Russian citizens elevate real estate purchases in Georgia

Georgia has witnessed an increase in real estate purchase by Russian citizens on the backdrop of Moscow’s ongoing invasion of Ukraine, as per data provided by the Ministry of Justice in response to a query from opposition MP Tinatin Bokuchava. The figures indicate a surge in property acquisitions in the first eleven months of 2023 compared to the entire year of 2022.

 

According to the Ministry, Russian nationals acquired a total of 5,784 apartments in Georgia between January and November 2023, exceeding the previous year’s total of 5,424 apartments. 

The statistics also reveal an increase in the purchase of land plots by Russian citizens. In 2022, they bought 1,625 plots throughout the year, while in the same period in 2023, the number rose to 1,872 plots.

Reacting to the issue, Parliament Speaker Shalva Papuashvili on Monday said several domestic opposition groups and affiliated non-governmental organizations had attempted to incide xenophobia on ethnic grounds in Georgia, but claimed they had failed to achieve the goal.