AZE.US
Apartments and commercial properties located near metro stations can cost 10% to 15% more than comparable real estate farther away, according to Azerbaijani property expert Anar Nasirov.
Speaking to Demokrat.az, Nasirov said transport accessibility remains one of the main factors driving real estate prices in Baku and other parts of Azerbaijan.
New roads, wider highways, metro and tram lines, railway stations, parks and other public spaces can increase interest in a neighborhood and push up demand for both residential and commercial property.
“One of the main factors affecting real estate values is location and transport accessibility,” Nasirov said.
“New roads, the expansion of existing routes, and the opening of metro, tram and railway lines make travel easier. This automatically leads to higher property prices.”
The difference is particularly noticeable around metro stations.
Depending on the distance, apartments and commercial units near a station may be priced an average of 10% to 15% higher than similar properties in less accessible locations.
The same trend can be seen in suburban towns and villages around Baku.
When new roads are built or public transport links improve, buyers show greater interest in those areas. As a result, prices for houses, land plots and commercial premises begin to rise.
Nasirov said buyers increasingly consider not only the size and condition of a home but also the convenience of their daily commute and the amount of time they can save.
Areas with improving transport infrastructure therefore tend to see demand and property prices rise faster than other locations.
AZE.US