AZE.US
An AZE.US review of Bina.az and Tap.az listings found steep price gaps between older buildings and new developments in five high-demand districts
Rental prices in Azerbaijan rose 7.4% year over year in June 2026, according to the Central Bank’s monetary policy review.
The CBA’s 2025 financial stability report also found that half of listed rental homes carried monthly asking prices above 1,000 manats, or about $588. That figure, however, covers properties of different sizes and categories, from small apartments on the outskirts to large units in central Baku and premium residential towers.
To show what renters are currently facing, AZE.US reviewed two-room apartments advertised on Bina.az and Tap.az as of Aug. 18.
In Azerbaijan, a “two-room” apartment typically means one bedroom plus a living room, rather than two separate bedrooms.
The review included monthly and long-term listings. Daily rentals, which frequently appear in search results with prices of 50 to 150 manats, were excluded.
The prices represent what owners and agents are asking, not necessarily the final rent agreed upon in a lease. Listings can also be removed, reposted or duplicated. Dollar equivalents are approximate, based on the Central Bank’s official rate of 1.70 manats per U.S. dollar.
Yasamal: 500 to 1,600 Manats
Yasamal remains one of Baku’s most competitive rental districts because of its proximity to Baku State University, Azerbaijan Technical University, the University of Architecture and Construction and other institutions.
Two-room apartments in older buildings are generally advertised for 500 to 750 manats, or about $294 to $441, per month.
On Tap.az, a 50-square-meter apartment on Akim Abbasov Street near Matbuat Avenue was listed for 600 manats, or $353. The owner said the apartment was close to several universities and would be rented only to a family or female students.
On Bina.az, a 70-square-meter apartment in an older building in Yeni Yasamal, near the Inshaatchilar metro station, was also advertised for 600 manats.
Prices in new developments vary much more widely. Apartments near Inshaatchilar can be found for roughly 600 to 850 manats, or $353 to $500. Near Elmler Akademiyasi, however, two-room units are commonly offered for 900 to 1,000 manats and can reach 1,600 manats, or $941.
One furnished 70-square-meter apartment on Zahid Khalilov Street was listed for 1,600 manats.
The figures show that proximity to a university and metro station can nearly double the cost of a two-room apartment in a new building compared with Yeni Yasamal.
Nasimi: Rents Near 28 May Often Exceed 1,000 Manats
Demand in Nasimi is concentrated around the 28 May and Ganjlik metro stations, major transportation links and nearby medical universities.
Two-room apartments in older central buildings are generally advertised for 750 to 850 manats, or about $441 to $500. A 60-square-meter apartment near 28 May appeared on Bina.az for 799 manats, while another 50-square-meter unit in the district was listed for 850 manats.
In new buildings, asking prices commonly start at around 800 manats and rise to between 1,200 and 1,300 manats, or $706 to $765. A 65-square-meter apartment near 28 May was listed for 1,200 manats.
Premium developments are significantly more expensive. An 85-square-meter two-room apartment in TAC Residence was offered for 2,500 manats, or about $1,471, per month.
Such luxury listings do not reflect the cost of the broader rental market, but they push the district’s overall advertised price level higher.
Narimanov: 400 Manats in an Older Building, Up to 1,200 in a New One
Narimanov shows one of the widest gaps between older buildings and newer residential complexes.
A furnished 50-square-meter apartment near the Nariman Narimanov metro station was advertised on Bina.az for 400 manats, or $235. Other two-room units in older buildings in the same district were listed for 650 to 700 manats.
In new developments, the working range was approximately 650 to 1,200 manats, or $382 to $706.
A 70-square-meter apartment was offered on Tap.az for 700 manats, while a 60-square-meter unit in the Chapayev area was listed for 1,100 manats, or $647.
Bina.az also carried two-room listings near the Nariman Narimanov station for 650, 850 and 1,200 manats, depending on the building, size, renovation and furnishings.
As a result, the phrase “Narimanov district” says little about the actual price. An apartment in an older five-story building can cost one-half or one-third as much as a unit in a nearby residential tower.
Khatai: 400 Manats on the Outskirts, More Than 1,000 Near the Metro
Khatai is too large and diverse to have a single representative rental price.
Apartments along Ganja Avenue and in Ahmadli or Kohna Gunashli are substantially cheaper than properties near the Shah Ismail Khatai metro station or in the White City area.
On Tap.az, a 50-square-meter apartment in Kohna Gunashli, described as 10 to 15 minutes from Ahmadli station, was listed for 400 manats. Two-room apartments in older Khatai buildings were also advertised on Bina.az for 500 to 550 manats, or about $294 to $324.
Prices near Shah Ismail Khatai station were much higher. Two-room apartments in new developments generally ranged from 800 to 1,200 manats, or $471 to $706.
A 58-square-meter unit was offered for 950 manats, or $559, while apartments measuring 70 to 86 square meters were listed for 900 to 1,200 manats.
Moving from an older building in the outer part of Khatai to a new development closer to the district’s central transportation hub can therefore add 400 to 700 manats to the monthly housing bill.
Sabail: Baku’s Widest Price Range
Sabail produced the most complicated price picture because the district includes Bayil and other relatively affordable neighborhoods, as well as the historic center, Fountain Square, Sahil and premium waterfront developments.
A 65-square-meter apartment described as being one minute from Fountain Square was listed on Tap.az for 650 manats, or $382. That is unusually low for central Baku, and listings at that price may disappear quickly.
On Bina.az, two-room apartments in older buildings near Sahil were offered for between 900 and 1,700 manats, or roughly $529 to $1,000. The final price depends heavily on the building’s condition, apartment size, renovation and proximity to the Boulevard.
In new developments, prices began at about 700 to 1,100 manats in Bayil and rose to between 1,300 and 2,000 manats near Sahil.
An 80-square-meter apartment close to the Sahil metro station was listed for 1,600 manats, or $941, while a 95-square-meter unit was advertised for 2,000 manats, or about $1,176.
Properties in premium waterfront developments can cost even more and should be treated separately from the mass rental market.
Agent Fees Raise Move-In Costs
The advertised monthly rent is not always the renter’s full initial cost.
In many of the listings reviewed by AZE.US, agents requested a commission equal to 20% to 30% of one month’s rent.
For a 600-manat apartment, the fee can add 120 to 180 manats, bringing the initial rent-and-commission payment to between 720 and 780 manats, or about $424 to $459.
For an apartment renting at 1,000 manats, the first payment rises to between 1,200 and 1,300 manats, or $706 to $765. If the landlord also requires a security deposit, the total move-in cost can approach two months of rent. Utilities are generally charged separately.
Not Every Listing Is Available to Every Student
The number of advertised apartments does not equal the number actually available to any particular renter.
Several owners specified that they would rent only to families or female students. Other advertisements explicitly excluded young men, unmarried renters or groups of male students.
The 400-manat apartment near Nariman Narimanov, for example, was offered only to a family. The owner of the 600-manat Yasamal apartment said a family or female students would be considered.
Such restrictions leave male students and groups of young renters with fewer options, potentially pushing them toward more expensive apartments.
Where Rents Could Rise This Fall
Vugar Oruj, chairman of the board of the Azerbaijan Society of Appraisers, expects the strongest increases in Nasimi, Yasamal, Narimanov, Sabail and Khatai, where major universities and transportation hubs are concentrated.
The suspension of train service between the 28 May and Nizami metro stations for up to 11 months could further alter demand.
Renters may increasingly seek apartments that allow them to reach universities without multiple transfers – either on foot, by direct bus or through an accessible metro line. Areas around Elmler Akademiyasi, Inshaatchilar, Ganjlik, Nariman Narimanov and 28 May may therefore attract additional demand.
The market may stabilize after the annual influx of students subsides. That does not necessarily mean rents will fall. More likely, prices will remain at their new level while the pace of further increases slows.
AZE.US