Interest from Russian citizens in purchasing Georgia real estate rose by 21.89% in January 2023 compared with December 2022, according to analysis from the BD-GROUP real estate team reported through Lenta.ru. The jump marks a notable rebound after a quieter period and suggests renewed attention from buyers in the region. Market observers point out that this is the first sizable uptick since October 2022, indicating a shift in buying momentum as the calendar turned to the new year. This trend is set against broader regional dynamics, including currency movements, travel patterns, and shifting investment appetites among Russian buyers looking at Georgia as a stable property option in a changing economic landscape. The figure underscores the ongoing interest seen among international buyers who view Georgia as a favorable market for property investments and second-home opportunities, reinforcing the perception of Georgia as a resilient gateway in the South Caucasus for those in Russia exploring real estate options. (BD-GROUP report, Lenta.ru)
When measured against January 2022, demand to purchase housing in Georgia climbed by 47.39% in January 2023, with a staggering 191.96% rise versus January 2021. Analysts attribute this acceleration to a combination of renewed consumer confidence, lingering appeal of Georgia as a second-home destination, and a broader push by buyers to diversify portfolios amid fluctuating macroeconomic conditions. The year-over-year surge signals sustained interest beyond a single month, indicating a longer-term trend that some observers interpret as Russians testing Georgia’s market strength, affordability, and ease of access. This growth also aligns with previous January patterns where early-year interest tends to spike as buyers reassess opportunities after the holiday period. (BD-GROUP report, Lenta.ru)
Experts note that, at the start of a new year, inquiries from Russian buyers for Georgia real estate typically increase. For instance, January 2022 saw a notable rise compared with December 2021, followed by a similar pattern in January 2021 when demand grew versus December 2020. These historical touchpoints illustrate a recurring seasonal rhythm where market attention shifts at the turn of the year, potentially influenced by annual savings cycles, visa and residency considerations, and the general market sentiment at the outset of a calendar year. The continuation of this pattern into 2023 points to a persistent interest in Georgia as a property choice among Russian buyers, even as broader market conditions evolve. (BD-GROUP report, Lenta.ru)
In early February, BD-GROUP added that Russians showed greater interest in purchasing Georgia real estate in 2022 than buyers from other countries, reinforcing the perception of Georgia as a favored market within that region. This insight reflects a comparative strength in demand from Russian buyers relative to peers from other nations, suggesting a competitive edge in the Georgian property market for that year. The dynamics imply that Georgia remained a compelling option for international buyers seeking value and diversification in their real estate portfolios. (BD-GROUP report, Lenta.ru)
Additionally, Skolkovo Realty analysts reported earlier in January a rise in Russian demand for real estate in Cyprus, noting a 14.67% increase for the January–November 2022 period compared with the same span in 2021. This parallel movement in another popular destination underlines how Russian buyers were actively exploring opportunities across different Mediterranean markets during that stretch, balancing factors such as price, legality, and potential for residency or visa advantages when evaluating cross-border property investments. (Skolkovo Realty report, Lenta.ru)