CBA: Average rental price in Baku is 927 manats

The median monthly housing rent in Baku is 927 manats.

This is stated in the financial stability report published by the Central Bank of Azerbaijan.

According to the data, the payback period for real estate in the capital is 19.5 years, and the ratio of average housing price to average monthly earnings is 189 months or 15.7 years.

The CBA notes that despite the increase in housing prices in Azerbaijan by the end of 2023, the rate of this growth is lower than in a number of comparable countries.

According to the State Statistics Committee, housing prices increased by 9.9% over the past year.