In Baku, about 200 buildings will be demolished - LIST of districts published

Phased demolition of dilapidated buildings is planned in Baku.

According to the State Committee for Urban Planning and Architecture, appropriate measures have been initiated for 194 dilapidated buildings (a total of 6,415 apartments) located in the Binagadi, Narimanov, Yasamal, Nasimi, Sabail, Khatai, Nizami, Sabunchu, Surakhani, and Pirallahi districts of the capital.

According to the chairman of the Society of Appraisers of Azerbaijan, Vugar Oruj, the infrastructure renewal will have a special impact on the real estate market.

"This process will lead to an increase in housing prices in these areas. The construction of new buildings in the specified territories will lead to price regulation in central and nearby areas. That is, we will see a certain stabilization in those areas where price increases have been observed until now," he said.

Real estate expert Elnur Farzaliyev also believes that this will not pass without a trace for the housing market. According to him, the demolition process and the fact that buyers mainly prefer the suburbs of Baku leads to increased demand and a decrease in the number of real estate offers in these territories. All this makes price increases inevitable.

More details in the Baku TV report: