ATTENTION citizens! Apartments in these districts of Baku will sharply increase in price

A sharp increase in housing prices is expected in some areas of Baku.

As reported by BAKU.WS, economist Kenan Guluzade in an interview with "Xəzər Xəbər" said that in March-April 2022, the cost per square meter in new buildings in the central districts of the capital was significantly lower.

He emphasized that one of the main reasons for the rise in housing market prices is the limitation of supply.

Real estate expert Elnur Azadov noted that according to official data, from 2021 to 2025, there has been a 55 percent increase in prices in the primary housing market. The largest growth is observed in the White City area. Also in the Nardaran-Lyahish gardens and "SeaBreeze," land prices have increased by 70-100 percent.

It is reported that the price increase process will continue.

The expert also noted that more than 150 buildings in the capital have been declared unsafe, as these buildings have already exhausted their operational lifespan. However, appropriate conditions have not yet been created for construction companies in the market, which means the upward trend in prices will continue.

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