CEU Electronic Theses and Dissertations, 2025
| Author | Voronova, Tatiana |
|---|---|
| Title | RUShing to Georgia: Migration and Rental Affordability in 2022-2023 |
| Summary | Russia’s 2022 invasion of Ukraine triggered a substantial migration wave to Georgia, increasing the population by approximately 6.5%. Its economic implications, particularly for rental affordability, remain understudied. This thesis investigates changes in rents and wages following the migration, focusing on the association between the arrival of predominantly remote-working Russian migrants and rental market dynamics. Using monthly and quarterly data from 2016 to 2023, the analysis applies Ordinary Least Squares (OLS) and two-way fixed effects models to estimate changes in rent growth, wage growth, and rental affordability. The results indicate a significant increase in rent growth following the migration, especially in Tbilisi. Although wages also increased, there is suggestive evidence of a decline in affordability in the capital. These findings highlight the vulnerability of urban housing markets to sudden demand shocks and support the case for stronger rental regulation. |
| Supervisor | Kaufmann, Marc |
| Department | Economics MA |
| Full text | https://www.etd.ceu.edu/2025/voronova_tatiana.pdf |
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