According to Evgeny Shavnev, the CEO of the “Flip” investment company working in the Russian real estate market, told «Izvestiya» newspaper, starting from September 2024, the volume of residential property purchases by foreigners in Russia has increased.
Foreign citizens, mainly, have been purchasing luxury properties in Moscow and Saint Petersburg. Non-residents account for 20% of the total sales.
Uzbekistanis have entered the top three nationalities purchasing luxury homes in Russia. In 2024, 15 percent of the luxury homes bought by non-residents were purchased by citizens of Uzbekistan.
Belarusians (21%) hold the first place, followed by Kazakhstanis (18%) in the second place. The next positions are occupied by citizens of Tajikistan (10%) and Turkmenistan (10%).
An interesting point is that foreign buyers usually purchase real estate in cash from either business class or comfort plus class residential complexes.
Abdulloh Sayyid
