Makhachkala has been named the city with the highest profitability in real estate investments. The study, conducted by RIA Rating, took into account investment returns over the past three years. Makhachkala took the 10th place in the list of the top 25 Russian cities with the fastest growth in real estate prices and the highest returns for investors (19.3% annual profit).

Among the republics of the North Caucasian Federal District, Vladikavkaz and Grozny also ranked high in the list, with Vladikavkaz in 5th place with an annual profit of 21.6% and Grozny in 25th place with an annual profit of 16%.

Experts attribute the rapid growth of real estate prices in these cities to the growth of tourism and large investments in related infrastructure. They also attribute the growing demand for real estate to people's desire to invest in something stable amid economic uncertainty.