About 90,000 citizens of Russia and Belarus live in Georgia as of today, 77% of whom rent apartments.
The share of Russian citizens in real estate purchases of selected developers ranges from 3-4%.
As per Galt& Taggart research, rents started to retreat since Mar-23 and decreased by 5.7% by Oct-23. The rents are expected to continue downward trend in the near future.
Real estate rental yield reached 11.9% in Mar23, but has been declining since then to 11.0% by Oct-23.
Rental yield is high in Tbilisi and in those cities where Russian migrants have moved to live.
The biggest tenants of real estate in Tbilisi are the local population and expats, while the share of migrants is about 26%.