Which is better, invest in Turkey or invest in Georgia?
In this article, we will present the results of a study conducted by the Pearl Turkey team to compare Turkey and Georgia in terms of investment in general and real estate investment in particular.
1 - Individual Income: The minimum salary in Turkey is $ 400, while the minimum salary in Georgia is $ 200.
2 - Unemployment rate: The unemployment rate in Turkey was 14.2% out of 81 million, while the unemployment rate in Georgia was 11.2% from 3.7 million people only
3 - Currency and inflation: The currency of Turkey is the Turkish lira and suffers from an inflation rate of 10% annually and the currency of Georgia is the lari and suffers from a relatively simple rate of inflation 1.8%
4 - Geographical area: Turkey has a geographical area of 783,000 square km, while Georgia covers only 69,000 square kilometers
5 - The Turkish gross domestic product reached in 2019 about 743.7 billion dollars and a growth rate of 3%, while the gross domestic product in Georgia in 2019 is approximately 42 billion and a growth rate of 5.2%
6 - For the property, the average price per square meter in Turkey was generally $ 800, while the average price per square meter in Georgia was $ 950
7 - The rental yield in Turkey was an average of 5%, while in Georgia it was 3.5% (what is meant is the annual rent, not tourism).
8 - The increase in real estate prices in Turkey exceeded 20%, while in Georgia 6.5%
9 - Residence Law: In Turkey, the real estate investor guarantees obtaining a residence permit for a period of two years, renewable, while in Georgia there is no clear law for the renewal of residence permits.
10 - Nationality: Turkey grants citizenship to investors through several methods such as real estate investment in the amount of $ 250,000
The bottom line: All figures indicate that Georgia is a relatively small country and cannot be compared, either, to a country the size of Turkey, which is witnessing civilizational and qualitative progress in terms of GDP, domestic and foreign investments, and the presence of relatively high competencies in the Turkish market, while Georgia relies on a category Few of the population, who are proportional to the size of the country