.

A property-based Investment Residence Permit may also provide a pathway to a Residence Permit for Indefinite Stay.

Under the current rules, an individual who has held the qualifying real estate on which the Investment Residence Permit was based for the required five-year period may apply for indefinite stay, provided that the relevant legal requirements have been maintained.

Why Is Property Valuation Required?

For both property-based residence routes, the relevant authorities require independent evidence of the market value of the real estate.

The amount stated in a purchase agreement does not, by itself, establish market value.

For example, purchasing an apartment for USD 155,000 does not automatically mean that its independently assessed market value exceeds USD 150,000.

The same principle applies to the USD 300,000 threshold for an Investment Residence Permit.

The purchase price may be influenced by negotiations, payment conditions, urgency and the individual motivations of the buyer and seller. A professional valuation, on the other hand, is intended to establish market value based on the characteristics of the property, relevant market evidence and appropriate valuation methodology.

Depending on the circumstances of the assignment, valuation may concern an individual property or multiple real estate assets.

What Does an Appraiser Consider When Determining Market Value?

Professional property valuation involves considerably more than checking the registered area of a property or comparing it with a few online advertisements.

The factors considered depend on the type of real estate, but commonly include:

Location

Location is one of the most significant factors affecting real estate value.

The appraiser considers the district and specific micro-location, accessibility, surrounding development, infrastructure, transport connections and market demand in the area.

Even apparently similar properties within the same district may have materially different market values.

Property Type, Size and Functional Characteristics

The type of real estate, registered area, layout, functionality and other property-specific characteristics can significantly influence market value.

For residential real estate, factors such as internal area, layout, balconies, terraces and parking may be relevant.

For land, development property, commercial buildings, industrial facilities, hotels and specialized real estate, different asset-specific characteristics may require additional analysis.

Building and Property Condition

For apartments and other properties located within buildings, the appraiser may consider the age and type of construction, construction quality, physical condition, common areas, elevators, parking, maintenance and the overall quality of the development.

The condition and quality of improvements within the property can also influence value.

Individual Characteristics

Depending on the property type, floor level, natural light, orientation, views, terraces, accessibility and other individual characteristics may influence market demand and value.

Legal and Development Characteristics

For land plots, development properties and certain specialized assets, legal status, permitted use, development potential and other planning or property-specific characteristics can have a significant impact on value.

Market Evidence and Comparable Properties

Market research is one of the most important parts of the valuation process.

The appraiser analyzes relevant comparable properties and other market evidence and considers the differences between them and the property being valued.

Professional judgment is required to determine which comparables are relevant and how differences in location, size, condition, building quality and other characteristics affect market value.

A Practical Note from Base2023 Valuers

One of the most common misconceptions among foreign property buyers is that the price paid for a property automatically determines its market value.

In practice, properties purchased at similar prices may have different market values because of differences in location, condition, building quality, layout, legal characteristics and current market evidence.

This becomes particularly important when the property's expected value is close to the USD 150,000 or USD 300,000 residence permit threshold.

Understanding this difference before starting the official residence permit valuation — and, where possible, before purchasing the property — can significantly reduce uncertainty.

How Does the Property Valuation Process Work?

1. Identifying the Purpose

At the beginning of the assignment, the purpose and intended use of the valuation are established.

The appraiser should know that the report is required for a Georgian residence permit and whether the valuation relates to the USD 150,000 Short-Term Residence Permit or the USD 300,000 Investment Residence Permit.

2. Property Information and Documentation

The client provides the information and documentation required to identify and analyze the property or properties.

Additional documents may be required depending on the type and complexity of the real estate.

3. Property Inspection

The appraiser inspects the property and records the physical and other characteristics relevant to its market value.

4. Market Research and Analysis

Relevant market information and comparable properties are researched and analyzed.

5. Determination of Market Value

Based on the property information, inspection, market evidence and appropriate valuation methodology, the appraiser develops an independent opinion of market value as of the relevant valuation date.

6. Valuation Report

The analysis and conclusion are documented in a formal valuation report that can form part of the documentation required for the relevant residence permit application.

Can an Appraiser Guarantee a Value Above USD 150,000 or USD 300,000?

No.

A professional appraiser cannot guarantee or predetermine a particular market value simply because a specific threshold is required for a residence permit.

The appraiser's responsibility is to provide an independent and professionally supported opinion of market value.

However, clients can request a preliminary indicative assessment of approximate market value before starting the formal valuation process.

This can be done both before purchasing real estate and after the property has already been purchased.

Preliminary Property Valuation Before Purchase

If a client is considering purchasing real estate in Georgia for residence permit purposes, a preliminary valuation can provide an indication of the property's approximate market value before the transaction.

It can help the buyer understand:

whether the asking price appears reasonable in the current market;
how the property compares with similar real estate;
its approximate expected market value;
whether the expected value appears comfortably above, close to, or potentially below the relevant USD 150,000 or USD 300,000 threshold.

This can be particularly useful when obtaining a residence permit is an important reason for the investment.

Preliminary Property Valuation After Purchase

A preliminary assessment can also be carried out after the property has already been purchased but before starting the formal valuation.

This gives the property owner an initial indication of the approximate market value and helps them understand whether the property is likely to satisfy the applicable residence permit threshold before proceeding with the official valuation process.

A preliminary assessment is indicative and should not be confused with a formal valuation report. The final market value is determined after completing the necessary valuation procedures, including property analysis, market research, inspection and preparation of the formal report.

Base2023 provides professional valuation services for all types of real estate throughout Georgia.

Our valuation work covers:

apartments and private houses;
commercial properties;
office and retail real estate;
land plots;
development properties;
industrial real estate;
hotels and hospitality properties;
specialized real estate;
and other types of real estate assets.

Whether you are still considering a property purchase, have already purchased real estate, or are ready to proceed with the formal valuation required for your residence permit application, Base2023 can assist you at each stage of the valuation process.

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