AZE.US
Apartment rents in Baku are expected to rise most sharply in August and September, when students return to the capital and demand for affordable housing increases.
Real estate expert Elnur Azadov said the rental market usually stabilizes at the beginning of summer as students studying in Baku, Sumgayit and Ganja leave for the regions during the holiday period.
That temporary increase in available apartments helps keep long-term rental prices relatively steady.
The situation is expected to change closer to the start of the new academic year.
“The main increase in rental prices is traditionally observed in August and September,” Azadov told Modern.az.
A shrinking supply of affordable apartments is also putting pressure on the market.
Demolition projects in central Baku and nearby districts have removed part of the city’s older and cheaper housing stock. New residential buildings are being constructed in their place, but apartments in those developments enter the market at significantly higher prices.
As a result, tenants are finding fewer low-cost options.
Azadov said one- and two-bedroom apartments suitable for subleasing have become harder to find than in previous years, particularly in central areas where demand for short-term rentals remains high.
The market for summer houses follows a different pattern.
Demand for rental properties on the Absheron Peninsula and in areas surrounding Baku usually begins to increase after June 15–20.
Many owners are currently testing the market and listing properties at higher initial prices. Azadov said a clearer picture should emerge in the second half of June, once actual demand becomes visible.
Tourist arrivals may also affect the summer rental market.
Azadov said the number of visitors from Gulf countries appears to be lower this year, although arrivals from Russia and several other countries could increase.
He added that it remains too early for a precise forecast because the seasonal rental market is still taking shape and landlords are assessing how much demand they can expect.
AZE.US