Magnolia

The rule on this site is that a project is a range of apartments, not one price, and most projects hold units on both sides of the $150,000 residency line. Magnolia is the exception I have to name: at roughly $1,540 per square metre, even the largest 86 m² two-bedroom lands near $133,000. The whole building sits under the line.

That is not a reason to avoid it. It is a reason to buy it for what it is — a low-entry rental unit a few minutes from the centre, with 24/7 reception, shops, an ATM, a fitness centre, parking and commercial space downstairs. 70% of the unrenovated stock is gone; 35% of the renovated. Instalments run 31 months at 0% on a 20% first payment of $9,800–$13,700.

A statement of fact, not a verdict: at roughly $1,540 per square metre the largest unit in the building, an 86.3 m² two-bedroom, prices near $133,000. No apartment in Magnolia reaches $150,000.

That does not make it a bad building. It makes it a rental purchase rather than a residency purchase, and anyone who sells it to you as a route to a permit is either careless or lying. If residency is what you want, look at Wyndham, Tbilisi Downtown, NEXT Downtown or Cinema City, or at the larger units in Collection, Gardens, Address and Oriental.