How to Buy an Apartment in Maqro City Tbilisi? A Step-by-Step Guide

Which type of apartment should a buyer choose, what documentation is required, how do the seven payment plans differ from each other, and what are the stages of signing a contract? These are precisely the questions that people interested in "Macro City Tbilisi" most frequently ask.

This blog intends to answer them clearly, providing a detailed outline for each stage of the process, covering everything from selecting an apartment to registering ownership. 

Defining Your Goal: A Home or an Investment Property?

The choice of apartment type depends on its specific purpose. For residential use, two or three bedrooms are usually optimal. For investment purposes, however, a one-bedroom apartment is the most sought-after in the rental market.

Maqro City Tbilisi offers three apartment categories. One-bedroom units range from 46 to 57 sq.m., two-bedroom apartments from 66 to 85 sq.m., and three-bedroom ones from 101 to 163 sq.m. In the two-bedroom and three-bedroom layouts, residents can also choose between two kitchen formats: an open-plan studio-style kitchen connected to the living room, or a separate kitchen as its own independent space. In addition to standard units, the project also offers terraced apartments and units with their own private yards.

One-bedroom apartments are distinguished by their functional layout. Their relatively low initial cost creates favorable conditions for investors, especially in the rental market, where demand for such spaces is consistently high.

Two-bedroom and three-bedroom apartments are primarily designed for long-term living. These layouts are often the preferred options for families, as the main emphasis is placed on comfort, practicality, and a greater sense of privacy.

In What Condition Does the New Owner Get the Apartment?

"Macro City Tbilisi" apartments are handed over with full renovation. This means that the buyer receives a finished residence where there is no need for additional renovation work.

The apartments will already have laminate flooring and underfloor heating, painted walls, and fully functional electrical wiring. The kitchen comes equipped for everyday use, with standard furniture, a stove top, an oven, and an extractor hood. The bathroom is tiled with ceramic tiles and has a working sink, toilet, mirror, cabinet, and towel warmer.

Documents Required to Purchase Real Estate in Georgia

Before purchasing an apartment in a residential complex, it is advisable to collect in advance the necessary documentation for this process. The procedure is relatively simple, but the details vary depending on the buyer's status.

An individual buyer will need a document verifying their identity. If the apartment is being purchased in the name of a legal entity, a partners’ meeting resolution must be submitted, unless the company charter explicitly states otherwise.

The property may also be purchased using a power of attorney, provided that the document specifically grants authority the rights to purchase real estate. If the apartment is to be registered in the name of a minor, a legal representative’s signature is required.

It is also worth noting that no restrictions apply to foreign citizens when it comes to residential real estate. They have full rights to purchase an apartment under the same conditions as Georgian citizens.

Choosing a Payment Plan

In "Macro City Tbilisi", it is possible to purchase an apartment with interest-free internal installments or a one-time payment. The installment plan is tailored to the construction period and does not require bank involvement, as the buyer pays the cost to the company according to a pre-agreed schedule.

The company offers potential buyers seven different plans that vary based on the size of the initial down payment and the discount applied.

The most flexible option is considered to be the so-called “first plan”. Under the first plan, the buyer’s initial down payment is 10% of the apartment price. Another 40% is paid during the construction period, while the remaining 50% is to be paid out once the construction is completed. This structure is particularly convenient for buyers who do not want to pay a large lump sum all at once for an apartment that isn’t finished.

If the buyer increases the initial down payment amount, they become eligible for various discounts. With a 20% down payment, the discount is 5%; with a 30% down payment, it rises to 7.5%; and with a 35% down payment the discount reaches 10%.

The discount hits 12.5% if the buyer opts to pay half the apartment price from the get-go, with the 40% of the remaining sum covered during construction. And if they pay the full price of the apartment as a one-time payment right as they buy, the buyer will receive the maximum discount of 15%.

Signing the Contract

Once the payment plan has been selected, the process moves to the next stage: contract execution. This process is divided into two steps.

Firstly, a preliminary sale and purchase agreement is prepared, This one may also be signed remotely. The document allows the buyer to reserve the apartment and begin the payment process before it’s time to execute the main agreement. The preliminary agreement is not registered with the Public Registry.

The main agreement must be registered with the Public Registry. Ownership of the property will be transferred to the buyer after the construction has been fully completed and the units are ready to receive new residents. The first phase is scheduled for completion in June 2028, while the second phase is expected to be completed in June 2029. The governing bodies should complete building commissioning (confirming full compliance with the completed construction permit design) in about six months after construction is finished.

The contract details the obligations of both parties. The company is responsible for the construction timeline and quality, while the buyer is responsible for adhering to the payment schedule. In the event that construction is not completed on time, the contract provides for a penalty. This ensures the protection of the buyer's interests, especially given the complex's unique location and apartments near the metro, which further enhance its appeal.

What Happens After the Purchase Process is Completed?

While the construction is ongoing, transferring the apartment to a third party is allowed only with the company’s consent. In the event of resale, tax obligations should also be taken into account: if a residential apartment is sold within two years of purchase, the profit tax is 5%, while for hotel-type apartments it is 20%.

If the buyer chooses to terminate the contract, a 12.5% commission applies. The remaining amount is refunded to the buyer within one month.

Purchasing an apartment in "Macro City Tbilisi" is a transparent and consistent process. Contact us, the company is ready to provide interested individuals with information about the project details and offer support at every stage of the selection process.