In Georgia, a new record for the purchase of real estate by Russians

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From January to November 2023, citizens of Russia bought more real estate in Georgia than in the whole of 2022.

About this informs the Georgian publication Business Media with reference to the country’s Ministry of Justice.

In particular, this year Russians purchased 5,780 apartments in Georgia.

The number of land plots in Georgia purchased by citizens of the Russian Federation also increased. From January to November 2023, citizens of the Russian Federation purchased 1,872 plots of land.

For comparison, for the entire year 2022: last year, citizens of the Russian Federation bought 5,424 apartments in Georgia. If you add to this number the purchase of apartments by those who have both Russian and Georgian citizenship, the result will be 6,062 apartments in 2022.

In addition, for the whole of 2022, Russians bought 1,625 plots of land in the country,

We remind you:

Earlier, the opposition proposed limit the issuance of residence permits for Russians, arguing this, among other things, that they are massively buying up housing and other real estate and this has led to an increase in prices and the cost of rent for Georgian citizens.

Statistics for 2022 show that citizens of the Russian Federation made up the largest share among people who during 2022 entered the territory of Georgia and stayed for a long time. More than 40% of housing bought in Georgia by foreigners was purchased by Russians.

Ukrainians were in third place, after Israeli citizens.

According to a public opinion poll conducted in the spring, 79% of Georgians are in favor of having for citizens of the Russian Federation canceled visa-free regime, but the ruling party does not support such a step.

According to the Ministry of Internal Affairs of Georgia, 1.46 million Russians entered the republic in 2022.

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