AZE.US
In Baku’s housing market, the floor of an apartment can make a visible difference in price.
Buyers do not look only at the district, size or renovation. They also pay attention to whether the apartment is on a lower floor, a middle floor or closer to the top of the building.
In older residential buildings, middle floors remain the most stable choice for many buyers. Real estate expert Elnur Azadov says that in five-story buildings, the second and third floors are usually preferred. The reason is practical: many of those buildings do not have elevators, making the upper floors less convenient.
In nine- and ten-story buildings, demand is usually stronger for apartments between the fourth and sixth floors. In sixteen-story buildings, buyers often look at units between the fifth and tenth floors.
Part of this preference comes from habits formed during the Soviet period. First-floor apartments were often seen as less attractive because of street noise, heavy foot traffic near the entrance and less privacy. Top floors, meanwhile, were associated with possible problems involving water pressure, heating and other utilities.
The situation is different in new residential developments.
In newer buildings, upper floors are often in higher demand, especially when they offer a good view. Buyers may be willing to pay more for quiet, privacy and a city or sea panorama.
But experts warn that the top floor and a mansard unit are not always the same thing. Mansard apartments may appear attractive because of their height, but they are not always considered strong investment options. Construction quality, insulation, layout and the legal status of the space can all affect value and resale prospects.
Vugar Oruj, chairman of the Society of Appraisers, says that in older buildings, floors between the fourth and ninth are generally considered more convenient. In new buildings, demand often moves higher, especially when the project is well located and offers attractive views.
The price difference between floors is usually around 3-5%. For example, if an apartment on the first floor sells for about 3,000 manats, about $1,765 per square meter, units on more desirable floors may reach 3,300-3,350 manats, about $1,940-$1,970 per square meter.
In some projects, the gap can be larger. Experts say apartments with strong views or limited supply may cost 10-15% more. In certain cases, the difference can reach 30%.
For buyers, the main point is simple: the “best” floor depends on the type of building.
In an older building, a middle floor may be more practical and easier to resell. In a new development, upper floors may be more attractive if the building has reliable elevators, good utilities and a view that is actually worth the premium.
Paying extra just for height is not always wise. Sometimes a higher price does not mean the apartment is objectively better. It simply means the seller has already priced in the view, the status and the expectation of future demand.
AZE.US