Some real estate agencies note that demand for rental homes from Russian migrants has dropped sharply. If after the start of the war in Ukraine, rental prices surge sharply due to increased demand from Russians arrived in Georgia, today the situation has changed as a lot of them have already left the country.
"Demand for apartments from Russian citizens has plummeted, many of them have already left the country, returned to Russia or changed their location and moved to another country.
Russian citizens mostly rented homes and did not buy them, so their leaving did not affect purchase prices. As of today, demand for rentals and mortgages has fallen. In this regard, Ukrainian citizens are lightly active but still show interest in high-class apartments as well as Russians, Americans and Western Europeans who work on international projects and do not rent an apartment for a long term. "Foreigners mostly rent high-class apartments," Nino Gedevanishvili, co-founder of the National Association of Realtors of Georgia, says in an interview with Сommersant.
