In the last hour, Russian citizens bought more than 6,700 apartments in Georgia

After the beginning of the Russian military invasion of Ukraine, Russian citizens bought 6,707 apartments in Georgia. This follows from the data of the Ministry of Justice of Georgia.

In terms of the number of apartments purchased, Russians are ahead of citizens of all other countries – for example, citizens of Israel bought 2,563 apartments in Georgia during the same period.

According to the experts of the Georealty company, Russians buy apartments not only for housing, but also as an investment – for later renting. This explains the fact that more than 500 Russian citizens bought two or more apartments in Georgian resorts, as well as in the capital.

After the beginning of the Russian invasion of Ukraine, according to various data, 120,000 to 130,000 Russians moved to Georgia. Among other things, the purchase of real estate gives them a chance to obtain a “permanent residence permit” in Georgia – the tourist status allows permanent residence in the country for only 12 months.

The local opposition, primarily Mikhail Saakashvila’s United National Movement party, accuses the ruling Georgian Dream party of “allowing the influx of hundreds of thousands of Russians coming to the country with incomprehensible and suspicious purposes.” But according to the country’s government, as well as economists, it was the processes that began after the influx of Russians to Georgia that led to an increase in Georgia’s GDP by 10 percent last year.

• In the first three months of 2023, Russians registered 5,332 different enterprises in Georgia. Among them are 191 limited liability companies, 8 non-governmental organizations, and in the remaining 5,133 cases, Russian citizens registered as individual entrepreneurs. In 2022, Russians registered almost 15 thousand enterprises in Georgia.