The priorities of Russians are gradually changing. According to the latest statistics, Cyprus is no longer one of the top destinations for Russian citizens to buy property.
According to the results of the fourth quarter of 2024, the island state is only on the seventh position of the rating.
Interestingly, the interest of Russians has changed dramatically for the year as leaders in the overall list. The top three now include Thailand (15% of total transactions), Georgia (13.6%) and the UAE (7.5%). France (6.5%) is in fourth place, with Spain and Greece sharing fifth place (6.3% each). Turkey (5.6%), Cyprus (5.3%), Indonesia (4.7%) and the Czech Republic (4.1%) follow.
In 2024, most deals come from the three unchanged leaders - Thailand, the UAE and Georgia - with only the overall order changing. Despite the fact that the UAE still occupies one of the leading positions, buyers' interest in foreign property in this region has cooled slightly for the year - the experts said.
In terms of the main reasons for buying property, they are most often related to obtaining residency or citizenship, for personal residence and for investment.