AZE.US
Land prices in several areas around Baku and across the Absheron Peninsula could increase by 20% to 25% this year as construction activity picks up and demand for plots grows, according to a local market expert.
Speaking to Bizim.Media, Vugar Oruj, chairman of the Azerbaijan Society of Appraisers, said the land market traditionally becomes more active between late February and early March, when the building season begins. As demand rises for plots intended for private homes, prices tend to move higher as well.
He said the strongest growth is expected in areas included in longer-term development plans, particularly Masazir, Khocasan, Hokmali, the Binagadi outskirts, and Sulutepe.
Oruj also pointed to rising demand for coastal land, driven by buyers looking to build vacation homes. In that segment, the most sought-after locations remain Mardakan, Shuvalan, Buzovna, Bilgah, and Novkhani. Land prices in those areas now start at around 40,000 to 50,000 manats, while plots closer to Sea Breeze can reach 70,000 to 80,000 manats.
Within Baku itself, he said the most intensive construction is currently underway in the Narimanov and Khatai districts. Development is moving especially quickly in the Black City area, along Babek Avenue, around Hazi Aslanov metro station, as well as in Zigh and Hovsan. In those locations, he said, further price growth appears unavoidable.
According to Oruj, infrastructure is also playing a major role in shaping expectations. He cited the reconstruction of the Qobu-Hokmali road and preparations for a new complex near the intersection of Ziya Bunyadov Avenue and Heydar Aliyev Avenue as additional factors likely to push prices upward.
At the same time, he said not all parts of the market are expected to move in the same direction. Significant gains are not anticipated in Garadagh, Pirallahi, or in the southwestern parts of the Khazar district, where any increase in land prices is expected to remain limited.
The broader trend suggests that land on the Absheron Peninsula is increasingly being priced not only on current demand, but on expectations tied to future development, road projects, and new residential construction.