Rent spikes in Georgia, Armenia as Russians flee mobilisation fears

Rents in Yerevan and Tbilisi have surged as Russian nationals relocate, with Yerevan rents up 23.5% year-on-year and Russians accounting for 72% of foreign property transactions in Armenia. This continues a pattern since the 2022 invasion, but the renewed spike suggests fresh mobilisation concerns. The influx pressures local housing markets and could fuel social tensions in host countries.