Apartment asking prices in Baku’s more affordable districts start at 1,023 manats ($602) per square meter, according to an October market analysis cited by Vesti Baku.
The lowest starting figure was recorded in Pirallahi, where the minimum was 1,023 manats per square meter and the average was 1,452 manats. In Khazar district, the minimum was 1,051 manats and the average 1,628 manats. Garadagh’s minimum was 1,266 manats, with an average of 2,028 manats.
Surakhani district had a minimum of 1,425 manats per square meter and an average of 1,996 manats. The figures were published in a separate market analysis on Oct. 7 and do not represent guaranteed prices for every listing.
Property expert Vugar Oruj said homes tend to be less expensive in Khazar and Garadagh districts and in more remote parts of Sabunchu. Distance from the city center, weaker infrastructure and lower rental demand are among the factors that hold down prices.
By contrast, Sabail, Nasimi, Narimanov, Khatai and Yasamal remain among Baku’s more expensive districts. Oruj said prices in currently cheaper areas could rise as infrastructure, roads and population grow, but such increases are not guaranteed.
The final price of any apartment also depends on its condition, legal documentation, precise location and the type and age of the building. Minimum district figures should therefore not be treated as firm offers.
The price data were previously published by ICMA.az. The latest discussion, including a video report, appeared on Vesti Baku.