5 Key Questions to Ask About the Developer Before Buying an Apartment Under Construction

The Maqro City Tbilisi blog has already covered multiple times how and why the location, layout, or infrastructure matter when buying a home. This time we’ll turn the focus to another, no less important part of the process: the reliability of the development company in charge of the project.

In recent years, an increasingly large share of buyers has started buying apartments under construction in Tbilisi instead of finished units. It’s completely understandable: this type of real estate usually sells at a considerably more affordable price than a unit in a finished project. 

But when investing in a project that isn’t going to be finished for years to come, the buyer is trusting the developer's word that the company will deliver their new home on the agreed timeline and at the agreed quality. And for that trust not to be baseless, the buyer needs to learn certain things about the company, before signing the contract. It’s just as essential a step as choosing the home itself.

What Experience Does the Company Have? What Stands Behind its Name?

Nothing speaks about a construction company's reliability better than its track record. A dependable developer never hides the project it has completed, how long it’s been operating on the market, or its list of partners. It shares information openly with customers.

Maqro City Tbilisi is led by Maqro Development, a company proud of its portfolio. Currently, Maqro Development has already successfully delivered two major residential complexes in Tbilisi, “Green Budapest” and “Green Diamond”. 

In both cases, the main emphasis was on creating a green environment. The apartments were handed over to residents fully renovated. The company is keeping to that same standard with its ongoing project, Maqro City Tbilisi.

Are All the Necessary Legal Matters in Full Order?

The second step should be focusing on the legal documentation. The project must have a construction permit, and the status of the land plot in the public registry must match the data the developer provides. This information is public, and anyone should be able to look it up. And, in the best case scenario, the buyer shouldn’t have to look it up - a trustworthy construction company shares the necessary documentation the moment it's requested.

There are also the rules for registering ownership to keep in mind. It's a good idea to clarify from the get-go in whose name the contract is registered, and whether the property can be bought by proxy, or by a legal entity or a foreign citizen. A developer who has the legal side sorted will have answers to such questions ready and will be able to adjust the purchasing process for various individual cases instead of just defaulting to one standard procedure.

What Are the Terms of Purchasing the Apartment?

The third thing to fully clarify is the payment terms. Currently, when buying an apartment under construction in Tbilisi, the buyer can usually choose from two ways of paying: a bank mortgage loan and the developer's own internal installment plan. There’s a considerable difference between the two. If choosing the internal installment plan, the buyer will sign the contract directly with the construction company, so a bank no longer acts as the middleman in the process. On top of that, internal installment plans usually tend to be interest-free.

Maqro City Tbilisi offers a similar deal as well: you can buy apartments with 0% internal installment plan, with the payment schedule tailored to the construction timeline. The buyer doesn't need to pay the full price at once, but covers it in comfortable stages. Even so, a few specific details should be pinned down when hashing the deal out with the company. The final payment plan will depend on how long the payment schedule runs, how large the down payment is, and whether any additional interest will be charged on the remaining balance.

What is the Location of the Project and How Does it Connect to the Other City Districts?

The choice of location says something about the developer's vision, too: an experienced company won’t start a project in a district with poorly developed transportation infrastructure and no clear potential for future growth, especially on the investment side. For example, as a rule, demand for apartments near metro stays steadily high on most real estate markets. Renting out such a property, or selling it down the line, tends to be much easier.

Maqro City Tbilisi was planned with this approach in mind. The complex is being built in the Samgori district on Noah Ramishvili Street. It's a mere five-minute walk to Samgori metro station, a 10-minute drive to the airport, and 15 minutes to the city center. Demand for real estate near Metro Samgori is consistently growing, and it’s projected to climb further over the next few years, driven by the infrastructure projects planned for the area.

What Obligations Does the Company Take On? Who Manages the Complex after Apartment Handover?

Before signing the contract, pay particular attention to the obligations the developer intends to take on in the future. First and foremost, the document should state clearly what happens if the construction deadline is missed. A conscientious developer sets an appropriate penalty for such risks in advance and formally takes on specific financial responsibilities. Full transparency with construction standards matters just as much. Specifically, the quality of the materials used or how well the structure holds up against earthquakes.

These days, it’s expected for the new residential complexes in Tbilisi to come with landscaped courtyards, sports grounds, and designated children's zones. So another thing to clarify before buying is whether the developer will be responsible for looking after the upkeep of this space. At Maqro City Tbilisi, the recreational areas and shared facilities are going to be handled by a dedicated entity created for this specific reason, Maqro Management.

In short, whether or not it’s worth it to invest in a developing property comes down to five main areas: the development company's experience, the project's legal side, the payment terms, the location, and the obligations the company takes on in the contract. Getting clear, documented answers to these questions is the best proof of the developer’s reliability.

Anyone interested in the Maqro City Tbilisi project can obtain additional information at the sales office, where a company representative will discuss the project's features, apartment types, payment plans, and other details in more depth.