Rich Russians are now investing in real estate – away from Europe!

Rich Russians are now investing in real estate – away from Europe!

Wealthy Russians have shown a changing trend in their property purchases since the start of the war in Ukraine. While they have traditionally been sought after by buyers on the European market, their interest has shifted significantly in recent years. Mercury reports that demand for European real estate has fallen dramatically. Due to perceived hostility as well as frozen funds and stricter regulations, Europe became less attractive for Russian investors.

A recent survey by the Levada Center shows that while three quarters of respondents support their armed forces' actions in the Ukraine conflict and only half actively prosecute the war, at the same time there is a strong longing for peace negotiations and a normal life. These contradictions are reflected in the real estate purchases of many Russians.

New real estate destinations

The new preferred real estate destinations of wealthy Russians can be found primarily in Asia and the Middle East. According to an analysis by real estate brokerage Tranio, most purchases in the first half of 2025 came from the following countries:

• Thailand: 25,6% der Nachfrage (2024: 19,7%)
• Vereinigte Arabische Emirate: 10% der Nachfrage
• Türkei: 9% der Nachfrage

Thailand in particular has proven particularly attractive, with demand increasing by almost 6% compared to last year. In Europe, demand for real estate has fallen sharply, with Cyprus being the only exception, where an increase was recorded from 10% to 6.6%. France tops the European list with a decline of 20% to 7.1%, while Spain and Greece record declines of 28.6% and 36.3% respectively.

Growth in the USA

Contrary to the decline in Europe, there is growing interest in real estate in the USA. Here demand increased by 78.5% to 3.6%. Russians often invest in real estate abroad to secure residence permits or investments.

The profound loss of confidence in Europe caused by the freeze on Russian assets has led many rich Russians to rethink their investments. Vladislav Inozemcev, a Russian economist, estimates that Europe has lost between 25 and 30 billion euros in Russian investment. The restrictions on choosing countries for investment are a direct result of the Ukraine war and its geopolitical consequences.

In summary, the real estate purchases of wealthy Russians are strongly influenced by the current political and economic environment. The longing for normality, security and comfort is leading to a rethink and a repositioning on the international real estate market. The press notes that this trend is also a response to the desire to find stability in an uncertain world.