Expensive housing rentals in Baku are most common in these districts of Baku

11:09 - 8.07.2024

July 8, Fineko/abc.az. Currently, prices on the rental market start at a minimum of 300 manats for one-room apartments and range up to 400 manats, ABC.AZ reports, quoting expert Ramil Gasimzade.

He noted that two-room apartments are offered for about 400-700 manats, and three-room apartments - from 500 to 800-1,000 manats. Gasimzadeh added that prices in new buildings are formed depending on the square meter. The price per sq m vary from 7 to 12 manats.

The expert noted that apartments located in districts close to metro stations are more expensive, while in the suburbs they are comparatively cheaper:

"We can say that areas with high prices are apartments located next to the metro. The cost of such apartments is about 15-20% more expensive than the rest. For example, if a studio apartment near the metro costs 400 manats, then a little further you can find the same one for 300 manats. The districts of the capital where renting housing is expensive are Sabayil, Narimanov and Nasimi. And in Khatayi, Sabunchi and Surakhani districts, rental prices are relatively lower."

Property expert Ramil Osmanli said that the end of the school year had led to an increase in supply on the market in previous years. He, however,  points out that this has not been observed in recent years, especially after the pandemic:

The expert stressed that currently the demand for rental housing has reached a high level, but it has become more difficult to find housing:

"For this reason, we are not seeing a decrease. But the fact is that every year by the autumn season there is an increase in prices. I think we will see a similar situation this year. In each case, this is a short-term period. It is difficult to say at what level prices will fluctuate. The process of urbanization continues. Houses are being demolished in the territories adjacent to the city center. In this case, as a result of new decisions, demolition may begin every day on any territory that makes up the bulk of the portfolio of proposals. And this could further increase prices by autumn."