AZE.US
Many students in Baku are choosing not to give up their rented apartments during the summer break, as affordable housing near universities becomes increasingly difficult to find.
In previous years, students often moved out after classes ended and returned to their home regions for the summer. Now, however, many prefer to keep their apartments even during the holidays.
The main reason is the rising cost of rent in Baku, especially in areas close to universities. For students, location matters: living within walking distance of campus helps save both time and transportation costs.
Real estate expert Novruz Guliyev says another factor is the shrinking supply of old low-rise housing. Many one-, two- and three-story buildings in Baku are being demolished and replaced with high-rise residential complexes, where rental prices are usually much higher.
As a result, students try to protect their existing rental agreements and avoid losing apartments they secured at lower prices. Some students, especially young men, stay in Baku during the summer and take seasonal jobs to continue paying rent.
According to the expert, students most often rent apartments in older buildings, where prices remain more affordable. Such apartments are usually offered for 400-600 manats per month. When two or three students share the same apartment, the cost per person can fall to about 150-200 manats.
For many students, this is still cheaper than trying to find new housing in the fall, when demand rises again and landlords may increase prices.
Experts say the trend is contributing to a shortage of rental apartments in older buildings near universities. This shortage, in turn, is putting additional pressure on prices.
Currently, one- and two-room apartments in older buildings near universities in Baku are offered at around 350-600 manats per month. In newer buildings, similar apartments can cost 800-1,200 manats.
AZE.US