Russians rent housing in Georgia and Serbia over mobilisation fears

Rumours that Russian authorities might announce a new wave of mobilisation after the September elections have been circulating across the country since summer. President Vladimir Putin called them “nonsense” and said there was no need to call anyone up right now. Even so, many Russians are leaving the country just in case — and that has already driven up the rental housing market in countries popular with emigrants.

Rents climbing in Georgia

Georgia, Armenia and Serbia remain the most popular relocation destinations since Russia's full-scale invasion of Ukraine began. According to Georgia's Interior Ministry, around 1.5 million Russians entered Georgia in the war's first year, of whom Georgia's statistics office (Geostat) counts 62,300 as migrants.

Irina, a real estate agent in Tbilisi who has worked in the city since 2022, says she noticed the number of Russians in Georgia — and, with it, demand for rental housing — rising again in late summer. While the market was stable in the first half of 2026 and tenants could choose between several options, in the past month good listings have been staying on the market for just a day or two. Flats that were renting for $600–700 a month a year ago are now going for $800–900. “You can go to view a flat for $700 and find out it's already been rented — for $800, because someone offered more,” Irina explains. Her colleague Anna predicts that, given the growing influx of Russians, flats currently going for around $700 could rise to $1,100 within a few months.

Demand is rising in Serbia too

Another popular destination for emigration from Russia is Serbia. Between 24 February and 2 November 2022, more than 140,000 Russian citizens registered there, and between 2022 and 2025 nearly 70,000 of them obtained residence permits. Andrei, a real estate agent in Serbia's Novi Sad who has worked there since 2022, says that whereas he once went weeks without a single client, he now handles several viewing requests a day. Rent in Novi Sad, which started at around €400 as recently as spring, is now approaching €700. Meanwhile, Russian estate agents in Serbia have raised their commissions from 50% to 100% of the rental price. “People won't mind paying it anyway,” Andrei believes.

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Source: novinky.cz