The analyst named the priority countries for the purchase of foreign real estate

In 2025, Russians' demand for foreign real estate was concentrated in Asia and the Middle East. Oleg Gerasimov, co-founder of Noco, told Izvestia about this. Thailand was the leader in the ratings for applications from large brokers, the United Arab Emirates (UAE) was in second place, followed by Turkey.

"Cyprus, France, Spain, Greece, Indonesia, Montenegro and the USA also regularly met in the top ten. At the same time, despite the leadership of certain areas, the general interest in buying foreign real estate from Russians decreased in 2025: some services record a drop in requests by about 25% year—on-year, which is largely due to the complexity of cross-border payments and the growing attractiveness of ruble instruments," he said.

The choice in favor of Thailand and the UAE is explained by quite pragmatic reasons.

"First of all, currency insurance and clear investment logic. In the UAE, the exchange rate of the dirham is pegged to the dollar, which reduces currency risks, and the market itself is perceived as a "dollar jurisdiction" with high liquidity and transparent procedures. Additionally, the dynamics of the economy and demography support demand: Dubai surpassed the 4 million mark in 2025, which fuels demand for rental and purchase of real estate," the expert noted.

There is also the convenience of entry for non-residents. Installments from developers are widespread in the UAE and Thailand, including those with the possibility of repayment within two to four years after the keys are issued. In the UAE, if you have a residence status (Emirates ID), which is easy to obtain, mortgage instruments at a rate of 4% make such a purchase even more attractive.

"In addition, operational parameters are important for investors: in the Dubai market in 2025, reviews often show average gross rental yields of about 6-8% for apartments without taking into account the increase in the value of the property itself, which supports investment demand. The sharp rise in demand and prices for office real estate in Dubai in 2025 deserves special attention. According to our estimates, the average annual increase was 25-30% due to a strong bias in the commissioning of residential real estate versus office real estate," Gerasimov added.

In 2026, it is expected to stabilize at the levels of 2025 without returning to the hype of 2022 and 2023: the payment infrastructure and compliance will remain key constraints, and the buyer's choice will be more rational. At the same time, Southeast Asia and the Persian Gulf countries are likely to continue to dominate: Thailand and the United Arab Emirates will remain among the leaders, Turkey and Georgia will remain in a stable demand group, and interest will continue to grow in areas such as Cambodia, Vietnam, and Indonesia.

Apartment of the World: Russians began to actively buy up real estate in Thailand

The average budget for buying foreign real estate is $250-500 thousand.

In August last year, it was reported that Russian buyers, despite the foreign policy difficulties, continue to actively invest in foreign real estate, but their preferences have shifted towards unique and multifunctional facilities. Experts noted that the simple purchase of vacation homes is being replaced by a strategic approach, where historical value, a loyalty program, or location exclusivity play a key role.

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