Russians flee abroad on renewed mobilization fears; housing demand surges in Georgia, Armenia, Serbia

Renewed rumors of a second Russian mobilization wave since summer 2026 have triggered a fresh exodus of Russians to Georgia, Armenia, and Serbia, with local real estate markets already seeing increased demand. Putin publicly dismisses the rumors as 'nonsense,' but the precautionary emigration suggests low public trust in official assurances. This pattern mirrors the 2022 mobilization flight, indicating sustained demographic and capital outflow pressures on Russia.