Russian influx pushes up real estate prices in Tbilisi

NOV. 21 2022 (The Bulletin) — Real estate prices in Tbilisi have risen by nearly 28% in the last year, mainly because of the influx of Russians into the country, TBC Bank reported. An estimated 800,000  Russians fled to Georgia in March and then in September after Vladimir Putin ordered a mobilisation. Around 100,000 have stayed in the country. There have been multiple accounts of rental and sale price rises in Tbilisi.


— This story was published in issue 530 of the Central Asia & South Caucasus Bulletin, on Dec. 4 2022

— Copyright the Central Asia & South Caucasus Bulletin 2022

« Back to newsdesk