Off-Plan Apartments in Tbilisi: How to Check the Developer Before You Pay

Overview

When you buy an apartment that isn't built yet, you don't buy property. You sign a preliminary agreement with a developer and pay for a promise.
Georgia regulates development projects less than most Western countries do. If a developer fails, buyers often have little to fall back on.
The safest projects are financed by a reputable bank and don't depend on buyers' payments to get finished.
Check the developer's track record, its court cases, the land, the building permit and the contract before you pay anything.

Off-plan apartments are everywhere in Tbilisi, and the prices are tempting. A unit bought at the start of a project can cost much less than the same unit once it's finished. For some buyers that works out. For others, the building stalls for years, or never gets finished at all.

The difference is usually visible before you pay, if you know where to look.

Information current as of October 28, 2026.

What you're actually buying

You can't sign a normal sale agreement for an apartment that doesn't exist yet. Instead, you sign a preliminary agreement with the developer. It promises to sell you a specific unit once it's built, in return for payments now.

Until the building is finished and your unit is registered in your name, you own a claim against the developer, not an apartment. If the developer runs out of money, delays for years or goes bankrupt, that claim may be worth little.

Why the risk is higher in Georgia

Georgian real estate development isn't regulated the way it is in many Western countries. There's less checking of developers by the state and fewer protections for buyers' money. If the developer breaches the contract, a buyer's practical options can be limited.

Brokers add another layer. Many earn commissions from developers, and some steer buyers toward projects that pay them the most. A broker's view of a developer isn't independent advice.

The checks to do before you pay

The developer

Track record. Has it finished buildings before? Visit them. Look at the quality and ask residents how the handover went.
Court cases. A lawyer can search for lawsuits against the developer and its related companies. A history of disputes with buyers is the clearest warning sign there is.
Who's behind it. Check the company in the business registry: owners, directors, how long it's existed. A new company set up just for one project is common, so look at the people behind it too.

The money

Bank financing. The best sign is a developer financed by a reputable bank, whose building doesn't depend on selling units to get finished.
Buyer-funded projects. If the project is paid for mainly by buyers' deposits, the risk is much higher. If sales slow, the building slows.

The land and the permit

Land ownership. Pull the registry extract for the land. Check who owns it and whether there's a mortgage on it. A bank mortgage on the land is normal, but you need to know what happens to your unit if the developer defaults on that loan.
Building permit. Check that the project has a valid permit for the building being sold, including the number of floors. Floors built beyond the permit are a recurring problem in Tbilisi. Parliament has even debated an amnesty for unpermitted construction.

The contract

Read the preliminary agreement closely, ideally with a lawyer. Look for:

the exact unit, size, floor and finish.
the completion date, and what happens if it's late. A penalty for each month of delay is worth having.
what happens to your money if the project is cancelled.
whether the developer can change the plans without your consent.
how and when the unit will be registered in your name.
the dispute process, and which court or arbitration it uses.

Developers often present a standard contract as final. Ask for changes anyway, especially if you're paying a large share upfront.

Pay in stages

If you can, pay in stages tied to construction progress, not a large lump sum at signing. The less you pay before the building exists, the less you can lose.

Off-plan and residence permits

If you're buying to get a residence permit, an unfinished apartment may not count until it's registered in your name. Check before you buy. See the $150,000 property permit.

When off-plan makes sense

Off-plan can be a good buy when the developer has a long record of finished buildings, the project has bank financing, the permit and land check out, and the contract protects you on delays. If any one of those is missing, the discount may not be worth it.

How we can help

We check the developer, its court history, the land, the permit and the contract before you pay a deposit, and tell you plainly what we find. We can negotiate contract terms and register the unit when it's finished. Ask about property, or read our full guide to buying property in Georgia as a foreigner.