More Uzbek citizens purchasing real estate in Russia as foreign demand rises

Among the most active buyers are citizens of Uzbekistan, Belarus, Kazakhstan, Tajikistan, Turkmenistan, and Abkhazia.

Reports indicate that Belarusians account for the largest share of transactions at 21%, followed by Kazakhs at 18%, Uzbeks at 15%, Tajiks and Turkmens at 10% each, and Chinese buyers at 2%.

Additionally, in the past six months, the share of Ukrainian citizens in the market has surged. At the beginning of 2024, they accounted for only 2% of total transactions, but their share has now exceeded 5% overall and reached 19% among non-resident buyers.

Approximately 65% of purchases involve apartments priced up to 20 million RUB, 21% fall within the 20–50 million RUB range, while 14% are properties valued above 50 million RUB.

Foreign buyers are primarily interested in purchasing real estate in Moscow (65%), the Moscow region (15%), and St. Petersburg (10%). Most non-residents prefer business-class or comfort-plus residential complexes and often make purchases in cash.

Reports suggest that 70% of these acquisitions are not for investment purposes but are intended for personal residence within the next 1–5 years. More expensive properties are being bought by Chinese, Kazakh, and Ukrainian citizens.

Earlier, it was reported that a 41-year-old Uzbek citizen purchased a 244-square-meter apartment in Seoul, South Korea, for 7.4 billion KRW (approximately $5.09 million). This transaction was recorded as the most expensive in a luxury residential complex catering to wealthy buyers. The entire payment was made in cash.