After a two-year decline, Russian investors are actively returning to the Georgian real estate market. According to the analytical center of the Astorius real estate corporation, demand for purchasing property in Georgia from Russian citizens has increased by 100%. Although Georgia's share in the total volume of investments from Russia is 5%, its growth rate significantly outpaces other directions.
Positive dynamics are also observed in the broader foreign real estate market. Demand for purchasing properties abroad by Russian citizens in the first half of 2026 increased by 5% year-on-year and by 20% compared to the end of 2025. Experts note that this is facilitated by the strengthening of the national currency, a gradual decrease in interest rates on bank deposits, and expectations of a price correction in the domestic market.
Change in Investment Strategy
The main change has occurred in the approach investors take. Instead of speculative investments, they increasingly consider properties that address specific strategic objectives. Analysts note that investments have become more pragmatic. Against the backdrop of geopolitical instability, some buyers view foreign assets as a "backup option," but this is not about immediate emigration, but rather the possibility of leaving in the future.
Buyer motivation has changed significantly in 2026. The primary goal remains obtaining the right to residence — this accounts for 53% of all transactions. A significant share of investors — 27% — purchase property for personal life and leisure. Buyers pursuing the goal of preserving and multiplying capital account for 20%. Over the year, the share of pure investors has grown noticeably — from 15% to 20%.
Georgia Leads in Demand Growth
Georgia has taken fifth place in the ranking of countries by volume of investments from Russian citizens in real estate. The distribution of demand looks as follows:
- United Arab Emirates — 50% of demand
- Thailand — 17% of demand
- Turkey — 12% of demand
- Serbia — 11% of demand
- Georgia — 5% of demand
It is important to note that Georgia has returned to this ranking for the first time since 2023. The country shows the absolute leading growth in demand among all investment directions.
Batumi and Tbilisi: Key Investment Centers
Batumi stands out as the most attractive city for foreign investors. Foreigners, most of whom are Russian citizens, purchase 70-75% of all apartments in new developments. In the capital Tbilisi, real estate attracts investors with stable income — annual rental yield is 7-9% with the prospect of obtaining a residence permit.
According to analysts' forecasts, in the next 1-2 years demand for real estate will continue to grow in the countries of the Near Abroad, in particular in Georgia, Armenia, Belarus, Kyrgyzstan, and Azerbaijan. These countries are becoming increasingly popular due to clear rules of doing business and low investment barriers. Analysts identify diversification as the main trend for 2026 — investors increasingly distribute capital among several jurisdictions to reduce the concentration of risks in one particular country.