AZE.US
Baku’s real estate market is becoming more active as summer approaches, with some buyers trying to purchase apartments before another possible price increase and others hoping that autumn may bring better deals.
But market specialists warn that waiting does not always work in the buyer’s favor.
According to Yeni Sabah, Vugar Oruj, chairman of the Azerbaijan Society of Appraisers, said the current period remains favorable for buying property. He argued that delaying a purchase for too long may be risky because inflation and broader price growth often mean that today’s price becomes more expensive tomorrow.
Oruj said recent years have shown a stronger trend toward continued price increases than declines. Market activity usually rises in July, August and September, affecting both sales and rentals. The start of the academic year adds further pressure, as students arriving in Baku increase demand for rental apartments.
Open listings show what this looks like in practice. Even outside the most central parts of Baku, prices are no longer easy to describe as affordable.
On Azadliq Avenue, two-room apartments in older buildings are being listed at around 130,000-140,000 manats, or roughly $76,000-$82,000. In newer buildings near the metro, prices are noticeably higher. Two-room apartments may be offered for about 160,000-240,000 manats, or around $94,000-$141,000, depending on size, condition and proximity to the station.
In the Gara Garayev area, older housing also remains expensive. Three-room apartments there may cost around 180,000-195,000 manats, or approximately $106,000-$115,000 and higher. In new buildings near the metro, two-room apartments often fall in the range of 180,000-200,000 manats, or about $106,000-$118,000.
In Montino, prices depend heavily on the type of building and proximity to Narimanov. Two-room apartments in older buildings may start at around 120,000-130,000 manats, or roughly $71,000-$76,000. In new residential complexes, prices can rise much higher, especially for larger apartments or business-class buildings.
In Yasamal, the range is especially wide. Two-room apartments in older buildings and in New Yasamal may cost about 160,000-170,000 manats, or roughly $94,000–$100,000. Three-room apartments in new buildings are often listed from around 190,000-220,000 manats, or approximately $112,000-$129,000 and higher. In some complexes, prices can exceed 300,000 manats, or about $176,000.
These figures are not official statistics and reflect selected market listings. Still, they show the broader mood in the market: buyers in Baku increasingly struggle to find apartments near metro stations at prices that would have seemed reasonable only a few years ago.
Interest is also growing in summer houses, land plots and coastal areas. On the Absheron Peninsula, demand remains strong in Mardakan, Shuvalan, Pirshagi and Nardaran, where luxury residential and leisure projects continue to support higher prices.
Oruj said land remains a more stable long-term investment because it is a limited resource. For short- and medium-term investments, apartments and non-residential properties may be more practical options.
Infrastructure projects are also expected to influence the market, including new metro stations, the renewal of older buildings and projects included in Baku’s General Plan through 2040. Oruj identified Yasamal, Sabail, Khatai, Narimanov and Nasimi as among the most attractive districts for investment because of their business and commercial activity.
For buyers, the main question remains whether to wait or act now. But current listings suggest that the market is already moving upward, and autumn does not necessarily mean lower prices.
AZE.US