Russian citizens accounted for about 67% of all real estate purchases by foreigners in Azerbaijan from 2021 through 2025, reinforcing Baku’s growing appeal as an alternative investment and leisure destination.
Foreign nationals bought 6,913 properties in Azerbaijan during the five-year period, including 4,638 purchased by Russians, according to experts interviewed by RBC Real Estate. Georgian citizens bought 716 properties, while Turkish citizens acquired 312.
Experts said proximity to Russia, a large Russian-speaking community and expanding resort infrastructure are helping attract Russian buyers to Baku.
Natalia Fridlender, a partner at the Aftera agency, said affluent buyers increasingly view Azerbaijan as a market where a home can serve both as a personal vacation property and an investment. Infrastructure development and major international events are also supporting demand, she said.
Sea Breeze Draws Investor Attention
RBC highlighted Sea Breeze, the large Caspian coast development north of central Baku. The project is being developed as a self-contained resort cluster combining residences, hotels, beaches, retail and entertainment.
Mikhail Bulanov, co-founder of the Tranio agency, said the scale of the planned infrastructure makes the project comparable with resort developments in the United Arab Emirates. He cited plans for a marina, sports facilities and a concert venue for 30,000 spectators.