Azerbaijan.US
Prices for the sale and rental of commercial properties in Baku continue to rise, reaching record levels in the city’s central districts, particularly Nasimi and Sabail.
Market data show that the highest rental rates are currently recorded in Nasimi, Sabail, Narimanov, Yasamal, and Khatai districts. In Yasamal, for example, the annual rental price for a 100-square-meter commercial space has increased from around 3,500 manats last year to approximately 4,000 manats.
In Narimanov, average rental prices per square meter have risen by about 10% year-on-year, reaching 25-30 manats. Khatai remains relatively more affordable, though prices there have also increased: the rent for a 100-square-meter space has grown from roughly 2,000 manats to around 2,500 manats.
Sale prices have also hit new highs. In Sabail, the price of one square meter of commercial property is approaching 10,000 manats, while in Yasamal it ranges between 8,000 and 9,000 manats, and in Narimanov between 7,000 and 8,000 manats.
Experts attribute the price surge primarily to a shortage of supply. In previous years, many new residential complexes included commercial spaces on their ground floors, helping balance the market. More recently, the number of newly available commercial units has declined, driving up demand for existing properties.
At the same time, analysts note that the broader real estate market has shown signs of stagnation in recent months. If demand continues to weaken and new properties enter the market, a price correction cannot be ruled out.
