Since the beginning of the year, Russians have bought more than 5.7 thousand apartments in Georgia – Kommersant
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From January 1 to December 1 of this year, citizens of the Russian Federation bought 5,784 apartments in Georgia. This is said in response from the Ministry of Justice country to the parliamentary request of Tinatin Bokuchava, a member of parliament from Mikheil Saakashvili’s opposition party “United National Movement” (UNM).
According to the Ministry of Justice, over the entire last year, Russian citizens bought 5,424 apartments in Georgia. Thus, the 2023 figure has already surpassed last year’s.
The Russians were also actively buying land plots for the construction of households: during 2022 they acquired 1,625 plots, and this year – 1,872. The purchase and sale of agricultural land in Georgia is prohibited by law, but there are cases when local residents specifically negotiate with municipal employees about changes status of such lands in order to sell them to citizens of the Russian Federation as “construction sites”.
At one of his trials, Mikheil Saakashvili, serving a six-year sentence for abuse of power, said that after the UNM returned to power, “Russians will be encouraged to sell the apartments they bought within a year.” However, judging by the statistics, this threat did not in any way affect the interest of Russian citizens in the Georgian real estate market.
According to realtors, Russians have bought 99% of apartments since 2022 in two cities: the capital of the country, Tbilisi, and the resort town of Batumi. Moreover, a significant part of Russian citizens prefer to buy premium primary housing costing more than $100 thousand, hoping to receive the legal opportunity to apply to the authorities to grant them citizenship of the country, as provided for by local legislation. Georgian citizenship attracts Russians due to its visa-free regime with the EU.
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