By AZE.US
A garage in Baku can still be found for 14,500-20,000 manats ($8,500-$11,800), but documented properties in sought-after areas are being listed for as much as 60,000 manats.
One commercially operated garage carries an asking price of 155,000 manats, or about $91,200.
The gap between the cheapest and most expensive garages in Baku has widened sharply, although the latest listings do not indicate a uniform rise in prices across the city.
A market review published in July found that ordinary garages and parking spaces generally cost between 20,000 and 35,000 manats ($11,800–$20,600). Spaces in central Baku and prestigious residential complexes were priced at 45,000-60,000 manats ($26,500–$35,300).
Listings posted or updated in September show that the main price ranges have remained broadly unchanged. What has increased is the difference between an old garage with uncertain documentation and a fully registered property that can also be used as a warehouse, workshop or commercial unit.
Garages Below 20,000 Manats Are Still Available
The least expensive options are generally found in residential districts outside central Baku. Most are older stone or metal structures rather than spaces in modern underground parking facilities.
A garage near School No. 282 in Yeni Gunashli was listed for 14,500 manats, or about $8,500. The seller mentioned electricity but did not specify whether the property had an official extract from the state property register.
In Yasamal, an older stone garage with a concrete floor and water connection was offered for 15,000 manats, or approximately $8,800. The seller said a municipal document could be issued, but the listing did not mention a state ownership extract.
Another stone garage in Yasamal was priced at 15,900 manats, while a garage in Baku’s 8th Microdistrict was listed for 19,900 manats.
The listings show that buying a garage for less than 20,000 manats remains possible. However, properties in this price segment often require particularly careful verification of ownership documents and construction status.
The Main Market Remains Between 20,000 and 38,000 Manats
Most ordinary garages reviewed by AZE.US were listed for between 20,000 and 38,000 manats, equivalent to approximately $11,800-$22,400.
A closed garage near the Nizami metro station was offered for 21,000 manats. The seller said the property had been under the same ownership for about 15 years, although the listing did not clarify its registration status.
A garage near the Azadlig Prospekti metro station was priced at 24,000 manats. In Narimanov district, a documented garage located in front of a residential building was offered for 25,000 manats.
Listings in Khatai ranged from 27,000 to 32,000 manats. Other asking prices included 28,500 manats in the 7th Microdistrict, 31,000 manats near the Gara Garayev metro station, 35,000 manats in Badamdar and 36,000 manats on Bulbul Avenue.
A garage near the Ahmadli metro station was offered for 38,000 manats, or approximately $22,400.
The figures suggest that the mass-market price range has changed only slightly. It stood at approximately 20,000–35,000 manats in July and now extends to around 38,000 manats.
That difference is not enough to demonstrate a citywide price surge, particularly because the figures represent sellers’ asking prices rather than completed transactions.
A Registered Garage Near 8 November Costs 43,000 Manats
Larger garages with state registration and additional usable space command higher prices.
A two-story stone garage near the 8 November metro station was listed for 43,000 manats, or about $25,300. The 24-square-meter property includes a basement and an official ownership extract. It can be used for parking or storage.
According to the seller, the garage could be rented for 250 manats per month. At full occupancy, it would generate 3,000 manats a year – a gross yield of approximately 7%.
At that rate, the purchase price would be recovered in slightly more than 14 years, before accounting for vacancies, maintenance, taxes and other expenses.
The calculation also shows why buyers cannot compare properties by district alone. A July listing for a standard parking space in the Grand Hayat complex, also near 8 November station, was priced at 25,500 manats. A two-story registered garage with a basement is a significantly different asset.
Narimanov Prices Reach 55,000 Manats
Narimanov continues to have one of the widest price ranges in Baku.
A conventional documented garage can be found for 25,000–32,000 manats. At the upper end of the market, listings reach 53,000–55,000 manats.
An underground garage measuring 25.7 square meters in a new building on Garabagh Street, near the Green Bazaar and Eastern Bazaar, was listed for 55,000 manats, or approximately $32,400. That is about 2,140 manats per square meter.
In July, a 20-square-meter garage beneath Baku Medical Plaza was listed for 53,000 manats, while a parking space in the White Stone residential complex was offered for 52,000 manats.
The upper end of the Narimanov market has therefore remained relatively stable at approximately 50,000-55,000 manats.
The Same District Has Garages for 20,000 and 60,000 Manats
The 8th Microdistrict illustrates how dramatically prices can differ within a single area.
One garage was listed for 19,900 manats. Another 41.8-square-meter structure with a technical passport in the same part of Baku carried an asking price of 60,000 manats, or approximately $35,300.
The 40,000-manat difference does not necessarily mean that one of the sellers has mispriced the property. Size, construction quality, documentation and the possibility of commercial use all affect the asking price.
Another garage on Ali Mustafayev Street was listed for nearly 63,000 manats. The 60,000-manat level is therefore no longer an isolated asking price, although it still represents the upper segment rather than the typical Baku garage.
Why One Property Is Listed for 155,000 Manats
The most expensive notable listing reviewed in September was located in Nasimi district, across from the market in the 3rd Microdistrict.
The seller is asking 155,000 manats – approximately $91,200 – for the 54-square-meter property. That amount is comparable to the price of an apartment in some parts of Baku or a new home outside the city center.
Calling it an ordinary garage, however, would be misleading. The roadside property has a technical passport and is already operating as an automotive service facility. The seller also claims that an additional floor can be constructed.
The property is reportedly rented for 700 manats per month, producing 8,400 manats annually. Based on the asking price, the gross rental yield is approximately 5.4%, with a payback period of more than 18 years before expenses.
Its 155,000-manat price reflects its commercial use, rental income and development potential, not simply the ability to park a vehicle. The listing should therefore not be used as a benchmark for an ordinary residential garage.
Rents Show No Major Increase
In July, standard garages in most Baku districts were offered for 150–300 manats per month. September listings do not show a clear citywide increase.
Current asking rents include 150–190 manats near Elmlar Akademiyasi, about 150 manats near Memar Ajami and up to 350 manats in Narimanov.
Listings in Nasimi range from 280 to 450 manats per month. Larger spaces with water, restroom facilities or commercial potential can command 450-600 manats.
At the same time, basic parking spaces and garages in less central locations are still available for 100-130 manats per month.
For an ordinary garage, the current mass-market rental range is approximately 150-350 manats, or $88-$206, per month.
Prices Are Splitting, Not Rising Uniformly
The latest listings do not support the conclusion that all Baku garages have become significantly more expensive over the past two months.
The market for ordinary buyers remains concentrated between 20,000 and 38,000 manats. Premium parking spaces and registered garages in well-located developments continue to cost around 50,000-60,000 manats.
The biggest change is the increasing segmentation of the market.
Older garages with uncertain documentation are offered for 14,000–20,000 manats. Registered structures with basements, additional floors or larger areas cost 35,000-60,000 manats. Properties capable of operating as an automotive service center, warehouse or other business may be listed for more than 100,000 manats.
There is therefore no single answer to how much a garage costs in Baku. A buyer looking only for a place to park one vehicle can still find options for 20,000-30,000 manats. A fully documented property in a convenient district may now cost as much as a small apartment.
All figures are sellers’ asking prices at the time of review and may differ from the final prices agreed in completed transactions.
AZE.US