Guides · As of: August 2026
Georgia, Dubai, Turkey, Bulgaria.
"Why Georgia and not Dubai?" is the question we are asked most often. Here is the answer as a table — eight criteria, four markets, every figure with a source.
The short answer
Georgia is the market with the lowest entry point and the fewest hurdles. Three points make the difference:
- Purchase costs of around a hundred euros. Entry in the Georgian land register costs about 50 to 200 lari, and a notary is not compulsory. In Dubai and Turkey 4% transfer fee alone is due — on an apartment at $ 51,520 that is a difference of over two thousand euros before anything has happened at all.
- Ownership without approval and without zones. Foreigners buy residential property freely anywhere in Georgia. In Dubai that is only possible in designated freehold zones, and in Turkey restrictions apply in certain areas.
- Selling tax-free after two years. In Turkey a sale within five years attracts up to 35% on the gain, and in Bulgaria it stays taxable.
Where other markets come out ahead is in the table too — Dubai does not tax rental income at all, and Bulgaria offers EU law. Which weighs more for you depends on your goal.
The comparison
Eight criteria side by side.
| Criterion | Georgia | Dubai (UAE) | Turkey | Bulgaria |
|---|---|---|---|---|
| Purchase costs | registration around 50–200 GEL, no notary required | 4% transfer fee, 6–7% in total | 4% property transfer tax, 6–8% in total | 0.1–3% by municipality plus notary 0.1–1.5% |
| Ownership for foreigners | residential property without approval, no zoning restriction | only in designated freehold zones | permitted, with restrictions in certain areas | EU citizens without restriction for residential property |
| Gain on sale | tax-free after a two-year holding period, 5% before that | no capital gains tax | up to 35% on a sale within five years | taxable, allowances depending on the case |
| Tax on rental income | 1% on residential property for private individuals | none in the UAE | taxable as Turkish income | 10% flat tax, 10% standard cost deduction |
| Annual property tax | up to 1%, depending on household income | none | yes, municipal | yes, municipal |
| Residence through purchase | no automatic entitlement; separate routes to a residence permit | visa from certain investment levels | citizenship from $400,000, three-year holding period | EU citizens do not need one |
| Currency | lari, settlement mostly in US dollars | dirham, pegged to the US dollar | lira, high volatility | lev, pegged to the euro |
| Legal area | not an EU country | not an EU country, its own legal system | not an EU country | EU member |
What the table does not show
The price level in the other markets. We do not have comparable prices per square metre across four countries — the figures in circulation refer to different locations, build qualities and dates. So we give none. What we can state is our own fixed price of $ 1,600 per m².
Your tax liability at home. The table shows what falls due in each country. How much of that is additionally taxable in Switzerland, Germany or Austria depends on your residence and the double taxation treaty. That belongs settled before a decision — preferably by someone who knows your situation.
Common questions
What people ask about this.
Why Georgia and not Dubai?
On tax Dubai has the advantage: no tax on rental income, none on the capital gain. Against that stands a considerably higher price level, 4% transfer fee on purchase and the restriction to designated zones. With a large budget Dubai is a strong offer. If you want to build ownership with modest capital, Batumi takes you further — entry there starts at $ 51,520, and purchase costs are in the region of a hundred euros rather than over two thousand.
And Bulgaria, which is in the EU?
EU membership is a real advantage — EU law, a currency pegged to the euro, no residence question for EU citizens. For Swiss buyers that weighs less than for German ones. On running taxes the picture turns: 10% on rental income against 1% in Georgia, and the capital gain stays taxable where Georgia exempts it after two years.
And Turkey?
Purchase costs similar to Dubai, but the heaviest burden on sale: up to 35% on the gain within five years. Add the lira, whose volatility has been considerable in recent years. If you are after Turkish citizenship, there is a route from $400,000 — Georgia cannot offer that and does not want to.
What speaks most clearly for Georgia?
The low entry point and the simplicity. Foreigners acquire residential property without approval and without zoning restrictions, purchase costs are close to negligible, and after two years the gain on sale is tax-free. In that combination Georgia stands alone in the table.
Sources
Compiled on 18 August 2026. We name them so that you can check — and because tax law changes.
- Georgia: Andersen Georgia, PwC Worldwide Tax Summaries, ExpatHub.GE
- Dubai: Dubai Land Department fee schedule, Engel & Völkers UAE
- Turkey: Invest in Türkiye (the state investment agency), Rumpf Rechtsanwälte
- Bulgaria: Ruskov & Colleagues, Bulgarian tax law
If Georgia suits you
Have a look at what is possible.
Entry starts at $ 5,152 down. What that means in practice — the apartment, the payment schedule, the return — is set out on one page.