The traditional summer dip in rental prices in Baku—once driven by students returning to their home regions for the holidays—has all but disappeared. Instead, the city’s rental market continues to show steady price growth, defying seasonal expectations that once helped cool demand.
Just a few years ago, the summer exodus of students created a predictable lull in the rental market, easing demand and resulting in temporary price drops. But according to real estate expert Elnur Farzaliyev, the landscape has drastically changed.
“The key factor behind the rising rental prices is the widespread demolition of private residential homes in central districts,” Farzaliyev explains. “These neighborhoods used to provide much of the affordable rental stock, especially for students. Now that supply has shrunk significantly.”
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Data from recent market analysis confirms the trend: neighborhoods near major universities, once known for budget-friendly housing, are now experiencing notable rent hikes. In many areas, monthly rent has increased by 200–250 manats compared to previous summers.
Farzaliyev warns that the market is unlikely to stabilize anytime soon.
“Unfortunately, we do not expect prices to plateau or drop in the near future.”
The new trend underscores a broader housing challenge in Baku, where rapid urban redevelopment is squeezing out affordable options and changing the city’s rental dynamics—perhaps permanently.
