From euronews · Irina Sheludkova · · 1m 20s
Rent spikes in Georgia and Armenia as Russians flee mobilisation fears
Russians flee mobilisation fears, driving rent spikes in Georgia and Armenia.
In brief
Russians flee mobilisation fears, driving rent spikes in Georgia and Armenia. Monthly rents in Yerevan and Tbilisi rose 20-30% year on year as Russians sought refuge from Ukraine mobilisation fears. Originally reported by euronews.
Rent spikes in Georgia and Armenia
Monthly rents in Yerevan now run to €800, 900 for a two-room flat, up 23.5% year on year in August.
Russian nationals dominate foreign property transactions
Russian citizens account for 72% of all foreign property transactions in Armenia.
Rental price surges in Georgia
Rental prices in Georgia and Armenia rose 20, 30% year on year over the summer as Russians fearing mobilisation sought accommodation.
Georgia's visa policy attracts Russians
Georgia remains the most accessible destination: Russian citizens can stay for up to 360 days without a visa.
Tbilisi rents stabilize after 2022 surge
After a summer peak, rents in Georgia have fallen and broadly stabilized following 60, 70% jumps in 2022, 2023.
Russian share in property transactions drops
Russians accounted for more than 55% of all property transactions involving foreign buyers in 2023, but their share has since fallen by a third.
Belarus becomes next refuge
Belarus has drawn Russians since Moscow's all-out war began, first as a transit point and later as a place to stay.
The key point
Monthly rents in Yerevan and Tbilisi rose 20-30% year on year as Russians sought refuge from Ukraine mobilisation fears.
