Why we check these things
The property, documents, developer, district, expected income and contract may each look convincing on their own. Risk appears where they do not fit together.
That is why we check each issue separately. If a property fails one important check, we do not recommend it. The rule applies to new developments, aparthotels and resale apartments.
Below, we explain what we check, which sources we use and when we advise walking away.
The building, surroundings, the actual view.
What is checked
- Physical condition of the building: walls, common areas, lifts, roof.
- Whether the actual layout matches the plan.
- The actual view from the window — not a render or agency-portfolio video.
- The 200 m surroundings: neighbouring lots, noise sources, infrastructure.
- Off-season surroundings if the property sits in a tourist corridor.
How it is checked
- A physical visit to the property — Partner Estate or a trusted local for a remote buyer.
- Comparison of the NAPR plan with the actual layout.
- Checking neighbouring-lot development plans through NAPR and municipal documents.
- Optional: an off-season visit.
Why it matters
Renders and portfolio photos are a plan or a snapshot selected by the seller. The real property may differ structurally or contextually. A frequent post-purchase issue in Batumi is a changed view one year later because the neighbouring lot was not checked for development permission.
When it fails
The plan and actual area differ by more than 5%. A neighbouring lot has permission for a 15-storey building directly in front of the windows. The building shows construction-risk signs: visible cracks, uneven walls, engineering-system issues in common areas.
Track record, legal status, operational team.
What is checked
- Previous projects by the developer: number, scale, completion status.
- Delivery history: on time, delayed, unfinished.
- Company legal status: actively operating, disputes, bankruptcy proceedings.
- Operational team: whether the project is visibly active or paused.
- Current construction sites — visible pace of work.
How it is checked
- NAPR developer registry — previous projects under the same developer ID.
- TCSA — construction-permit history.
- PSH — legal entity, disputes and registration status.
- Field visit to current sites: pace, condition, activity.
- Conversations with residents of previous projects.
Why it matters
"Good developer" is not a credential. It is a track record evidenced by 2–3 completed projects. Without track-record verification, the buyer relies on current-project marketing, which does not show delivery risk.
When it fails
Two of three previous projects were delivered more than 6 months late. There is pending litigation from subcontractors. Construction has visibly paused for more than 2 months. Management changed within the last year alongside aggressive last-minute discounting.
NAPR, title clarity, permits, classification.
What is checked
- Fresh NAPR extract for the specific unit, not an agency copy.
- Title clarity: ownership chain, no encumbrances, seizures or pledges.
- Construction permits: urban planning approval, construction permit, occupancy permit.
- Actual property classification: residential, commercial or aparthotel.
How it is checked
- NAPR online portal — ordering an extract for the specific unit, not relying on the seller’s verbal claim.
- Cross-checking classification against the Ministry of Finance 2026 public decision.
- TCSA review of permits.
- Title history chain — previous transfers if this is secondary market.
Why it matters
A document error can cost the entire investment. Ownership and restrictions must be checked in the Public Registry, not accepted on the seller’s word. Property status also matters: a residential property and an apartment within hotel infrastructure may follow different tax regimes on sale. Confirm the applicable one before deciding.
When it fails
NAPR shows a seizure or pledge. Title history contains an unresolved dispute. Construction permits are missing from the full package. Classification mismatch: the property is sold as residential but legally registered as aparthotel, which means a different tax rate at sale.
District character, seasonality and oversupply risk.
What is checked
- Real district character: tourist, residential or mixed.
- Demand seasonality: high-season peak vs off-season floor.
- Current oversupply risk: how many new developments are within 1 km and when they complete.
- Future oversupply risk: development sites within 500 m.
- Everyday infrastructure: groceries, pharmacies, schools, transport.
How it is checked
- Direct presence: district checked in high season and off season.
- NAPR data on neighbouring lots — future construction permissions.
- Geostat tourism data for regional context.
- Galt & Taggart and Recov supply data for market-wide pressure context.
Why it matters
The district determines who will rent or buy the property. Income is seasonal in a tourist area. Demand is steadier in a residential district, although peak income is often lower. If the district does not fit the goal, even a good apartment may produce a low return or be difficult to sell.
When it fails
The buyer’s goal is passive LTR yield, but the property sits in a pure tourist corridor. Future supply pressure within 500 m includes 3 more high-rise projects under construction. Off-season shows the district lacks everyday infrastructure.
Realistic yield under plan, exit time.
What is checked
- Realistic yield under the buyer’s specific plan, not the city benchmark.
- Stress scenario: low-season vacancy, higher management cost, rental-rate change.
- Exit time from this type of property in this district.
- Liquidity floor: what happens if cash is needed in X years.
How it is checked
- Object-level cash-flow model: rent estimate × occupancy − vacancy − management − maintenance − tax.
- Stress scenario: low-season vacancy + management overhead.
- Days-on-market benchmark for exit horizon.
- Comparison with the Galt & Taggart city benchmark — context, not promise.
Why it matters
A yield indicator advertised as 10–13% net usually means a top-decile operator with active management, or arithmetic without low-season vacancy and operating cost. Galt & Taggart 2025 marks Batumi market yield at 7.4%, down from 8.8% in 2024. Object-level modelling is the only path to realistic expectation.
When it fails
Modelled yield under realistic operating assumptions falls below the buyer’s target ratio. Days-on-market in the district exceeds the exit horizon. Bear-case scenario shows negative cash flow in low season.
Contract, payment terms, rights on delay, taxes.
What is checked
- Contract from the first line to the last.
- Payment terms: instalments, preliminary-agreement registration, currency clauses.
- Buyer rights if developer delivery is delayed.
- Penalty clauses if the buyer exits the deal.
- Tax consequences of property classification and foreign-owner reporting requirements.
How it is checked
- Full contract reading; an independent lawyer is recommended for complex deals.
- Cross-checking tax classification against Ministry of Finance criteria.
- Verification of currency clauses, preliminary-agreement registration and payment terms.
- Verification of foreign-owner reporting requirements through rs.ge.
Why it matters
A developer contract often protects the developer better. For example, it may specify a penalty for the buyer’s late payment but none for delayed delivery. Incorrect tax status is another risk: the difference at sale may be 5% for residential and 20% for commercial property.
When it fails
Contract penalty asymmetry: buyer penalty for delay is defined, developer delivery delay is not. Tax classification mismatches the real use plan. Currency clause is locked one-way against the buyer.
When the check ends with "no"
Not every property passes verification. Sometimes none of the options on the buyer’s initial list is suitable.
In that case, we do not recommend them, however attractive the rendering or urgent the seller’s timeline may be.
Verification cannot guarantee a successful purchase. Its purpose is to reveal every material risk before the decision.
If you are considering a specific property — Partner Estate can review your situation. The key checks apply to every property, regardless of segment.
Contact Partner EstateSources
- NAPR — National Agency of Public Registry · Current registry
- TCSA — Technical Construction Supervision Agency · Construction permits
- PSH — Public Service Hall · Legal entity registry
- Revenue Service of Georgia · Tax and reporting
- Ministry of Finance of Georgia — Public Decisions · 2026
- Galt & Taggart — Batumi Residential 2025 Review and 2026 Outlook · 2025
- Recov by Colliers Georgia · May 2026
- Geostat — Inbound Tourism Statistics 2025 · 2025