AZE.US
Buying an apartment in central Baku for 2,700 manats per square meter is still possible in some cases, but it is no longer representative of the broader market, according to real estate expert Firdovsi Khalilov, speaking in a televised discussion framed around that question.
Khalilov argued that the bigger issue is not just the headline price per square meter, but the widening gap between housing prices and household incomes. He said real incomes rose modestly, while property prices in some segments increased far more sharply, making housing less accessible for much of the population.
He also said weaker sales have not led to lower prices. In his view, that is largely because of tighter construction rules, lower permitted density, higher tax burdens and rising development costs, all of which continue to feed into final apartment prices.
According to Khalilov, the market is increasingly split. Premium housing has more choice and is showing signs of stagnation, while lower- and middle-priced housing remains in short supply, keeping upward pressure on prices where demand is strongest.
He also linked the debate to demolition and compensation disputes in central Baku, where some residents say payouts are not enough to buy a replacement apartment in the same area. Khalilov said the market needs clearer and more uniform rules on compensation, temporary rental support and resettlement.
In that sense, 2,700 manats per square meter in central Baku has become more of an exception than a market norm. The broader direction, he suggested, still points toward higher prices in the mass segment rather than any meaningful decline.