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russians-2023

How many apartments in Batumi have Russians bought in 2023?

January 12, 2024

During the first eleven months of 2023, there was an increase in the number of real estate purchases in Georgia by Russian citizens. From January to November, they purchased 5,784 apartments and 1,872 land plots, which exceeds last year's figures by 6.64% and 15.5%, respectively. This information was disseminated by the Georgian Ministry of Justice, and the analysis and publication of the data was carried out by Business Media.

A study of data provided by the government agency revealed that throughout 2022, Russian citizens purchased 5,424 apartments and 1,625 land plots, most of which are located in the cities of Tbilisi and Batumi, as noted by real estate market specialists interviewed by Kommersant journalists.

Georgia is distinguished by a liberal approach to the acquisition of real estate by foreign citizens, without imposing restrictions, with the exception of the purchase of agricultural land. At the same time, a transaction to purchase housing worth over $100 thousand on the primary market provides foreigners with the right to receive at least a temporary residence permit. Kommersant's interlocutors emphasize the high demand for such facilities among Russians.


Sources:
https://justice.gov.ge/
https://bm.ge/ru