AZE.US
Rental prices in Baku are expected to rise again from the second half of August as students return to the capital and demand for affordable apartments increases.
Real estate expert Elnur Azadov said the period from around June 15 through the end of July is usually the most favorable time to search for a long-term rental.
During these weeks, many students leave Baku, Sumgayit and Ganja and return to their home regions. As apartments become vacant, supply increases and prices temporarily stabilize in areas with a larger number of available properties.
The situation is expected to change from the second half of August through October.
During this period, finding a suitable apartment becomes more difficult, while rental rates rise significantly as students return ahead of the new academic year.
Azadov said tenants planning to move should consider securing an apartment before the end of July, while the market remains relatively calm.
The situation is different in the summer house market. The period between June 15 and August 15 is considered the most expensive season for renting cottages and vacation homes, with prices depending heavily on location and demand.
The most affordable rental properties in and around Baku are generally found in the Absheron district, Qobu and other settlements on the outskirts of the capital.
Monthly rents for one-room apartments in these areas start at about 200 manats, or $118. Some two-room apartments can also be found at around this level, while three- and four-room homes generally start from 300 manats, or about $176.
Prices rise sharply closer to central Baku.
The highest rental rates are currently recorded in Sea Breeze, White City and the city center. Monthly apartment rents in Sea Breeze start at around $1,000.
In White City and central Baku, rents generally begin at about 700 manats, or roughly $412, per month.
AZE.US