Sochi stands out as a premier hub for premium and luxury housing among Russian cities, with urban analysts forecasting that the share of high-end projects in the resort real estate market will climb to 35 percent from the start of 2024 onward. The city’s appeal is underscored by high demand, strong infrastructure, and a developing ecosystem that supports elevated living standards for residents and investors alike.
When compared with Moscow, the premium segment here shows a notably larger footprint. Current data indicate that Moscow’s expensive housing market accounts for around 22 percent of total supply, signaling a regional shift in where buyers are concentrating their bets and the kinds of properties that capture attention. Sochi’s growth in luxury offerings reflects a broader pattern of investment in resort areas that combine natural beauty, climate advantages, and durable asset value.
Elena Kabesheva, who serves as Deputy General Director and Commercial Director of a major resort real estate developer, FIVE, notes a qualitative transformation in the city’s infrastructure over the past three years. She emphasizes that the combination of natural advantages and targeted development has created a clearer, more attractive picture for high-budget real estate in Russia’s premier resort capital. The sustained interest from buyers and renters alike suggests that Sochi remains a stable, in-demand asset class within the national market.
Beyond domestic interest, there is a noticeable trend of Russians exploring international real estate markets. In the first half of the year, demand for housing in Montenegro rose by about 40 percent year over year, as buyers broaden their geographic horizons. Other popular destinations include Hungary, Cyprus, France, and Spain, all drawing attention from Russian investors and expatriates seeking diversification and opportunity in European markets.
Concurrently, there has been a growing interest in remote purchasing options for homes within Russia, as buyers seek convenience and accessibility. This shift toward remote transactions aligns with a broader modernization of real estate services, enabling clients to explore, evaluate, and close deals with greater ease and efficiency. This evolving landscape reflects a balance between local opportunities in resort markets like Sochi and the expanding appeal of international property options for Russian buyers.