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During the year, Russians' demand for housing increased by 25% in four directions

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The growth in demand for foreign real estate is noted in Thailand, Bali, Montenegro and Georgia. From year to year, the demand for housing in these locations increased by 20-25%. The most favorable conditions for the purchase of real estate are noted here – a low entry threshold (from 100-120 thousand dollars). However, by the end of 2024, the demand of Russians for foreign real estate decreased by 20-25%. The decrease in activity is due to a drop in demand in key areas: Turkey, the UAE and Cyprus, which experienced a boom in 2022-2023. Russians are still interested in key locations. Compared to other directions, the share of demand is 15-20%.

"At the same time, the activity of Russians in the real estate markets of the Middle East is growing: Saudi Arabia, Bahrain, Oman, where new projects are being implemented," said Alexander Shibaev, business director of Kalinka Middle East. - Despite the higher budget threshold(from 450-550 thousand dollars per unit), the demand from Russians for them is growing. The UAE market is oversaturated with projects, and new destinations in the Middle East provide an opportunity to diversify the real estate portfolio."

The growing share of low-cost destinations (Southeast Asia, Georgia) in the portfolio of Russians affected the reduction of the average budget for buying foreign real estate by 20% relative to the results of 2023, where the average budget was 165-170 thousand dollars.

According to Kalinka Ecosystem experts, the key factors that will encourage Russians to purchase real estate abroad will be the weakening of the monetary policy of the Central Bank of the Russian Federation (lower interest rates), continued volatility of the ruble against world currencies (RUB/USD, RUB/EUR). At the same time, there are certain risks: the geopolitical situation, various kinds of sanctions against the Russians, due to which there is an outflow of customers from the Russian Federation.

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