Russians buy beachside homes in Abkhazia

After independence, real estate prices have jumped in Abkhazia.

Россияне скупают Абхазию

There probably wasn't anyone happier than my friend Volodya when Moscow recognized Abkhazia's independence. Several homes he had purchased outside Gagra immediately doubled in price. Within weeks, thousands of Russians began flocking to Abkhazia to purchase beachside homes, confident that their government would safeguard their investments. The demand has led to a new advertising trend in Moscow — real estate agencies offering cheap, quality buys in Abkhazia.

"What will the enterprise do?" I asked.

"Nothing!" they said.

"Homes in Abkhazia! From $30,000!"

Ardzinba only laughed in answer.