Construction costs in Azerbaijan were unchanged in September from August but remained 10.2% above their December 2025 level, according to the Azerbaijan Chamber of Valuers.
The chamber’s September index stood at 110.2 points, with December 2025 set at 100. The monthly pause followed a 3.1% increase in August, according to calculation details published by Report.
Materials accounted for 8.2 points of the cumulative increase, labor for 1.6 points and machinery and equipment for 0.4 points.
What the Per-Square-Meter Estimate Covers
For a model 16-story residential building with a total area of 10,000 square meters, the chamber estimated construction costs excluding land at 409.3 manats, or about $241, per square meter. That figure was also unchanged from August.
It is not the full cost of a completed residential complex. Including elevators, engineering systems, value-added tax, financing, utility connections and land, the indicative estimate is about 850 manats ($500) per square meter. Neither figure represents an apartment’s selling price.
The chamber’s market monitoring put reinforcing steel at 1,100–1,300 manats (about $647–$765) per metric ton, M200–M400 concrete at 85–105 manats ($50–$62) per cubic meter and cement at 7–9 manats (about $4.12–$5.29) per bag.
Those items are not included in the index’s comparative basket, so their monthly price movements do not directly change the index.
Source: Vesti Baku. Dollar equivalents use 1.70 manats per U.S. dollar.