In 2022, Russia remained the dominant nationality among buyers seeking property in Georgia, surpassing interest from citizens of many other countries. This trend was highlighted by BD-GROUP, a real estate agency, through its press service. The data showed that Russian demand accounted for 86.32% of all housing inquiries in Georgia during the year, edging slightly higher than the share recorded in 2021 by 0.16 percentage points.
Specifically, Russians were notably active in Batumi, where demand for apartments was concentrated in newly planned and pre-construction stages. Industry observers noted that Russians tend to purchase multiple properties at once, often securing several units in a single transaction. Daria Borodina, the founder of BD-GROUP, remarked that this pattern distinguishes Russian buyers from other foreign groups, who typically show more modest, single-property interest.
Among foreign buyers, residents of the CIS countries excluding Russia—Azerbaijan, Armenia, Belarus, Kazakhstan, Kyrgyzstan, Moldova, Tajikistan, and Uzbekistan—represented 6.65% of all housing requests in Georgia for 2022. Compared with 2021, demand from this group fell by 1.81%, signaling a cooling trend among regional buyers despite continued interest in the Georgian market.
Meanwhile, the press service of Skolkovo Realty reported in January that the momentum among Russians looking to purchase property abroad extended beyond Georgia. In the January-to-November 2022 period, demand from Russians for real estate in Cyprus rose by 14.67% compared with the same period in 2021, illustrating a broader shift in destination preferences for buyers seeking opportunities in the region. (Skolkovo Realty press service, January update)