AZE.US
Garage prices in Baku are no longer rising only in theory. Real listings show the market is moving up in a visible and increasingly painful way for drivers.
According to the Azerbaijan Chamber of Appraisers, the average price of garages in Baku rose by 4.8% in March compared with February.
But a closer look at recent listings across the city shows a broader picture. In some areas, a garage or parking space now costs as much as a separate car. In others, the asking price is approaching the cost of a decent used crossover.
Akif Nasirli, chairman of the Liberal Economists Center, told Bizim.Media that the reason is straightforward. The number of cars in the city is rising, street parking is getting tighter, enforcement is becoming stricter, and new parking capacity is not keeping pace. As a result, demand is shifting toward underground parking and closed garages, pushing prices higher.
Listings from late March and early April show the most expensive segment is concentrated in central and business districts.
Around 28 May metro station, the average level in the sample is already about 50,000-55,000 manats.
In the Narimanov district, including the area around Nariman Narimanov metro station, listings are reaching 45,000-55,000 manats.
On Azadlig Prospekti, the average price stands at about 40,800 manats. Near Inshaatchilar, it is around 39,800 manats, while near Nizami it is about 35,800 manats.
Prices are lower in more affordable locations, but they can no longer be described as cheap. Near Elmlar Akademiyasi, the average in the sample is around 27,800 manats. Near Neftchilar, it is about 27,000 manats. In the Yasamal area, the figure is about 24,000 manats. Around 8 Noyabr, it is roughly 27,300 manats, while near Hazi Aslanov it is about 20,100 manats. In the Khatai area, the level is around 30,000 manats.
In other words, the mass-market garage segment in Baku is no longer a story of paying 10,000-15,000 manats and moving on. In many districts, the market now sits in the 20,000-35,000 manat range, while in central and more prestigious locations prices have firmly moved into the 40,000-50,000 manat bracket.
Even without taking extreme cases into account, the direction of the market is clear. In Baku, a garage is no longer just about convenience. For many drivers, it is becoming a way to escape increasingly expensive and tightly regulated street parking.
Another source of pressure is Azparking. As Nasirli noted, drivers are feeling the rising cost of parking because of zone-based tariffs and tighter enforcement in central districts. Officially, this does not always look like a sharp increase everywhere, but in practice motorists are paying more.
The conclusion is simple and uncomfortable. Keeping a car in Baku is becoming a more expensive luxury. And as long as the number of vehicles keeps growing faster than the supply of new parking spaces, there is little reason to expect garage prices to fall.