Russians are actively buying up real estate in Georgia

Last year, 12,335 citizens of the Russian Federation bought 15,164 different real estate objects in Georgia. This is stated in message Ministry of Justice of the country, published in local media.

The Ministry of Justice clarifies that 13,262 properties purchased by Russians are apartments and houses. At the same time, 10,975 Russians registered ownership of 13,850 land plots. This refers to both plots for already acquired households, and those suitable for building.

For comparison, according to the same government source, in 2021, 3,739 Russian citizens registered ownership of 4,332 properties. And in 2020, only 2,366 Russians purchased 2,701 houses, apartments and land.

The purchase and sale of agricultural land in Georgia is prohibited by law. You can buy or sell only land for residential development.

After the start of the special military operation of the Russian Federation in Ukraine, from 120 thousand to 140 thousand Russian citizens moved to Georgia for permanent residence. The government agency Gruzstat promises to publish more accurate data in the near future, after it receives information from the border police department of the Ministry of Internal Affairs about the number of Russians who crossed the state border of Georgia from February 24, 2022, but did not leave it in the future.

The difficulty of clarifying the data is that, according to Georgian legislation, citizens of the Russian Federation have the right to stay in Georgia for 12 months without registration – as tourists, not residents of the country.

After the start of the NWO and due to the large flow of emigrants from Russia by local standards, money transfers from the Russian Federation to Georgia tripled, and the national currency, the lari, appreciated by almost 30%. The Russians have registered more than 7,000 new enterprises with the Ministry of Justice, including those in the IT sector. The cost of renting apartments has doubled, and the price of new and second homes in Tbilisi and Batumi has increased by 15-20%.

More details – in the material “Kommersant” “Georgia is reaping the fruits of foreign mobilization”.

Giorgi Dvali, Tbilisi