As of early 2025, Thailand has solidified its position as the most sought-after destination for Russians looking to invest in foreign real estate, according to a recent study by the international brokerage firm Tranio. In the first three months of the year, approximately one-third (31.2%) of all requests for overseas housing came from Russians wanting to buy property in Thailand. This marks the highest demand for Thai real estate in the last five years, showcasing a significant shift in consumer behavior since the onset of geopolitical tensions following Russia's full-scale invasion of Ukraine.
Tranio's report highlights that Thailand has topped the rankings for seven consecutive quarters, with a remarkable 41% increase in interest compared to the same period last year. In stark contrast, only 5% of requests were directed towards Thailand in early 2022. The surge in popularity can be attributed to a growing preference among Russian buyers for countries perceived as safe and welcoming.
The capital city, Bangkok, has emerged as the most popular location for Russian buyers, with the number of transactions soaring fivefold over the past year. Pattaya, another favored destination, has seen a 48% increase in inquiries from potential buyers. This trend indicates a robust recovery and growing confidence in Thailand's real estate market.
Following Thailand in the rankings are the United Arab Emirates (UAE) and Turkey, which account for 10.7% and 7.6% of requests, respectively. However, demand in these regions has shown a decline, with the UAE experiencing a 6% drop and Turkey's interest decreasing by 10% over the past year. Despite this, Russians remain the most frequent foreign buyers of Turkish properties, marking the 35th consecutive month in which they have held this title.
Interestingly, the United States has made a comeback in the top ten rankings, a first since 2021. Currently, 3.9% of Russian inquiries are directed towards American properties, a significant increase from less than 2% a year ago. This renewed interest reflects a broader trend of diversification among Russian buyers seeking international real estate opportunities.
Tranio's analysis is based on requests from Russian citizens looking to purchase properties in 70 countries worldwide, signaling a well-rounded perspective on current market dynamics. The report also noted that the most active buyers of foreign real estate at the beginning of 2025 hailed from the Krasnoyarsk Territory (9.5% of applicants), followed by the Krasnodar Territory and Tatarstan (both at 5.2%).
In addition to real estate trends, the safety of potential destinations plays a crucial role in buyer decisions. The UAE, Qatar, and Oman have been recognized among the top ten safest countries globally, according to the Global Peace Index. This index, compiled by an international group of experts, assesses how secure residents and tourists feel in various countries, factoring in crime rates, perceptions of safety, and experiences of discrimination.
For 2025, the Global Peace Index ranks the safest countries as Iceland, Ireland, Austria, New Zealand, Singapore, Portugal, Denmark, Canada, Qatar, the UAE, and Oman. This recognition enhances the appeal of these nations for Russian buyers, who prioritize safety alongside investment potential.
Moreover, popular tourist regions in Thailand have remained largely unaffected by recent seismic events. The Russian Union of the Tourism Industry (RST) reported that infrastructure in key tourist areas continues to operate normally. Vice President Dmitry Gorin noted that around 600 organized Russian tourists are currently in Bangkok, with estimates suggesting that the total number of Russian visitors in the city could reach approximately 2,000 when including independent travelers.
Despite reports of an earthquake with a magnitude of 7.7 that struck central Myanmar on March 28, 2025, the impact on Thai tourism has been minimal. The tremors were felt in northern regions like Chiang Mai and Chiang Rai, leading to temporary suspensions of activities in shopping centers. However, major tourist destinations like Phuket, Khao Lak, Krabi, and Samui reported no significant infrastructure damage, with all international airports, except those in northern provinces, operating without major disruptions.
In summary, the real estate landscape for Russian buyers is evolving, with Thailand leading the charge as the preferred destination for overseas property investment. The interplay of safety, market dynamics, and the aftermath of geopolitical events continues to shape the preferences of Russian investors, who are now looking beyond traditional markets to secure their investments. As the year progresses, it will be interesting to observe how these trends develop and whether Thailand can maintain its leading position amid changing global circumstances.
