AZE.US
The planned restoration of suburban railway lines around Baku could increase demand for land and homes near future stations, potentially lifting prices by as much as 30%, a real estate expert said.
Elnur Farzaliyev made the estimate in a Xəzər TV report, according to Vesti Baku.
Farzaliyev said one sot of land - 100 square meters - currently costs from 5,000 manats to between 15,000 and 20,000 manats in the suburban areas under discussion, depending on location.
If prices increase by 30%, land now valued at 5,000 manats per sot would rise to 6,500 manats. A plot valued at 20,000 manats per sot would reach 26,000 manats.
Azerbaijan’s 2025-2030 state program calls for restoring the Yeni Surakhani-Hovsan, Bakikhanov-Bina-Gala and Zabrat-Mashtaga-Baglar railway lines, along with developing stations on those routes.
The program also provides for restoring the Guzdek-Garadagh line. The project is intended to increase passenger capacity on the Baku-Khirdalan-Sumgayit corridor by redirecting freight trains.
Construction has already affected residents in Mashtaga. More than 200 homes were designated for clearance to make way for the Zabrat-Mashtaga-Baglar line, and demolition had been completed at more than 100 properties at the time of the earlier report, Vesti Baku reported.
The transport project is therefore creating expectations of higher property values near planned stations while also requiring residents within the rail corridor to relocate.
Sources: Vesti Baku; Xəzər TV.