Hotel room for sale
Georgia - T`bilisi
like this property?Call: 03339 396442
- 24/7 Security
- Swimming Pool
- Fitness Centre
- River Views
- Roof Terrace
- Spa Centre
- Concierge Service
- Mountain Views
The project was only launched at the end of 2017, which means that buying now provides you with an opportunity to 'get in on the ground floor' where you can select the best apartments at the lowest prices. Only 30 apartments will be sold at these specially discounted introductory prices.
Tbilisi Waterfall is a truly five-star hotel development which is located just south of Tbilisi's famous old town in the upmarket Ortachala area. The project started construction at the end of 2017 and is scheduled for completion in June 2019. In total, the project contains 163 apartments in a 17-storey building. The project is being developed by one of Kyrgyzstan's top 200 companies, who have already invested $12 million into the project.
The project contains all of the amenities that you would expect to find at a luxurious hotel. The facilities here include a fitness centre, sauna and spa centre, three upmarket bars and two restaurants, together with conference rooms. However, the most spectacular facilities are right at the top of the tower. Here you will find the roof terrace, which offers an infinity pool surrounded by recliners where you can enjoy the beautiful views over the River Mtkvari.
All apartments at Tbilisi Waterfall are sold on a fully finished and furnished basis - so there is nothing in addition to the published prices that you need to pay for, except for the $20-80 fee to register the property in your name upon completion. There is a large selection of different-sized apartment to choose from at Tbilisi Waterfall. The smallest apartments here are 33.37m2 studio apartments while the largest available to purchase are 100.54m2 two-bedroom suites, which have a top price of $201,000.
Daily rates for comparable five-star hotels start at $160 per night, with occupancy rates ranging from 70-80% depending upon the season. This means that even the most affordable studio apartments at Tbilisi Waterfall are forecast to generate $43,792 per annum in income. From this, the hotel management company will take 35% of the revenue for operating the hotel, leaving the remaining 65% as the owner's net income. On a standard studio, this amounts to a net annual income of $27,041 - giving buyers of the most affordable apartments on the project an astonishing return of 41%.
In terms of payment plans, the standard terms at Tbilisi Waterfall are 25% upon contract, with the remaining 75% to be paid during the course of the build. For those who need financing, however, there is the option of paying 50% over the build, taking a mortgage for the remaining 50% from TBC Bank. This loan will be for a maximum period of five years and will have an interest rate of 7%. In all cases, the monthly returns in income will be substantially higher than the monthly payments. So after the 50% is paid, there should be no more outgoings for the buyers.
Sales of the most affordable apartments at Tbilisi Waterfall are already rapid. The more affordable the apartments, the higher the returns will be. So buyers should act quickly if they wish to see the best returns, as larger, more expensive apartments will offer slightly lower returns than the smallest available options. In addition, the first 30 buyers have a very special incentive for booking quickly because the developer is offering a 20% Minimum Guaranteed Return for the first five years - no matter what the occupancy rate will be like during this period.
- Tbilisi (INTERNATIONAL), 8.9 miles
*Distances are straight line measurements. This feature is currently in beta.